The Impact of Climate Risk on Corporate Digital Transformation: Evidence from Chinese Listed Companies

This study investigates how climate risk influences corporate digital transformation using data from Chinese A-share listed companies (2000–2023). Through text analysis and fixed-effects regression models, we demonstrate that firms strategically accelerate digital transformation to mitigate climate risks, particularly non-state-owned enterprises, high-tech firms, and companies with higher institutional ownership. Financial constraints, analyst coverage, and media scrutiny amplify this relationship. Robustness checks including propensity score matching and difference-in-differences analysis confirm our findings. The results provide novel insights into how digital transformation serves as a resilience-building mechanism against climate risks, offering practical guidance for policymakers and corporate strategists in emerging economies.