How Digital Transformation Intensity Enables Persistent Green Innovation? An Empirical Study of Chinese A-Share Listed Firms

This study focuses on pathways for enterprises to build green competitive advantages in the digital economy era. Building upon matched panel data of A-share listed companies (2001–2021) from the CSMAR database and incorporating green patents (classified by the China National Intellectual Property Administration) and digital patents (screened by the International Patent Classification), this study constructs digital transformation intensity and persistent green innovation indices. By employing two-way fixed effects models and mediation effect models, this study systematically investigates the effect of digital transformation intensity on persistent green innovation, its underlying mechanisms, and the moderating role of the concept of new quality productive forces (NQPF). Findings demonstrate the following content: (1) Digital transformation significantly enhances persistent green innovation capabilities, exhibiting a monotonic increasing relationship without an “inverted U-shaped” inflection point. (2) Heterogeneity analysis reveals more pronounced effects in nonstate-owned enterprises, capital-intensive firms, enterprises in regions with advanced digital infrastructure, companies adopting foundational digital technologies, industries with higher digital penetration, and larger-scale corporations. (3) Mechanism tests identify three empowerment pathways: innovation learning effects, resource allocation effects, and transaction cost reduction effects. (4) NQPF amplifies this relationship through technological synergy and data factor empowerment. This research provides theoretical foundations and policy targets for governments in designing differentiated digital–green transition incentives considering corporate characteristics, accelerating NQPF cultivation, promoting balanced regional digital infrastructure development, and advancing the synergy between digitalization and green–low-carbon transformation.