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Analysis of the Influence Mechanism of Digital Transformation on the New Quality Productivity of Enterprises --The Mediating Role of Financing Constraints and ESG Ratings

Author

Listed:
  • Yichun Zhang
  • Xinyi Zhang

Abstract

Based on the panel data of A-share listed companies from 2011 to 2022, this paper empirically tests the impact and transmission mechanism between enterprise digital transformation and enterprise new quality productivity. The results show that enterprise digital transformation has a significant driving effect on enterprise new quality productivity, and the conclusion still holds after a series of robustness tests. In terms of the impact mechanism, firms drive the level of firms’ new quality productivity by alleviating financing constraints and improving firms’ ESG performance, and digital transformation significantly enhances new quality productivity in SOEs, large firms, and technology-intensive industries.

Suggested Citation

  • Yichun Zhang & Xinyi Zhang, 2025. "Analysis of the Influence Mechanism of Digital Transformation on the New Quality Productivity of Enterprises --The Mediating Role of Financing Constraints and ESG Ratings," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 17(2), pages 1-15, February.
    • Handle: RePEc:ibn:ijefaa:v:17:y:2025:i:2:p:15
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    References listed on IDEAS

    as
    1. Yang, Xiangyang & Li, Zijun & Qiu, Zhaoxuan & Wang, Jinmin & Liu, Bei, 2024. "ESG performance and corporate technology innovation: Evidence from China," Technological Forecasting and Social Change, Elsevier, vol. 206(C).
    2. Stephanie Aaronson & Catherine L. Mann & Chad Syverson, 2024. "Labor, investment, and technology: assessing the drivers of productivity growth," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 59(3), pages 154-165, July.
    3. Li Wang & Hongyu Yang, 2024. "Digital technology innovation and corporate ESG performance: evidence from China," Economic Change and Restructuring, Springer, vol. 57(6), pages 1-32, December.
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    Cited by:

    1. Lu Yang & Min Tianwei & Tony Fang, 2025. "Research on the Influence Mechanism of Digital Transformation on the Development of New Quality Productive Forces in Manufacturing Enterprises – Based on the Spatial Perspective," SAGE Open, , vol. 15(4), pages 21582440251, November.

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    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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