The Promoting Effect of Digital Transformation on Green Mergers and Acquisitions of Enterprises: An empirical analysis based on A-share listed companies

Siyang Huang; Jiang Chao

doi:10.62051/ijgem.v8n3.11

Authors

Siyang Huang
Jiang Chao

DOI:

https://doi.org/10.62051/ijgem.v8n3.11

Keywords:

Digital transformation, Corporate green mergers and acquisitions, Data of Chinese A - share listed companies

Abstract

Digital transformation has significantly elevated the level of green mergers and acquisitions (M&As) by enhancing enterprises' information - processing capabilities and the allocation efficiency of resource factors. An empirical analysis based on the data of Chinese A - share listed companies from 2012 to 2023 reveals that the "dual - wheel drive" mechanism of technology and capital plays a crucial role in this process. The research confirms that digital transformation significantly promotes enterprises' green M&A behaviors and effectively supports the implementation of their green transformation strategies. Compared with other types of enterprises, non - state - owned enterprises in China, enterprises in coastal regions, and those in highly competitive market environments are more likely to achieve green transformation through digital capabilities. Specifically, digitalization forms the above - mentioned "dual - wheel drive" mechanism by increasing the intensity of R & D investment, enhancing the level of green innovation, and alleviating financing constraints. This study systematically explains the mechanism of action of digital transformation on green M&As and its practical implications, providing a theoretical basis for relevant policy - making.

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