| At present,China’s economy has entered a stage of high-quality development,and implementing a high-quality development strategy centered on green innovation can assist in the comprehensive green transformation of economic and social development.At the same time,in the wave of the digital economy,digital technologies with big data,artificial intelligence,cloud computing,and other core technologies continue to update and iterate,giving birth to new driving forces for the development of innovative technology.As an important micro innovation entity,the impact on enterprises must be unprecedented.Digital transformation,an important strategy among major enterprises,can not only help enterprises reshape the combination of factors and reasonably allocate resources,but also promote enterprises to innovate business models and inject new growth impetus into China’s economic development."Digitization" and "greening" are important development directions of China’s economy in the future.It is of great significance to explore the impact of Digital transformation on green innovation of enterprises from the micro level,which will promote the overall green transformation of economic and social development.However,the comprehensive green transformation of economic and social development is a long-term and gradual process that requires sustained support from green innovation activities.Therefore,research on sustainable green innovation urgently needs to be given attention.Unfortunately,scholars have mainly discussed how Digital transformation affects enterprise green innovation,but few empirical studies have been conducted on enterprise sustainable green innovation.Accordingly,there is not much detailed analysis on how Digital transformation affects enterprise sustainable green innovation activities.Based on the above reasons,this paper studies the relationship between Digital transformation and sustainable green innovation of enterprises.Firstly,the research background and significance of the impact of Digital transformation on sustainable green innovation of enterprises are described,and the research results of relevant topics at home and abroad are sorted out.Secondly,the paper discusses the mechanism of Digital transformation affecting sustainable green innovation of enterprises,which lays the foundation for empirical research.Finally,on the basis of the existing data,this paper selects the data of non-financial listed companies from 2011 to 2020 as the sample,and analyzes the impact of Digital transformation on sustainable green innovation of enterprises with the idea of progressive empirical research: first,build a two-way fixed effect model to test whether Digital transformation promotes sustainable green innovation of enterprises,and use PSM,instrumental variable method Remove special samples and other methods to test the robustness of the benchmark regression results;Second,use the mesomeric effect model to test the transmission path of Digital transformation affecting enterprises’ sustainable green innovation;Third,use the moderating effect model to test the moderating role of regional intellectual property protection in the process of Digital transformation affecting sustainable green innovation of enterprises;Fourthly,in the heterogeneity analysis section,the impact of enterprise size,enterprise lifecycle,industry,region,and green patent type on the regression results is explored.The main conclusions of this paper are as follows:(1)Digital transformation promotes sustainable green innovation of enterprises.After a series of robustness tests,the conclusions are still valid.(2)Digital transformation promotes sustainable green innovation of enterprises by improving innovation resource input and information transparency of enterprises.(3)From the perspective of external driving mechanism,regional intellectual property protection plays a positive moderating role in the process of Digital transformation affecting enterprises’ sustainable green innovation,which can significantly strengthen the positive impact of digital transformation on enterprises’ sustainable green innovation.(4)The impact of Digital transformation on sustainable green innovation of enterprises is different at the enterprise,industry and regional levels,and the incentive effect of Digital transformation on sustainable green innovation of large enterprises,mature enterprises,manufacturing enterprises and enterprises in the eastern region is more obvious;At the same time,Digital transformation can promote the "quality improvement and increment" of enterprises’ sustainable green innovation,which has a greater impact on the quality of sustainable green innovation.Based on the above conclusions,this article proposes relevant suggestions for enterprises and governments respectively.For enterprises,first of all,they should fully recognize the new development momentum of green innovation given by digital technology,and vigorously promote the process of Digital transformation;Secondly,we should focus on the cultivation and development of human resources to meet our own digital construction needs;Finally,we should actively respond to the government’s call,establish a green development awareness,abandon short-sighted behavior,accurately grasp the relationship between economic benefits and environmental protection,and continue to carry out green innovation activities.For the government,the first step is to strengthen regional intellectual property protection and create a favorable external environment for green innovation activities of enterprises;Secondly,fully leverage the role of "wind vane",actively formulate relevant policies and measures,and provide support for the digital construction of vulnerable enterprises and industries;Finally,it is necessary to fully consider regional differences and promote balanced digital development. |
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