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Digital transformation has been a significant driver for economic growth. Typically high energy consuming enterprises face significant pressure to maintain high-quality development. This study investigates the influence of digitalization on high energy consuming enterprises’ total factor productivity. Results manifest that digitalization acts as a driver for total factor productivity. Nevertheless, the impact of digitalization on total factor productivity demonstrates significant heterogeneity contingent upon both internal enterprise characteristics and external environmental factors. From an enterprise's internal perspective, the positive influence of enterprise digitalization on total factor productivity is particularly pronounced in high energy consuming enterprises characterized by state-owned and lower growth. From an external perspective, the impact of digitalization is more pronounced among enterprises located in regions with advanced digital infrastructure and in mid-western areas. Further, mediating effect analysis reveals that digitalization can boost total factor productivity by enhancing innovation investment and promoting management efficiency. These results still hold under a set of robustness checks. Based on these empirical findings, we derive targeted policy recommendations. © 2025 Elsevier Inc.
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Journal of Asian Economics
ISSN: 1049-0078
Year: 2025
Volume: 100
2 . 9 0 0
JCR@2023
Cited Count:
SCOPUS Cited Count: 1
ESI Highly Cited Papers on the List: 0 Unfold All
WanFang Cited Count:
Chinese Cited Count:
30 Days PV: 3
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