Digital Transformation and Green Innovation in State-Owned Enterprises: Evidence Based on Mixed Ownership Reform

This paper examines the impact and mechanism of digital transformation on green innovation in state-owned enterprises. The study uses Chinese A-share listed state-owned enterprises from 2012 to 2023 as the sample, with the perspective of mixed ownership reform. The research sample is 4468 panel data in total. The study uses fixed effect regression analysis, Heckman two-stage test, and instrumental variable test methods, etc. The findings indicate that digital transformation positively influences the degree of green innovation within state-owned enterprises. Furthermore, the mixed ownership reform positively moderates this influence impact. Mechanism test results indicate that digital transformation fosters green innovation by enhancing the level of information disclosure and reducing management shortsightedness. The heterogeneity analysis reveals a more pronounced effect on the relationship among enterprises in the eastern region and those operating within the high-tech industry. The study not only contributes to theoretical implication of digital transformation but also provides empirical guidance for policy formulation.