Exploring the Driving Mechanisms of Green Intellectual Capital on Enterprise Green Transformation: Evidence From Chinese Listed Firms

In the context of China’s dual objectives of carbon peaking and carbon neutrality, fostering the green transformation and sustainable growth of Chinese enterprises has become a crucial societal focus. This study utilizes resource-based theory and dynamic capability theory as theoretical foundation, and drawing upon secondary data from China’s A-share listed companies spanning 2008 to 2022, empirically examines the impact of green intellectual capital (GIC) on enterprise green transformation (EGT) and its mechanism. The findings reveal that GIC has a significant positive impact on EGT. Furthermore, GIC accelerates the process of EGT by influencing absorption capability, adaptive capability, and innovation capability; and higher levels of green management innovation are conducive to strengthening the role of GIC on EGT. Additional findings reveal that the impact of GIC on EGT exhibits heterogeneity, with heavily polluting and manufacturing enterprises being more sensitive to GIC, and enterprises with better ESG performance and regions with stricter environmental regulation demonstrate a more significant promoting effect of GIC on EGT.