Impact and improvement pathways of intelligent transformation on enterprise green technology innovation under renewable energy substitution

Enterprise green technology innovation (GTI) is a critical indicator for promoting renewable energy substitution, and intelligent transformation plays a pivotal role in this process. In this paper, we use a semi-parametric partial linear additive model to investigate the impact of intelligent transformation on enterprise GTI, which analyzes the panel data of Chinese A-share listed enterprises from 2008 to 2022. The findings reveal that intelligent transformation impacts enterprise GTI significantly with results withstanding robustness testing. The study shows that the improvement pathways of intelligent transformation on enterprise GTI are particularly pronounced in competitive enterprises, high-tech enterprises, and labor-intensive enterprises, while it has adverse impacts on technology-intensive enterprises. Further, the study identifies the improvement pathways of intelligent transformation indirectly impact enterprise GTI by easing financing constraints and strengthening research and development (R&D). Moreover, the improvement pathways of enterprise GTI quantity and quality are impacted by the fixed asset ratio. Specifically, an inverted U-shaped relationship emerges between the fixed asset ratio and the enterprise GTI quantity, while excessively low fixed asset ratios impede enterprise GTI quality and exceed a specific threshold markedly enhances GTI quality. This study provides valuable insights into intelligent transformation into the external and internal improvement pathways on enterprise GTI, which promotes economic growth and fosters high-quality renewable energy substitution development.