44 / 2023-12-26 15:13:31

Can Corporate Digital Transformation Drive Heterogeneous Green Innovation? Threshold Effect of ESG Performance

Corporate digital transformation,Green technology innovation,Green management innovation,ESG performance,Threshold Effect

The utilization of digital technology for achieving green transformation has become crucial for enterprises to gain sustainable competitive advantage in the digital economy era. This study examines the impact of corporate digital transformation (CDT) on heterogeneous green innovation in Chinese A-share listed companies from 2010 to 2021. By drawing on externality theory and resource allocation theory, a double fixed-effects model is constructed to analyze the relationship and explore the threshold effect of corporate ESG performance. The findings indicate that CDT not only enhances green technology innovation (GTI) but also significantly improves green management innovation (GMI). Additionally, the study reveals the threshold effect of corporate ESG performance in this relationship. Specifically, for GMI, there is a double threshold effect of ESG performance, whereas for GTI, there is a single threshold effect. Meanwhile, the incentive effect of CDT on heterogeneous green innovation is significantly enhanced when enterprises cross the ESG threshold. Heterogeneity analysis suggests that state-owned and non-high-tech enterprises have a higher threshold for ESG performance and experience a greater impact from CDT on heterogeneous green innovation. This study provides valuable insights into the management and policy implications of deepening digital transformation and enhancing green innovation.