Promoting the green transformation of enterprises and helping to achieve the dual carbon goal. Based on the theoretical framework of “technology-organization-environment”. The paper constructs a model of the influencing factors of green transformation of heavy polluting enterprises. this uses the necessary conditions analysis method and qualitative comparative analysis method to explore the group effect of green transformation of heavy polluting enterprises with a sample of 514 listed enterprises. The results demonstrate that the green transformation of heavy polluting enterprises is not only a result of the green transformation, but also of the green transformation of heavy polluting enterprises. The results demonstrate that the green transformation of heavy polluting enterprises is not driven by a single antecedent condition. There are six groups of conditions for high level green transformation of heavy polluting enterprises, which are categorized as “scale-driven technology development”, “large-scale dynamic development” and “all-factor driven”. There are seven groups of conditions for the low-level green transformation of heavy polluting enterprises, and the two groups show asymmetry. There are obvious differences between the green transformation paths of state-owned enterprises and non-state-owned enterprises. The research findings provide a reference for the path of green transformation practice of enterprises.
Digital transformation of enterprises is not only a choice to comply with the economic development trend, but also the use of digital technology to reduce costs and increase efficiency is a necessary path for enterprise development. Under the TOE framework, this paper takes digital technology, enterprise digital transformation and digital economy development level as the main variables. By constructing a PVAR model to incorporate the three into the same analytical framework, the dynamic interrelationship and the degree of influence between the three in the time series are empirically examined. The research results show that (1) digital technology, digital transformation of enterprises and the level of digital economy development are causally related to each other and have a mutually reinforcing influence. (2) There are inertia development and self-reinforcement mechanisms among the three variables. (3) Although the interaction among the three variables gradually decreases and tends to zero over time, it still has a strong lag. The research results enrich the dynamic relationship between digital technology, enterprise digital transformation and digital economy development, and provide strategic references for enterprise transformation and upgrading.
Corporate social responsibility plays an important role in promoting national harmony and high‐quality development. And social capital is the foundation of corporate survival and enhancing value is the goal of corporate survival. The interaction between social responsibility, social capital and corporate value and the degree of influence is an issue waiting to be studied. This paper takes listed companies from 2010 to 2020 as the research object, and empirically examines the dynamic interrelationship and degree of influence between the three on time series by constructing the PVAR model to include the three in the same analytical framework. The study shows that: (1) There is a virtuous circle mechanism of “social responsibility‐social capital‐corporate value”. (2) CSR and social responsibility are mutually causal, and social responsibility and corporate value are mutually causal, while social capital can only enhance corporate value in one direction. (3) Although the interaction between the three variables gradually decreases and tends to zero over time, it still has a strong lag, and the effect generated in the current period can lag at least 10 periods. The research results enrich the dynamic relationship between social capital, social responsibility and corporate value, and provide strategic references for corporate value enhancement.
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