China's Digital Transformation's Catalytic Impact on Corporate Green M&A—Empirical Data from Shenzhen and Shanghai A-Share Listed Companies
中国のデジタルトランスフォーメーションが企業のグリーンM&Aに与える触媒的影響—上海・深センA株上場企業の実証データ (AI 翻訳)
Yukun Yang
🤖 gxceed AI 要約
日本語
本論文は2008〜2023年の中国上場企業データを用い、デジタルトランスフォーメーションが企業のグリーンM&Aを促進することを固定効果モデルで実証。資金制約の緩和、情報非対称性の低減、イノベーション効率の向上という三つのメカニズムを同定した。非ハイテク産業や非重汚染企業で効果が顕著であり、政府の政策立案に示唆を与える。
English
Using Chinese listed firm data from 2008-2023, this paper employs a fixed-effects model to show that digital transformation significantly promotes corporate green M&A. It identifies three mechanisms: easing financing constraints, reducing information asymmetry, and enhancing innovation efficiency. The effect is stronger for non-high-tech and non-heavy-polluting firms. Findings offer policy insights for governments to foster green transformation via digitalization.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
中国の事例だが、デジタル技術を活用したグリーンM&A促進メカニズムは日本のGX政策（例：GXリーグ、成長志向型カーボンプライシング）にも示唆を与える。特に非ハイテク産業での効果は、日本の中堅・中小企業のグリーン化戦略に参考になる。
In the global GX context
As global disclosure frameworks (ISSB, CSRD) increasingly emphasize climate transition plans, this study's identification of digital transformation as a catalyst for green M&A provides empirical evidence on how technology can enable corporate decarbonization. The mechanisms — easing financing constraints and reducing information asymmetry — are relevant for policymakers designing green finance instruments and for firms integrating digital tools into sustainability strategies.
👥 読者別の含意
🔬研究者:Provides a novel mechanism analysis linking digital transformation to green M&A through financing, information, and innovation channels.
🏢実務担当者:Highlights that digital technologies can be leveraged to identify and execute green M&A targets, especially for non-high-tech firms.
🏛政策担当者:Suggests that policies promoting digitalization can indirectly spur corporate green transformation via M&A activity.
📄 Abstract（原文）
Corporate green transformation is emerging as a major force behind sustainable development and has been integrated into the crucial agenda of modernizing national governance in the new era, at a pivotal moment when both high-quality economic development and the "dual carbon" strategic goals are being advanced simultaneously. This paper uses a fixed-effects model to empirically investigate the effects of digital transformation on corporate green M&A behavior and its underlying mechanisms, using data from Chinese listed businesses from 2008 to 2023. Important Results: (1) After endogeneity treatment and other stability tests, the finding that digital transformation greatly encourages corporate green M&A activity is still strong.(2) Heterogeneous analysis indicates that digital transformation more prominently facilitates green M&A among non-high-tech industries, non-heavy polluting enterprises, and enterprises with high market competition.(3) Mechanism analysis reveals that digital transformation enhances green M&A through three mechanisms: alleviating financing constraints, mitigating information asymmetry, and enhancing innovation efficiency.This study gives a theoretical foundation for governments to create unique policies to encourage superior economic development as well as fresh empirical information on how digital technologies enable corporate green transformation.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.56028/aemr.16.1.56.2026first seen 2026-05-15 21:26:43
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