Digital Transformation, Corporate ESG Performance, and Labor Employment—Empirical Evidence from Industrial Listed Companies on the Shanghai and Shenzhen Stock Exchanges

在世界经济缓慢复苏、逆全球化趋势加剧以及公共卫生事件的冲击等多重因素共同作用下，中国经济面临的不确定性因素增多，对劳动力市场的挑战增大，特别是结构性就业问题变得更加明显。在此背景下，数字技术的飞速进步推动了中国企业数字化转型的浪潮。因此，从企业数字化转型的角度来探讨民生问题具有重要意义。企业在推动经济持续发展和积极承担社会责任方面所展现的ESG (环境、社会和治理)优势，可能成为实现就业稳定目标的新引擎。本研究从微观企业层面分析了数字化转型对就业的影响，并进一步探讨了企业ESG表现在数字化转型与就业关系中的中介作用，结果表明，数字化转型有助于增加就业机会，并且通过提升企业ESG表现，扩大了就业规模。Facing a global economy that’s recovering slowly, a rise in anti-globalization sentiments, and the ongoing effects of the public health events, China’s economic landscape is rife with uncertainty and labor market challenges, especially concerning structural unemployment. In this context, the swift progress of digital technology and its profound integration with the physical economy have driven a surge in digital transformation among Chinese businesses. Thus, examining livelihood challenges through the lens of corporate digital transformation is particularly relevant. The ESG (Environmental, Social, and Governance) strengths that companies exhibit, as they foster sustainable growth and fulfill societal duties, could emerge as a key driver for stable employment. This research delves into the effects of digital transformation on employment at the corporate level and investigates how corporate ESG performance mediates the connection between digital transformation and employment. Findings indicate that digital transformation not only boosts employment chances but also, by improving corporate ESG performance, leads to an expansion in employment size.