Based on panel data of A-share listed companies in Shanghai and Shenzhen from 2014 to 2023, this study constructs a theoretical framework on the impact of digital transformation on corporate sustainable development performance. The impact of digital transformation on corporate financial and environmental performance is explained from the dual perspectives of the Resource-Based Theory and Information Asymmetry Theory. Following the Porter Hypothesis, the mediating role of green innovation capability in the relationship between digital transformation and sustainable development performance is verified. Finally, a moderated mediation model with executive environmental attention as the moderating variable is constructed to analyze the boundary effect of executive environmental awareness in the process of digital empowerment. The findings are as follows: digital transformation can significantly enhance corporate sustainable development performance; green innovation capability plays a partially mediating role between digital transformation and corporate sustainable development performance; executive environmental attention has a positive moderating effect on the mediating process of green innovation, where managers with high environmental attention can effectively amplify the green innovation dividends brought by digital transformation.
Chen et al. (Mon,) studied this question.