Abstract
Driven by global "dual-carbon" objectives, the relationship between corporate digital transformation and green technological innovation is receiving increasing attention. Drawing on panel data from Chinese A-share listed companies from 2015-2021, this study empirically examines the impact of digital transformation on corporate green innovation, as well as the moderating role of ESG (Environmental, Social, and Governance) performance. The results indicate that digital transformation significantly promotes green innovation. Furthermore, companies with better ESG performance demonstrate a stronger promotion of green innovation through digital transformation. To confirm the robustness of our findings, the Bootstrap method and robust standard errors were employed. Subsequent heterogeneity analysis revealed that the ESG effect is more pronounced in state-owned enterprises, and the marginal effects of digital transformation diminish over time. This research not only enriches the micro-mechanism studies on digital transformation and green development but also offers insights for managerial practice and policy formulation.
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