Research on the Impact of Digital Transformation in Manufacturing Enterprises on New Quality Productive Forces

Against the backdrop of the coordinated development of the digital economy and green transformation, the mechanism through which enterprises’ digital transformation affects new quality productive forces deserves systematic examination. Using panel data of Chinese A-share manufacturing listed firms from 2015 to 2023, this paper constructs a two-way fixed effects model and employs an instrumental variable approach to empirically examine the nonlinear impact of digital transformation on new quality productive forces and its underlying mechanisms. From the perspectives of three aspects—nonlinear effects, dual mediation mechanisms, and heterogeneity analysis—this paper systematically uncovers the internal logic through which digital transformation drives new quality productive forces, providing theoretical foundations and policy implications for promoting the coordinated digital and green transformation of the manufacturing sector. It should be noted that this paper has certain limitations. First, the sample is confined to Chinese A-share manufacturing listed firms, and the applicability of the findings to small and medium-sized enterprises and other industries requires further verification. Second, this paper does not fully capture the dynamic evolution of the impact of digital transformation on new quality productive forces. Future research may further deepen the analysis by expanding the sample scope, refining variable measurement, and incorporating dynamic modeling approaches.