Abstract:Promoting the coordinated development of digitalization and greenization, with greenization driving digitalization, serves as a crucial driver for achieving high-quality economic growth. This study utilizes data from A-share listed companies from 2006 to 2023, treating the “low-carbon city” and “carbon emission rights trading” pilot policies as exogenous shocks to command-control carbon regulation policies and market-incentive carbon regulation policies, respectively. Using a DID model, it examines the impact of heterogeneous carbon regulation policies on corporate digital transformation. Findings reveal that both types of carbon regulation policies can facilitate corporate digital transformation, with the promoting effect of command-control policies being weaker than that of market-incentive policies. Mechanism analysis indicates that command-control policies primarily drive digital transformation through environmental administrative penalties, while market-incentive policies achieve this by alleviating financing constraints. Green technology innovation and human capital both act as mediating factors in the promotion of digital transformation by both types of carbon regulation policies. Additionally, the financial background, overseas background, and green background of the board of directors, supervisors, and senior executives exert positive moderating effects. Moreover, the impact of heterogeneous carbon regulation policies on corporate digital transformation exhibits heterogeneity based on geographic location and industry type. This research provides theoretical support and policy insights for accelerating corporate digital transformation and green synergistic development.