IDEAS home Printed from https://ideas.repec.org/a/eee/finlet/v78y2025ics1544612325004532.html

Digital transformation, artificial intelligence and enterprise innovation performance

Author

Listed:
  • Ma, Jinghao
  • Shang, Yujie
  • Liang, Zhenghan

Abstract

This research focuses on examining the connection between digital transformation (DT) and enterprise innovation performance (EIP). It uncovers that DT plays a crucial role in enhancing EIP, with artificial intelligence (AI) serving as a significant intermediary in this process. When comparing enterprises based on their ownership, it is observed that DT has a more profound effect on the EIP of state-owned enterprises than on non-state-owned ones. The findings of this study offer valuable theoretical foundations and practical guidance for developing digital business strategies, advancing DT, and boosting EIP.

Suggested Citation

  • Ma, Jinghao & Shang, Yujie & Liang, Zhenghan, 2025. "Digital transformation, artificial intelligence and enterprise innovation performance," Finance Research Letters, Elsevier, vol. 78(C).
    • Handle: RePEc:eee:finlet:v:78:y:2025:i:c:s1544612325004532
    DOI: 10.1016/j.frl.2025.107190
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1544612325004532
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.frl.2025.107190?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. He, Bin & Chen, Haiyang & Li, Zheng & Zhou, Xizhen, 2023. "Information and communication technology and innovation performance of firms: Evidence from Chinese listed state-owned enterprises," International Review of Economics & Finance, Elsevier, vol. 88(C), pages 47-59.
    2. Wang, Chenxi & Deng, Xincai & Wang, Deli & Pan, Xingguang, 2024. "Financial regulation, financing constraints, and enterprise innovation performance," International Review of Financial Analysis, Elsevier, vol. 95(PB).
    3. Li, Mou & Wei, Lei, 2024. "The path of digital transformation driving enterprise growth: The moderating role of financing constraints," International Review of Financial Analysis, Elsevier, vol. 96(PA).
    4. Wang, Zhiwei & Yang, Fan, 2024. "Digital transformation and corporate innovation with herd effects," Finance Research Letters, Elsevier, vol. 62(PB).
    5. Ren, Xiaohang & Li, Wenqi & Li, Yiying, 2024. "Climate risk, digital transformation and corporate green innovation efficiency: Evidence from China," Technological Forecasting and Social Change, Elsevier, vol. 209(C).
    6. Sun, Yumeng, 2024. "Digital transformation and corporates' green technology innovation performance–The mediating role of knowledge sharing," Finance Research Letters, Elsevier, vol. 62(PA).
    7. Aiping Wang & Rui Han, 2024. "Can digital transformation prohibit corporate fraud? Empirical evidence from China," Applied Economics Letters, Taylor & Francis Journals, vol. 31(16), pages 1505-1512, September.
    8. Hemei Li & Zhenya Liu & Virginie Hachard, 2024. "Digital Transformation Driving Green Innovation: Evidence from Chinese A-Share Firms," Post-Print hal-04894961, HAL.
    9. Zhang, Wenqiu & Zhao, Junli & Li, Hao & Chen, Shuilin, 2024. "Does digital transformation empower green innovation? Evidence from listed companies in heavily polluting industries in China," Finance Research Letters, Elsevier, vol. 66(C).
    10. Lei, Wei & Tang, Kaitao & Shao, Jingfeng & Ran, Feng, 2024. "Digital transformation, supply chain finance, and enterprise innovation," Finance Research Letters, Elsevier, vol. 70(C).
    11. Xing, Xinpeng & Chen, Tiantian & Yang, Xiaoming & Liu, Tiansen, 2023. "Digital transformation and innovation performance of China's manufacturers? A configurational approach," Technology in Society, Elsevier, vol. 75(C).
    12. Xingguang Guo & Xi Chen, 2023. "The Impact of Digital Transformation on Manufacturing-Enterprise Innovation: Empirical Evidence from China," Sustainability, MDPI, vol. 15(4), pages 1-19, February.
    13. Xu, Chao & Sun, Guanglin & Kong, Tao, 2024. "The impact of digital transformation on enterprise green innovation," International Review of Economics & Finance, Elsevier, vol. 90(C), pages 1-12.
    14. Chengwei Ge & Wendong Lv & Junli Wang, 2023. "The Impact of Digital Technology Innovation Network Embedding on Firms’ Innovation Performance: The Role of Knowledge Acquisition and Digital Transformation," Sustainability, MDPI, vol. 15(8), pages 1-21, April.
    15. Shuhao Liang & Tingting Li, 2022. "Can Digital Transformation Promote Innovation Performance in Manufacturing Enterprises? The Mediating Role of R&D Capability," Sustainability, MDPI, vol. 14(17), pages 1-20, September.
    16. Tian, Guangning & Li, Bo & Cheng, Yue, 2022. "Does digital transformation matter for corporate risk-taking?," Finance Research Letters, Elsevier, vol. 49(C).
    17. Li, Hemei & Liu, Zhenya & Hachard, Virginie, 2024. "Digital transformation driving green innovation: Evidence from Chinese A-Share firms," International Review of Economics & Finance, Elsevier, vol. 95(C).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Yang, Tongshu & Zhou, Nina, 2025. "Artificial intelligence and the quality of corporate accounting information disclosure," Finance Research Letters, Elsevier, vol. 85(PD).
    2. Binbin Yu & Nanping Jiang & Zhigang Wang, 2025. "Digital transformation and enterprise innovation efficiency: evidence from China’s A-share listed companies," Economic Change and Restructuring, Springer, vol. 58(5), pages 1-35, October.
    3. Ma, Yuan & Zhang, Wenchao & Ma, Chengxiang & Ai, Yudong & Hu, Jun, 2025. "Artificial intelligence, data elements, digital economy, and corporate innovation performance," International Review of Economics & Finance, Elsevier, vol. 103(C).
    4. Zhang, Yuan & Li, Yunqian, 2025. "The impact of artificial intelligence on government digital service capacity," International Review of Economics & Finance, Elsevier, vol. 102(C).
    5. Wu, Yulin & Zhang, Jiahui & Cai, Xinyu, 2025. "Impact of regional artificial intelligence development on corporate environmental information," Finance Research Letters, Elsevier, vol. 80(C).
    6. Shi, Xiuping & Liu, Hao, 2025. "How does digital supply chain transformation enhance sustainable performance of renewable energy enterprises?," International Review of Economics & Finance, Elsevier, vol. 103(C).
    7. Liu, Rong & Luo, Wenying & Su, Ruiqian, 2025. "How does cultural diversity influence corporate AI development?," Finance Research Letters, Elsevier, vol. 81(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ai, Mingye & Yu, Yang & Bu, Yan, 2025. "The impact of digital transformation of resource-based enterprises on green innovation: Mechanism analysis based on TOE framework," Innovation and Green Development, Elsevier, vol. 4(4).
    2. Zhang, Xinyu & Liu, Yixuan & Yu, Shaoze & Lin, Ouwen & Meng, Lu, 2025. "Impact of environmental protection tax on enterprise digital transformation: Evidence from Chinese listed firms," International Review of Economics & Finance, Elsevier, vol. 97(C).
    3. Zhang, Qixin & Xiang, Zhiqiang & Xiang, Zhiguo, 2025. "New media supervision, digital transformation, and corporate green investment," Finance Research Letters, Elsevier, vol. 76(C).
    4. Wang, Min & Feng, Liang, 2025. "Market competition and corporate digital transformation: The promoting role and mechanism of government subsidies," Finance Research Letters, Elsevier, vol. 80(C).
    5. Teng, Yuqiang & Du, Anna Min & Lin, Boqiang, 2024. "The mechanism of supply chain efficiency in enterprise digital transformation and total factor productivity," International Review of Financial Analysis, Elsevier, vol. 96(PA).
    6. Tang, Chaoli & Dong, Shuyun & Zhou, Rui, 2025. "The impact of digitalization on corporate resilience," International Review of Economics & Finance, Elsevier, vol. 97(C).
    7. Chen, Chen & Xue, Zhixin, 2025. "New-type infrastructure and corporate digital transformation: Evidence from a multimethod machine learning approach," Finance Research Letters, Elsevier, vol. 74(C).
    8. Wu, Weihong & Zhou, Hui & Huo, Zheng, 2025. "The effect of issuers’ digital transformation on bond rating quality: Evidence from China’s bond market," Research in International Business and Finance, Elsevier, vol. 79(C).
    9. Wei, Feiqiong & Xie, Baiwei & Chen, Mingyan, 2025. "Digital financial inclusion, e-commerce development and entrepreneurial activity," International Review of Financial Analysis, Elsevier, vol. 97(C).
    10. Li, Pengcheng & Guo, Xiaochuan & Wang, Fengzheng & Zhang, Qifeng, 2025. "Digital transformation and corporate innovation boundaries: Role of supply chain concentration and transparency," International Review of Financial Analysis, Elsevier, vol. 98(C).
    11. Liu, Dongxia & Chen, Liming, 2025. "Supply chain innovation support policies, financing constraints, and corporate digital transformation," International Review of Financial Analysis, Elsevier, vol. 108(PA).
    12. Chao, Li & Hongdi, Qin & Yijie, Chen, 2024. "Digital transformation and high-quality development of sports-listed companies: An analysis of vocabulary from annual report texts," Finance Research Letters, Elsevier, vol. 67(PA).
    13. Xia, Weifeng & Ruan, Zhiyu & Ma, Shenglin & Zhao, Jin & Yan, Jiale, 2025. "Can the digital economy enhance carbon emission efficiency? Evidence from 269 cities in China," International Review of Economics & Finance, Elsevier, vol. 97(C).
    14. Cai, Cheng & Zhou, Lianjie & Liu, Dongshuang, 2025. "Dynamic relationship between tax reputation, digital transformation, and corporate tax compliance in financial markets," International Review of Financial Analysis, Elsevier, vol. 104(PA).
    15. Ma, Li-na & Zhang, Jing-jing, 2025. "Digital transformation, board structure, and organizational innovation capacity," Finance Research Letters, Elsevier, vol. 73(C).
    16. Zheng, Dawei & Wang, Tingdong, 2025. "Supply chain resilience, logistics efficiency, and enterprise competitiveness," Finance Research Letters, Elsevier, vol. 79(C).
    17. Ye, Xincai & Miao, Lin, 2025. "Digital transformation and green finance efficiency of tourism enterprises: The effect of credit ratings," International Review of Financial Analysis, Elsevier, vol. 106(C).
    18. Mai, Ruidong, 2025. "Digital transformation and corporate donations from the perspective of legitimacy management," Research in International Business and Finance, Elsevier, vol. 73(PB).
    19. Zhang, Chaoshuai & Qiu, Peng & Zhang, Liang & Hong, Xiaoyu & Wang, Dingqing, 2024. "The impact of digital transformation on enterprises' export stability: Evidence from listed companies in China," International Review of Financial Analysis, Elsevier, vol. 96(PA).
    20. Wang, Hua & Tan, Xinyu & Li, Mengzhe, 2025. "Extreme climate attention and corporate energy innovation: Empirical evidence from China," Energy Economics, Elsevier, vol. 148(C).

    More about this item

    Keywords

    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:finlet:v:78:y:2025:i:c:s1544612325004532. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/frl .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.