Can Digital Transformation Affect Enterprise Green Innovation?—Evidence from Chinese Listed Enterprises

Against the mass entrepreneurship and innovation in recent years, China has made painstaking efforts to promote the digital transformation of enterprises. Taking Shanghai and Shenzhen A-share listed enterprises from 2012 to 2022 as samples, this paper empirically tests the relationship between enterprise digital transformation and enterprise green innovation. The research results show: (1) enterprise digital transformation can significantly promote enterprise green innovation; (2) digital transformation can promote enterprise green innovation by increasing R&D investment; (3) enterprise internal control plays a regulating role between digital transformation and enterprise green innovation; (4) the effect of enterprise digital transformation on enterprise green innovation varies among enterprises with regional differences, nature of pollution, and profitability or not. This paper brings digital transformation and enterprise green innovation into the same analysis framework, expands existing research, and puts forward corresponding suggestions and prospects.