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Abstract Drawing on institutional theory and resource dependence theory, this paper examines how China’s National Big Data Comprehensive Pilot Zone (CBDPZ) policy influences corporate carbon performance and explores key moderating contingencies. Using a staggered difference-in-differences (DID) approach on panel data from Chinese A-share listed firms (2011–2023), we find that the CBDPZ policy significantly improves corporate carbon performance. Mechanism analysis reveals that the policy promotes carbon reduction through three pathways: digital transformation, green innovation, and human capital upgrading. Furthermore, we find these effects are amplified in firms led by environmentally aware executives and those receiving government environmental subsidies. Heterogeneity analysis indicates more pronounced effects among non-high-tech firms, state-owned firms, eastern-region firms, and those in high-regulation, high public-concern, or heavily polluting sectors. This study contributes to the literature by illuminating how non-environmental digital policies generate environmental co-benefits and offering empirical evidence for evaluating the sustainability implications of digital economy policies in emerging economies.
Liu et al. (Thu,) studied this question.