Research on the Impact of Enterprise Digital Transformation on Green Innovation: Based on the Perspective of ESG Performance

Amidst the swift evolution of global economic landscapes and advancements in digital technology, digital transformation has emerged as a pivotal catalyst for transitioning economies from conventional paradigms to high-quality, eco-friendly development. Utilizing data spanning from 2008 to 2022 sourced from China's A-share listed companies, this research delves into the ramifications and operational dynamics of corporate digital transformation on fostering green innovation. Our findings underscore that robust Environmental, Social, and Governance (ESG) performance significantly amplifies the beneficial effects of digital transformation on green innovation endeavors. Further mechanistic insights unveil that enterprises with superior ESG ratings are more adept at harnessing digital transformation to bolster their green innovation capabilities, while the constraining influence of rigid contractual frameworks is diminished in such contexts. Moreover, heterogeneity analysis highlights that the influence of digital transformation on green innovation is particularly accentuated within state-owned enterprises and high-tech sectors. This investigation not only underscores the crucial role of digital transformation in driving corporate green innovation but also offers actionable insights and strategic guidance for enterprises seeking to navigate their path towards green transformation and sustainable, high-quality growth.