Study on the Impact of Digital Transformation on Corporate Sustainability Performance - A Perspective on the Mediating Role of Technological Innovation

Relying on empirical analysis using data from Shanghai and Shenzhen A-share listed firms between 2014 and 2021, this research confirms that digital transformation has a significant enhancing effect on corporate sustainability performance, with technological innovation acting as a crucial mediating factor. Moreover, the study incorporates control variables including firm size, growth, leverage, corporate governance structure, and board characteristics, while further exploring how the impact of digital transformation varies across firms with different ownership types (e.g., state-owned versus private firms) and varying levels of managerial capability. These findings offer valuable insights for policymakers, supporting evidence-based policymaking to accelerate the digital transformation of Chinese enterprises and promote high-quality economic development.