## 6 Conclusions and Implications  
Under the wave of digital transformation, international and domestic attention to ESG performance and its evaluation system has grown rapidly. Under this tone, this paper empirically verifies that digital transformation is positively related to ESG performance. The study found that: (1) Enterprise digital transformation can significantly improve the ESG performance of enterprises; (2) Monopoly will distort the 'digital goodness' effect and reduce the ESG performance of enterprises; (3) There are four specific paths for enterprise digital transformation to affect enterprise ESG performance: reducing the myopia of enterprise managers, improving enterprise innovation ability, enhancing enterprise information transparency, and enhancing enterprise governance ability. (4) Further analysis shows that the role of digital transformation in improving the ESG performance of enterprises will be \begin{table}
\begin{tabular}{c c c c c c} \hline \hline  & **(1)** & **(2)** & **(3)** & **(4)** & **(5)** & **(6)** \\ \hline  & _ESG_ & _ESG_ & _ESG_ & _ESG_ & _ESG_ \\ \hline  & & & (0.0402) & (0.0323) & & \\ \hline _Coa_ & & & & 0.170 *** & 0.0865 *** \\ \hline  & & & & (0.0083) & (0.0080) \\ \hline Insize & 0.0822 *** & 0.0751 *** & & 0.0674 *** \\ \hline  & (0.0029) & (0.0029) & (0.0030) \\ \hline lev & \(-0.0950\) *** & \(-0.0684\) *** & \(-0.0606\) *** \\ \hline  & (0.0187) & (0.0184) & (0.0184) \\ \hline growth & \(-0.0025\) & \(-0.0032\) & \(-0.0030\) \\ \hline  & (0.0027) & (0.0026) & (0.00269) \\ \hline roa & \(-0.1603\) *** & \(-0.0625\) & \(-0.0475\) \\ \hline  & (0.0490) & (0.0485) & (0.0485) \\ \hline cashflow & 0.1660 *** & 0.1500 *** & 0.1130 *** \\ \hline  & (0.0435) & (0.0430) & (0.0431) \\ \hline mb & \(-0.0028\) & 0.0039 & 0.0127 \\ \hline  & (0.0079) & (0.0078) & (0.0078) \\ \hline fish1 & 0.0252 & 0.0196 & 0.0332 * \\ \hline  & (0.0179) & (0.0177) & (0.0177) \\ \hline dlzb & 0.0672 & 0.0503 & 0.0390 \\ \hline  & (0.0467) & (0.0463) & (0.0459) \\ \hline big4 & 0.1410 *** & 0.1390 *** & 0.1400 *** \\ \hline  & (0.0096) & (0.0094) & (0.0095) \\ \hline Inage & 0.1190 *** & 0.0917 *** & 0.0854 *** \\ \hline  & (0.0085) & (0.0083) & (0.0086) \\ \hline \(\_\)cons & 1.8390 *** & 0.5510 *** & 1.2510 *** & \(-0.4070\) *** & 2.8060 *** & 1.1250 *** \\ \hline  & (0.1340) & (0.1370) & (0.1170) & (0.1120) & (0.0239) & (0.0746) \\ \hline Industry & control & control & control & control & control \\ \hline Year & control & control & control & control & control \\ \hline \(N\) & 9767 & 9767 & 9767 & 9767 & 9767 \\ \hline \(R^{2}\) & 0.115 & 0.290 & 0.164 & 0.308 & 0.189 & 0.310 \\ \hline adj. \(R^{2}\) & 0.111 & 0.285 & 0.160 & 0.304 & 0.185 & 0.305 \\ \hline \hline \end{tabular}
\end{table} 
Table 15: _Cont._transmitted outward through three ways: the same industry, the same region and common institutional investors. Based on the above empirical analysis and conclusions, this paper puts forward the following policy recommendations:  
First, support enterprises to further promote digital transformation, and increase investment in digital enterprises, thus fostering a digital transformation and development environment. Although the individual development level of digital transformation of Chinese enterprises is still lagging behind the international level, if the policy support for digital transformation investment is continuously strengthened, the overall scale of China's digital economy can lead the world in magnitude, and data informatization can be used as a kind of'resource', and the interest drive brought by this'resource' can positively affect the ESG performance of enterprises. Whether from their own or external evaluation, good ESG performance of enterprises can bring sustainable benefits to enterprises themselves and can improve the performance of enterprises from the aspects of financing conditions, management costs and supervision efficiency.