Greening the digital revolution: assessing the impact of digital transformation on green total factor productivity in Chinese enterprises

The green digital revolution has changed the production mode of enterprises. This article explores the green value of digital transformation. The study calculates the digital transformation index and green total factor productivity (EGTFP) index of Chinese enterprises from 2012 to 2021 and uses a panel data model and intermediary effect to conduct empirical tests. The results show that digital transformation has a positive impact of 0.371 units on the EGTFP. This positive effect is proven to be stable after distinguishing between substantive and tactical digital transformation, where the effect of substantive digital transformation increases over time. At the same time, enterprise property rights and location affect the role of digital transformation; moreover, digital transformation performs better when grouping the nonstate-owned enterprises and the eastern region. In addition, energy efficiency, green technology innovation, and environmental responsibility are important intermediaries, as digital transformation can affect EGTFP by improving energy efficiency, promoting green technology innovation, and strengthening environmental responsibility. These research conclusions help evaluate the economic and environmental effects of digital transformation and provide empirical evidence for the high-quality development of enterprises.