关键词: 地方政府减碳重视度, 数字化转型, 高耗能企业, 碳排放

Abstract: Taking listed companies in high energy-consuming industries in Shanghai and Shenzhen stock markets from 2010 to 2020 as research samples,this paper empirically tests the influence of provincial local governments' carbon reduction emphasis on the digital transformation of enterprises by constructing the index of provincial local governments' carbon reduction emphasis.The results show that local governments' carbon reduction emphasis is significantly positively associated with high energy-consuming enterprises' digital transformation.Mechanism studies find that local governments' emphasis on carbon reduction can lead to an increase in the tax burden on high energy-consuming enterprises ,which,in turn,compels them to implement digital transformation.By examining the distinct characteristics of digital transformation,this paper concludes that local governments' emphasis on carbon reduction primarily encourages the adoption and enhancement of big data technology and digital applications in high-energy-consuming listed companies.The heterogeneity studies show that local governments' emphasis on carbon reduction has a more significant impact on enterprises' digital transformation in private companies,enterprises with high-risk and regions with relatively perfect institutional environment.Furthermore,local governments' emphasis on carbon reduction also reduces the regional carbon emission level by promoting the digital transformation of high energy-consuming enterprises.This paper expands the research on the economic consequences of local government environmental regulation from the perspective of digital transformation,enriches the study of the factors influencing enterprises' digital transformation and offers valuable insights into achieving regional carbon reduction target.

Key words: Local Governments' Emphasis on Carbon Reduction, Digital Transformation, High Energy-consuming Enterprise, Carbon Emission