IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v16y2024i24p10923-d1542768.html
   My bibliography  Save this article

The Influence of Green Innovation and Digital Transformation on the High-Quality Development of Enterprises: The Mediating Role of ESG Management

Author

Listed:
  • Lei Xi

    (School of Management, Anhui Science and Technology University, Bengbu 233030, China
    Key Laboratory of Philosophy and Social Science of Anhui Province for Digital Rural Construction and Governance, Bengbu 233030, China)

  • Hui Wang

    (School of Management, Anhui Science and Technology University, Bengbu 233030, China)

Abstract

As the effects of the global ecological and environmental crisis continue to escalate, nations around the world are compelled to explore new economic development models aimed at mitigating environmental damage. As an important driving force for economic development, green innovation; digital transformation; and environmental, social, and corporate governance (ESG) have become inevitable choices for pursuing sustainable development in business. Taking Chinese high-tech enterprises as the research object, this study draws on resource-based theory, innovation economics theory, stakeholder theory, and internal organization theory to verify the feasibility of green innovation and digital transformation for enterprises to achieve their goals in high-quality development. Implementing correlation analysis, factorial decomposition, and multiple regression techniques and other methods, hypothesis testing was conducted on the premise of limited questionnaire samples to explore the impact of green innovation and digital transformation on the high-quality development of enterprises and the intermediary effect of ESG management between green innovation, digital transformation, and the high-quality development of enterprises. The results show that green innovation and digital transformation play a crucial role in enhancing the quality of enterprise development; ESG management acts as a partial intermediary in the relationship between green innovation and the high-quality development of enterprises. ESG management serves as a partial intermediary between digital transformation and high-quality development of enterprises. Using the bootstrap method for a robustness test, the conclusion of ESG management mediation is still valid. Based on observation and data, this study provides concrete evidence that ESG management promotes the high-quality development of enterprises and provides practical references for enterprises to form a sustainable development model and government departments to improve ESG management.

Suggested Citation

  • Lei Xi & Hui Wang, 2024. "The Influence of Green Innovation and Digital Transformation on the High-Quality Development of Enterprises: The Mediating Role of ESG Management," Sustainability, MDPI, vol. 16(24), pages 1-22, December.
    • Handle: RePEc:gam:jsusta:v:16:y:2024:i:24:p:10923-:d:1542768
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/16/24/10923/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/16/24/10923/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Cristina I. Fernandes & Pedro Mota Veiga & João J.M. Ferreira & Mathew Hughes, 2021. "Green growth versus economic growth: Do sustainable technology transfer and innovations lead to an imperfect choice?," Business Strategy and the Environment, Wiley Blackwell, vol. 30(4), pages 2021-2037, May.
    Full references (including those not matched with items on IDEAS)

    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. Ferreira, Joao J. & Fernandes, Cristina I. & Veiga, Pedro Mota & Caputo, Andrea, 2022. "The interactions of entrepreneurial attitudes, abilities and aspirations in the (twin) environmental and digital transitions? A dynamic panel data approach," Technology in Society, Elsevier, vol. 71(C).
    2. Aldieri, Luigi & Bruno, Bruna & Makkonen, Teemu & Vinci, Concetto Paolo, 2023. "Environmental innovations, geographically mediated knowledge spillovers, economic and environmental performance," Resources Policy, Elsevier, vol. 81(C).
    3. Yongqin Niu, 2024. "RETRACTED ARTICLE: Toward a greener energy transition: examining the effects of circular economy and carbon footprint for sustainable development," Economic Change and Restructuring, Springer, vol. 57(2), pages 1-22, April.
    4. Alberto Burchi & Bogdan Włodarczyk & Marek Szturo & Duccio Martelli, 2021. "The Effects of Financial Literacy on Sustainable Entrepreneurship," Sustainability, MDPI, vol. 13(9), pages 1-21, April.
    5. Derese Kebede Teklie & Mete Han Yağmur, 2024. "The Role of Green Innovation, Renewable Energy, and Institutional Quality in Promoting Green Growth: Evidence from African Countries," Sustainability, MDPI, vol. 16(14), pages 1-23, July.
    6. Xiaoxue Liu & Fuzhen Cao & Shuangshuang Fan, 2022. "Does Human Capital Matter for China’s Green Growth?—Examination Based on Econometric Model and Machine Learning Methods," IJERPH, MDPI, vol. 19(18), pages 1-27, September.
    7. Lin, Boqiang & Ullah, Sami, 2023. "Towards the goal of going green: Do green growth and innovation matter for environmental sustainability in Pakistan," Energy, Elsevier, vol. 285(C).
    8. Wang, Feipeng & Wong, Wing-Keung & Wang, Zheng & Albasher, Gadah & Alsultan, Nouf & Fatemah, Ambreen, 2023. "Emerging pathways to sustainable economic development: An interdisciplinary exploration of resource efficiency, technological innovation, and ecosystem resilience in resource-rich regions," Resources Policy, Elsevier, vol. 85(PA).
    9. Wafa Alwakid & Sebastian Aparicio & David Urbano, 2021. "The Influence of Green Entrepreneurship on Sustainable Development in Saudi Arabia: The Role of Formal Institutions," IJERPH, MDPI, vol. 18(10), pages 1-23, May.
    10. Pervin Ersoy & Gülmüş Börühan & Sachin Kumar Mangla & Jorge Hernandez Hormazabal & Yigit Kazancoglu & Çisem Lafcı, 2022. "Impact of information technology and knowledge sharing on circular food supply chains for green business growth," Business Strategy and the Environment, Wiley Blackwell, vol. 31(5), pages 1875-1904, July.
    11. Bucher, Florian & Scheu, Lucas & Schröpf, Benedikt, 2022. "Economic complexity and environmental pollution: Evidence from the former socialist transition countries," Discussion Papers 124, Friedrich-Alexander University Erlangen-Nuremberg, Chair of Labour and Regional Economics.
    12. Yang Chen & Oleksii Lyulyov & Tetyana Pimonenko & Aleksy Kwilinski, 2024. "Green development of the country: Role of macroeconomic stability," Energy & Environment, , vol. 35(5), pages 2273-2295, August.
    13. Ze, Fu & Yu, Wence & Ali, Anis & Hishan, Sanil S. & Muda, Iskandar & Khudoykulov, Khurshid, 2023. "Influence of natural resources, ICT, and financial globalization on economic growth: Evidence from G10 countries," Resources Policy, Elsevier, vol. 81(C).
    14. Awais, Minahil & Afzal, Ayesha & Firdousi, Saba & Hasnaoui, Amir, 2023. "Is fintech the new path to sustainable resource utilisation and economic development?," Resources Policy, Elsevier, vol. 81(C).
    15. Shrestha, Anil & Mustafa, Andy Ali & Htike, Myo Myo & You, Vithyea & Kakinaka, Makoto, 2022. "Evolution of energy mix in emerging countries: Modern renewable energy, traditional renewable energy, and non-renewable energy," Renewable Energy, Elsevier, vol. 199(C), pages 419-432.
    16. Kovács, Olivér, 2025. "A minőségi növekedés felé - a nemnövekedés értékelése [The road to qualitative growth: Revisiting the concept of degrowth]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(1), pages 59-91.
    17. Xiangfei Ma & Inna Gryshova & Viktoriia Khaustova & Olena Reshetnyak & Maryna Shcherbata & Denys Bobrovnyk & Mykyta Khaustov, 2022. "Assessment of the Impact of Scientific and Technical Activities on the Economic Growth of World Countries," Sustainability, MDPI, vol. 14(21), pages 1-35, November.
    18. Guo, Yuanyu & Xie, Wenlan & Yang, Yang, 2024. "Dual green innovation capability, environmental regulation intensity, and high-quality economic development in China: Can green and growth go together?," Finance Research Letters, Elsevier, vol. 63(C).
    19. Ngo, Thanh & Trinh, Hai Hong & Haouas, Ilham & Ullah, Subhan, 2022. "Examining the bidirectional nexus between financial development and green growth: International evidence through the roles of human capital and education expenditure," Resources Policy, Elsevier, vol. 79(C).
    20. Samuel Ogbeibu & Charbel Jose Chiappetta Jabbour & James Gaskin & Abdelhak Senadjki & Mathew Hughes, 2021. "Leveraging STARA competencies and green creativity to boost green organisational innovative evidence: A praxis for sustainable development," Business Strategy and the Environment, Wiley Blackwell, vol. 30(5), pages 2421-2440, July.

    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:gam:jsusta:v:16:y:2024:i:24:p:10923-:d:1542768. 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: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    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.