The impact of digital transformation of resource-based enterprises on green innovation: Mechanism analysis based on TOE framework

Resource-based enterprises, as significant sources of pollution and critical constraints on green development, play an essential role in mitigating the increasingly severe global environmental issues through their green innovation efforts. In this context, digital transformation, characterized by its “intelligence, flexibility, and openness”, disrupts traditional combinations of resources and emerges as a vital driver for promoting green innovation in resource-based enterprises. However, existing research on the impact of digital transformation on green innovation in these enterprises still requires further exploration. This study utilizes data from China's A-share resource-based listed companies from 2016 to 2022 to construct a bidirectional fixed effects model aimed at examining the impact of digital transformation on green innovation. Furthermore, we develop a Technology-Organization-Environment (TOE) theoretical framework to identify the potential mechanisms at play. The findings indicate that digital transformation significantly enhances green innovation in resource-based enterprises, particularly substantive green innovation. Key mediating factors include technology integration capability, internal control quality, information environment quality, and external financing constraints. Notably, for non-state-owned resource-based enterprises, those in the primary processing industry, and those located in the eastern region, digital transformation exerts a more positive effect on green innovation, which also applies to substantive green innovation. In summary, this research provides important insights into the digital transformation and green innovation of resource-based enterprises.