{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,5,3]],"date-time":"2026-05-03T10:47:45Z","timestamp":1777805265854,"version":"3.51.4"},"reference-count":102,"publisher":"MDPI AG","issue":"7","license":[{"start":{"date-parts":[[2023,7,5]],"date-time":"2023-07-05T00:00:00Z","timestamp":1688515200000},"content-version":"vor","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Systems"],"abstract":"<jats:p>Digital transformation (DT) has become the new normal. Research has focused on the effect of the overall level of DT in enterprises. However, the effects of DT across different dimensions remain unclear. This study divided DT into technology- (TDT) and market-based digital transformation (MDT). It examined the effects on corporate sustainability and how ambidextrous innovation affects the relationship between both types and corporate sustainability. This study used the two-way fixed-effects model and the two-stage least squares method to study A-share listed companies in China from 2013 to 2021. The results showed that both TDT and MDT had positive effects on corporate sustainability. The higher the levels of exploratory and exploitative innovation in enterprises, the stronger the contribution of both types of DT to corporate sustainability. The findings validate the research on DT in line with the resource-based view, enrich the literature on and expand the boundary conditions of DT applications across various dimensions, and offer useful insights for practitioners.<\/jats:p>","DOI":"10.3390\/systems11070344","type":"journal-article","created":{"date-parts":[[2023,7,6]],"date-time":"2023-07-06T00:41:27Z","timestamp":1688604087000},"page":"344","update-policy":"https:\/\/doi.org\/10.3390\/mdpi_crossmark_policy","source":"Crossref","is-referenced-by-count":19,"title":["Digital Transformation and Corporate Sustainability: The Moderating Effect of Ambidextrous Innovation"],"prefix":"10.3390","volume":"11","author":[{"given":"Ying","family":"Ying","sequence":"first","affiliation":[{"name":"College of Business, Gachon University, Seongnam 13120, Republic of Korea"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-4835-8664","authenticated-orcid":false,"given":"Shanyue","family":"Jin","sequence":"additional","affiliation":[{"name":"College of Business, Gachon University, Seongnam 13120, Republic of Korea"}]}],"member":"1968","published-online":{"date-parts":[[2023,7,5]]},"reference":[{"key":"ref_1","doi-asserted-by":"crossref","unstructured":"Guo, L., and Xu, L. (2021). The Effects of Digital Transformation on Firm Performance: Evidence from China\u2019s Manufacturing Sector. Sustainability, 13.","DOI":"10.3390\/su132212844"},{"key":"ref_2","doi-asserted-by":"crossref","first-page":"642","DOI":"10.1016\/j.jbusres.2020.10.033","article-title":"Digital transformation and customer value creation in Made in Italy SMEs: A dynamic capabilities perspective","volume":"123","author":"Matarazzo","year":"2021","journal-title":"J. Bus. Res."},{"key":"ref_3","doi-asserted-by":"crossref","first-page":"1075","DOI":"10.1108\/BPMJ-03-2019-0134","article-title":"Smart production systems drivers for business process management improvement: An integrative framework","volume":"26","author":"Queiroz","year":"2020","journal-title":"Bus. Process Manag. J."},{"key":"ref_4","doi-asserted-by":"crossref","first-page":"102217","DOI":"10.1016\/j.technovation.2020.102217","article-title":"Developing a unified definition of digital transformation","volume":"102","author":"Gong","year":"2021","journal-title":"Technovation"},{"key":"ref_5","doi-asserted-by":"crossref","first-page":"101841","DOI":"10.1016\/j.techsoc.2021.101841","article-title":"Does digital transformation enhance a firm\u2019s performance? Evidence from China","volume":"68","author":"Zhai","year":"2022","journal-title":"Technol. Soc."},{"key":"ref_6","doi-asserted-by":"crossref","first-page":"889","DOI":"10.1016\/j.jbusres.2019.09.022","article-title":"Digital transformation: A multidisciplinary reflection and research agenda","volume":"122","author":"Verhoef","year":"2021","journal-title":"J. Bus. Res."},{"key":"ref_7","doi-asserted-by":"crossref","first-page":"101763","DOI":"10.1016\/j.techsoc.2021.101763","article-title":"Modeling the effects of digital transformation in Indian manufacturing industry","volume":"67","author":"Singh","year":"2021","journal-title":"Technol. Soc."},{"key":"ref_8","doi-asserted-by":"crossref","first-page":"2110","DOI":"10.1002\/mde.3805","article-title":"The impact of enterprise digital transformation on financial performance\u2014Evidence from Mainland China manufacturing firms","volume":"44","author":"Yonghong","year":"2023","journal-title":"Manag. Decis. Econ."},{"key":"ref_9","doi-asserted-by":"crossref","first-page":"975","DOI":"10.1080\/09537287.2020.1780508","article-title":"The impact of digitalization and servitization on the financial performance of a firm: An empirical analysis","volume":"32","author":"Soares","year":"2021","journal-title":"Prod. Plan. Control"},{"key":"ref_10","doi-asserted-by":"crossref","first-page":"1757","DOI":"10.1002\/csr.2324","article-title":"Digital transformation and corporate environmental performance: The moderating role of board characteristics","volume":"29","author":"Chen","year":"2022","journal-title":"Corp. Soc. Responsib. Environ."},{"key":"ref_11","doi-asserted-by":"crossref","unstructured":"Xu, P., Chen, L., and Dai, H. (2022). Pathways to Sustainable Development: Corporate Digital Transformation and Environmental Performance in China. Sustainability, 15.","DOI":"10.3390\/su15010256"},{"key":"ref_12","doi-asserted-by":"crossref","unstructured":"He, L.-Y., and Chen, K.-X. (2023). Digital transformation and carbon performance: Evidence from firm-level data. Environ. Dev. Sustain.","DOI":"10.1007\/s10668-023-03143-x"},{"key":"ref_13","doi-asserted-by":"crossref","first-page":"101542","DOI":"10.1016\/j.jup.2023.101542","article-title":"Does digital transformation improve the operational efficiency of Chinese power enterprises?","volume":"82","author":"Lin","year":"2023","journal-title":"Util. Policy"},{"key":"ref_14","doi-asserted-by":"crossref","first-page":"103457","DOI":"10.1016\/j.frl.2022.103457","article-title":"Breaking barriers to innovation: The power of digital transformation","volume":"51","author":"Niu","year":"2023","journal-title":"Financ. Res. Lett."},{"key":"ref_15","doi-asserted-by":"crossref","first-page":"100317","DOI":"10.1016\/j.jik.2023.100317","article-title":"Exploring the effect of digital transformation on Firms\u2019 innovation performance","volume":"8","author":"Li","year":"2023","journal-title":"J. Innov. Knowl."},{"key":"ref_16","doi-asserted-by":"crossref","first-page":"999","DOI":"10.1177\/1042258719899425","article-title":"Digital Sustainability and Entrepreneurship: How Digital Innovations Are Helping Tackle Climate Change and Sustainable Development","volume":"45","author":"George","year":"2021","journal-title":"Entrep. Theory Pract."},{"key":"ref_17","doi-asserted-by":"crossref","unstructured":"Ji, H., Miao, Z., Wan, J., and Lin, L. (2022). Digital transformation and financial performance: The moderating role of entrepreneurs\u2019 social capital. Technol. Anal. Strateg. Manag., 1\u201318.","DOI":"10.1080\/09537325.2022.2118110"},{"key":"ref_18","doi-asserted-by":"crossref","first-page":"118","DOI":"10.1016\/j.jsis.2019.01.003","article-title":"Understanding digital transformation: A review and a research agenda","volume":"28","author":"Vial","year":"2019","journal-title":"J. Strateg. Inf. Syst."},{"key":"ref_19","doi-asserted-by":"crossref","first-page":"341","DOI":"10.1016\/j.techfore.2019.01.014","article-title":"Servitization and Industry 4.0 convergence in the digital transformation of product firms: A business model innovation perspective","volume":"141","author":"Frank","year":"2019","journal-title":"Technol. Forecast. Soc. Chan."},{"key":"ref_20","doi-asserted-by":"crossref","first-page":"233","DOI":"10.1007\/s11301-020-00185-7","article-title":"Digital transformation: A review, synthesis and opportunities for future research","volume":"71","author":"Nadkarni","year":"2021","journal-title":"Manag. Rev. Q."},{"key":"ref_21","doi-asserted-by":"crossref","first-page":"103983","DOI":"10.1016\/j.frl.2023.103983","article-title":"Can corporate digital transformation alleviate financial distress?","volume":"55","author":"Cui","year":"2023","journal-title":"Financ. Res. Lett."},{"key":"ref_22","doi-asserted-by":"crossref","first-page":"1159","DOI":"10.1111\/joms.12639","article-title":"A Systematic Review of the Literature on Digital Transformation: Insights and Implications for Strategy and Organizational Change","volume":"58","author":"Hanelt","year":"2021","journal-title":"J. Manag. Stud."},{"key":"ref_23","doi-asserted-by":"crossref","first-page":"37","DOI":"10.1177\/0008125620934864","article-title":"Implementing a Digital Strategy: Learning from the Experience of Three Digital Transformation Projects","volume":"62","author":"Correani","year":"2020","journal-title":"Calif. Manag. Rev."},{"key":"ref_24","doi-asserted-by":"crossref","first-page":"1","DOI":"10.1108\/EJIM-11-2019-0330","article-title":"The digitalization of the innovation process: Challenges and opportunities from a management perspective","volume":"23","author":"Agostini","year":"2020","journal-title":"Eur. J. Innov. Manag."},{"key":"ref_25","doi-asserted-by":"crossref","first-page":"1162","DOI":"10.3390\/jtaer17030059","article-title":"Discovering Themes and Trends in Digital Transformation and Innovation Research","volume":"17","author":"Gao","year":"2022","journal-title":"J. Theor. Appl. Electron. Commer. Res."},{"key":"ref_26","doi-asserted-by":"crossref","first-page":"285","DOI":"10.1080\/13662716.2019.1633909","article-title":"Collaborative ties and ambidextrous innovation: Insights from internal and external knowledge acquisition","volume":"27","author":"Xie","year":"2020","journal-title":"Ind. Innov."},{"key":"ref_27","doi-asserted-by":"crossref","first-page":"785","DOI":"10.1108\/JBIM-03-2019-0121","article-title":"Dynamic positioning matters: Uncovering its fundamental role in organization\u2019s innovation performance","volume":"35","author":"Wang","year":"2019","journal-title":"J. Bus. Ind. Mark."},{"key":"ref_28","doi-asserted-by":"crossref","unstructured":"Li, X., Li, K., and Zhou, H. (2022). Impact of Inventor\u2019s Cooperation Network on Ambidextrous Innovation in Chinese AI Enterprises. Sustainability, 14.","DOI":"10.3390\/su14169996"},{"key":"ref_29","doi-asserted-by":"crossref","first-page":"456","DOI":"10.1016\/j.jbusres.2022.05.003","article-title":"Sustainability through digital transformation: A systematic literature review for research guidance","volume":"148","author":"Guandalini","year":"2022","journal-title":"J. Bus. Res."},{"key":"ref_30","doi-asserted-by":"crossref","first-page":"108058","DOI":"10.1016\/j.cie.2022.108058","article-title":"Big data driven innovation for sustaining SME supply chain operation in post COVID-19 scenario: Moderating role of SME technology leadership","volume":"168","author":"Chatterjee","year":"2022","journal-title":"Comput. Ind. Eng."},{"key":"ref_31","doi-asserted-by":"crossref","first-page":"113546","DOI":"10.1016\/j.jbusres.2022.113546","article-title":"Is digital transformation threatened? A systematic literature review of the factors influencing firms\u2019 digital transformation and internationalization","volume":"157","author":"Ameen","year":"2023","journal-title":"J. Bus. Res."},{"key":"ref_32","doi-asserted-by":"crossref","first-page":"629","DOI":"10.1007\/s12525-021-00464-5","article-title":"Digital transformation as an interaction-driven perspective between business, society, and technology","volume":"32","author":"Vanthienen","year":"2022","journal-title":"Electron. Mark."},{"key":"ref_33","doi-asserted-by":"crossref","unstructured":"Sergei, T., Arkady, T., Natalya, L., Pathak, R., Samson, D., Husain, Z., and Sushil, S. (2023). Digital transformation enablers in high-tech and low-tech companies: A comparative analysis. Aust. J. Manag., 03128962231157102.","DOI":"10.1177\/03128962231157102"},{"key":"ref_34","doi-asserted-by":"crossref","first-page":"311","DOI":"10.1287\/isre.2021.1056","article-title":"The Digital Undertow: How the Corollary Effects of Digital Transformation Affect Industry Standards","volume":"33","author":"Scott","year":"2022","journal-title":"Inf. Syst. Res."},{"key":"ref_35","doi-asserted-by":"crossref","first-page":"103773","DOI":"10.1016\/j.respol.2019.03.018","article-title":"The digital transformation of innovation and entrepreneurship: Progress, challenges and key themes","volume":"48","author":"Nambisan","year":"2019","journal-title":"Res. Policy"},{"key":"ref_36","doi-asserted-by":"crossref","first-page":"326","DOI":"10.1016\/j.lrp.2018.12.001","article-title":"Building dynamic capabilities for digital transformation: An ongoing process of strategic renewal","volume":"52","author":"Warner","year":"2019","journal-title":"Long Range Plan."},{"key":"ref_37","doi-asserted-by":"crossref","first-page":"100053","DOI":"10.1016\/j.digbus.2023.100053","article-title":"Managerial capabilities as facilitators of digital transformation? Dynamic managerial capabilities as antecedents to digital business model transformation and firm performance","volume":"3","author":"Heubeck","year":"2023","journal-title":"Digit. Bus."},{"key":"ref_38","first-page":"99","article-title":"Firm Resources and Sustained Competitive Advantage","volume":"17","author":"Barney","year":"1991","journal-title":"J. Manag."},{"key":"ref_39","doi-asserted-by":"crossref","first-page":"122","DOI":"10.1016\/j.eap.2023.03.004","article-title":"Digital transformation, diversification and stability: What do we know about banks?","volume":"78","author":"Khattak","year":"2023","journal-title":"Econ. Anal. Policy"},{"key":"ref_40","doi-asserted-by":"crossref","unstructured":"Li, Z.-G., Wu, Y., and Li, Y.-K. (2023). Technical founders, digital transformation and corporate technological innovation: Empirical evidence from listed companies in China\u2019s STAR market. Int. Entrep. Manag. J.","DOI":"10.1007\/s11365-023-00852-7"},{"key":"ref_41","doi-asserted-by":"crossref","first-page":"1319","DOI":"10.1002\/smj.640","article-title":"Explicating dynamic capabilities: The nature and microfoundations of (sustainable) enterprise performance","volume":"28","author":"Teece","year":"2007","journal-title":"Strateg. Manag. J."},{"key":"ref_42","doi-asserted-by":"crossref","first-page":"3","DOI":"10.1257\/jel.20171452","article-title":"Digital Economics","volume":"57","author":"Goldfarb","year":"2019","journal-title":"J. Econ. Lit."},{"key":"ref_43","doi-asserted-by":"crossref","first-page":"1029","DOI":"10.1111\/etap.12254","article-title":"Digital Entrepreneurship: Toward a Digital Technology Perspective of Entrepreneurship","volume":"41","author":"Nambisan","year":"2017","journal-title":"Entrep. Theory Pract."},{"key":"ref_44","doi-asserted-by":"crossref","unstructured":"Chatterjee, S., and Mariani, M. (2022). Exploring the Influence of Exploitative and Explorative Digital Transformation on Organization Flexibility and Competitiveness. IEEE Trans. Eng. Manag., 1\u201311.","DOI":"10.1109\/TEM.2022.3220946"},{"key":"ref_45","doi-asserted-by":"crossref","unstructured":"Hajishirzi, R., Costa, C.J., and Aparicio, M. (2022). Boosting Sustainability through Digital Transformation\u2019s Domains and Resilience. Sustainability, 14.","DOI":"10.3390\/su14031822"},{"key":"ref_46","doi-asserted-by":"crossref","unstructured":"Siddik, A.B., Rahman, M.N., and Yong, L. (2023). Do fintech adoption and financial literacy improve corporate sustainability performance? The mediating role of access to finance. J. Clean. Prod., 137658. in press.","DOI":"10.1016\/j.jclepro.2023.137658"},{"key":"ref_47","doi-asserted-by":"crossref","first-page":"105220","DOI":"10.1016\/j.eneco.2021.105220","article-title":"Digitalization and energy: How does internet development affect China\u2019s energy consumption?","volume":"98","author":"Ren","year":"2021","journal-title":"Energy Econ."},{"key":"ref_48","doi-asserted-by":"crossref","first-page":"571","DOI":"10.1016\/j.eap.2022.03.014","article-title":"Does FinTech improve the investment efficiency of enterprises? Evidence from China\u2019s small and medium-sized enterprises","volume":"74","author":"Huang","year":"2022","journal-title":"Econ. Anal. Policy"},{"key":"ref_49","doi-asserted-by":"crossref","unstructured":"Pousttchi, K., Gleiss, A., Buzzi, B., and Kohlhagen, M. (2019, January 15\u201317). Technology Impact Types for Digital Transformation. Proceedings of the 2019 IEEE 21st Conference on Business Informatics (CBI), Moscow, Russia.","DOI":"10.1109\/CBI.2019.00063"},{"key":"ref_50","doi-asserted-by":"crossref","first-page":"4","DOI":"10.1111\/jpim.12562","article-title":"Digital Transformation and Innovation Management: A Synthesis of Existing Research and an Agenda for Future Studies","volume":"38","author":"Appio","year":"2021","journal-title":"J. Prod. Innov. Manag."},{"key":"ref_51","doi-asserted-by":"crossref","first-page":"101428","DOI":"10.1016\/j.aei.2021.101428","article-title":"Understanding digital transformation in advanced manufacturing and engineering: A bibliometric analysis, topic modeling and research trend discovery","volume":"50","author":"Lee","year":"2021","journal-title":"Adv. Eng. Inform."},{"key":"ref_52","doi-asserted-by":"crossref","first-page":"1363","DOI":"10.1108\/MD-02-2020-0233","article-title":"From CEO passion to exploratory and exploitative innovation: The moderating roles of market and technological turbulence","volume":"59","author":"Cai","year":"2021","journal-title":"Manag. Decis."},{"key":"ref_53","doi-asserted-by":"crossref","first-page":"137","DOI":"10.1016\/j.jbusres.2017.10.052","article-title":"The roles of absorptive capacity and cultural balance for exploratory and exploitative innovation in SMEs","volume":"94","author":"Limaj","year":"2019","journal-title":"J. Bus. Res."},{"key":"ref_54","doi-asserted-by":"crossref","first-page":"299","DOI":"10.1016\/j.jbusres.2020.11.058","article-title":"How to bridge the gap between innovation niches and exploratory and exploitative innovations in open innovation ecosystems","volume":"124","author":"Xie","year":"2021","journal-title":"J. Bus. Res."},{"key":"ref_55","doi-asserted-by":"crossref","first-page":"1356","DOI":"10.1108\/IJOPM-08-2021-0517","article-title":"Partners\u2019 knowledge utilization and exploratory innovation: The moderating effect of competitive and collaborative relationships","volume":"42","author":"Xiao","year":"2022","journal-title":"Int. J. Oper. Prod. Manag."},{"key":"ref_56","doi-asserted-by":"crossref","first-page":"1687","DOI":"10.1108\/JKM-04-2021-0292","article-title":"How do polychronicity and interfunctional coordination affect the relationship between exploratory innovation and the quality of new product development?","volume":"26","author":"Yi","year":"2021","journal-title":"J. Knowl. Manag."},{"key":"ref_57","doi-asserted-by":"crossref","unstructured":"Ji, J., and Yi, Y. (2022). How do TMT conflicts affect exploratory innovation? The moderating effects of team task reflexivity. Technol. Anal. Strateg. Manag., 1\u201314.","DOI":"10.1080\/09537325.2022.2060808"},{"key":"ref_58","doi-asserted-by":"crossref","first-page":"913","DOI":"10.1007\/s12063-022-00300-9","article-title":"The relationship between internal control and sustainable development of enterprises by mediating roles of exploratory innovation and exploitative innovation","volume":"15","author":"Liu","year":"2022","journal-title":"Oper. Manag. Res."},{"key":"ref_59","doi-asserted-by":"crossref","unstructured":"Qin, R. (Manag. Decis., 2023). Overcoming the digital transformation paradoxes: A digital affordance perspective, Manag. Decis., ahead of print.","DOI":"10.1108\/MD-05-2022-0576"},{"key":"ref_60","doi-asserted-by":"crossref","first-page":"666","DOI":"10.1080\/09537325.2019.1693534","article-title":"Knowledge structure, network structure, exploitative and exploratory innovations","volume":"32","author":"Zhang","year":"2020","journal-title":"Technol. Anal. Strateg. Manag."},{"key":"ref_61","doi-asserted-by":"crossref","first-page":"627","DOI":"10.1016\/j.ejor.2019.09.020","article-title":"Organizational vulnerability of digital threats: A first validation of an assessment method","volume":"282","author":"Scholz","year":"2020","journal-title":"Eur. J. Oper. Res."},{"key":"ref_62","doi-asserted-by":"crossref","first-page":"1745","DOI":"10.1007\/s11192-020-03586-3","article-title":"Obscure but important: Examining the indirect effects of alliance networks in exploratory and exploitative innovation paradigms","volume":"124","author":"Zhang","year":"2020","journal-title":"Scientometrics"},{"key":"ref_63","doi-asserted-by":"crossref","unstructured":"Zhang, J., Long, J., and von Schaewen, A.M.E. (2021). How Does Digital Transformation Improve Organizational Resilience?\u2014Findings from PLS-SEM and fsQCA. Sustainability, 13.","DOI":"10.3390\/su132011487"},{"key":"ref_64","doi-asserted-by":"crossref","first-page":"100332","DOI":"10.1016\/j.jik.2023.100332","article-title":"Digital transformation, risk-taking, and innovation: Evidence from data on listed enterprises in China","volume":"8","author":"Liu","year":"2023","journal-title":"J. Innov. Knowl."},{"key":"ref_65","doi-asserted-by":"crossref","first-page":"7","DOI":"10.2307\/3665251","article-title":"How Much Growth Can a Firm Afford?","volume":"6","author":"Higgins","year":"1977","journal-title":"Financ. Manag."},{"key":"ref_66","first-page":"2135553","article-title":"academic experience and firm sustainable growth","volume":"36","author":"Wang","year":"2022","journal-title":"Econ. Res. Ekon. Istraz."},{"key":"ref_67","doi-asserted-by":"crossref","first-page":"2543","DOI":"10.1111\/acfi.12873","article-title":"Can digital transformation improve the information environment of the capital market? Evidence from the analysts\u2019 prediction behaviour","volume":"62","author":"Chen","year":"2022","journal-title":"Account. Financ."},{"key":"ref_68","doi-asserted-by":"crossref","first-page":"120343","DOI":"10.1016\/j.techfore.2020.120343","article-title":"Impact of digital transformation on the automotive industry","volume":"162","author":"Rubio","year":"2021","journal-title":"Technol. Forecast. Soc. Chan."},{"key":"ref_69","doi-asserted-by":"crossref","first-page":"101368","DOI":"10.1016\/j.aei.2021.101368","article-title":"Unraveling the capabilities that enable digital transformation: A data-driven methodology and the case of artificial intelligence","volume":"50","author":"Wu","year":"2021","journal-title":"Adv. Eng. Inform."},{"key":"ref_70","doi-asserted-by":"crossref","first-page":"e16929","DOI":"10.1016\/j.heliyon.2023.e16929","article-title":"Advancement of cloud-based accounting effectiveness, decision-making quality, and firm performance through digital transformation and digital leadership: Empirical evidence from Vietnam","volume":"9","author":"Hung","year":"2023","journal-title":"Heliyon"},{"key":"ref_71","doi-asserted-by":"crossref","first-page":"960","DOI":"10.1108\/BPMJ-01-2022-0018","article-title":"Can the digital transformation of manufacturing enterprises promote enterprise innovation?","volume":"28","author":"Zhao","year":"2022","journal-title":"Bus. Process Manag. J."},{"key":"ref_72","doi-asserted-by":"crossref","first-page":"102888","DOI":"10.1016\/j.frl.2022.102888","article-title":"Does the digital transformation of enterprises affect stock price crash risk?","volume":"48","author":"Wu","year":"2022","journal-title":"Financ. Res. Lett."},{"key":"ref_73","doi-asserted-by":"crossref","first-page":"113868","DOI":"10.1016\/j.jbusres.2023.113868","article-title":"Does digital transformation improve the firm\u2019s performance? From the perspective of digitalization paradox and managerial myopia","volume":"163","author":"Guo","year":"2023","journal-title":"J. Bus. Res."},{"key":"ref_74","doi-asserted-by":"crossref","first-page":"105","DOI":"10.2308\/ajpt-18-016","article-title":"MD&A Textual Similarity and Auditors","volume":"39","author":"Li","year":"2020","journal-title":"Audit. J. Pract. Theory"},{"key":"ref_75","doi-asserted-by":"crossref","first-page":"5025","DOI":"10.1111\/acfi.12748","article-title":"MD&A readability, auditor characteristics, and audit fees","volume":"61","author":"Wang","year":"2021","journal-title":"Account. Financ."},{"key":"ref_76","doi-asserted-by":"crossref","first-page":"19","DOI":"10.4018\/JGIM.20210901.oa1","article-title":"Does the Technological Diversification and R&D Internationalization of eMNCs Promote Enterprise Innovation?: An Empirical Study on China\u2019s Publicly Listed Companies","volume":"29","author":"Li","year":"2021","journal-title":"J. Glob. Inf. Manag."},{"key":"ref_77","doi-asserted-by":"crossref","first-page":"453","DOI":"10.1016\/j.jbusres.2022.03.089","article-title":"Environmental information disclosure and corporate innovation: The \u201cInverted U-shaped\u201d regulating effect of media attention","volume":"146","author":"Luo","year":"2022","journal-title":"J. Bus. Res."},{"key":"ref_78","doi-asserted-by":"crossref","unstructured":"Zheng, S., and Jin, S. (2023). Can Enterprises in China Achieve Sustainable Development through Green Investment?. Int. J. Environ. Res. Public Health, 20.","DOI":"10.3390\/ijerph20031787"},{"key":"ref_79","doi-asserted-by":"crossref","unstructured":"Wu, L., and Jin, S. (2022). Corporate Social Responsibility and Sustainability: From a Corporate Governance Perspective. Sustainability, 14.","DOI":"10.3390\/su142215457"},{"key":"ref_80","doi-asserted-by":"crossref","first-page":"106060","DOI":"10.1016\/j.eneco.2022.106060","article-title":"Green energy transition and sustainable development of energy firms: An assessment of renewable energy policy","volume":"111","author":"Zhang","year":"2022","journal-title":"Energy Econ."},{"key":"ref_81","doi-asserted-by":"crossref","first-page":"118","DOI":"10.1016\/j.renene.2022.04.092","article-title":"Renewable energy policy, green investment, and sustainability of energy firms","volume":"192","author":"Zhang","year":"2022","journal-title":"Renew. Energy"},{"key":"ref_82","doi-asserted-by":"crossref","unstructured":"Zheng, S., and Jin, S. (2023). Can Companies Reduce Carbon Emission Intensity to Enhance Sustainability?. Systems, 11.","DOI":"10.3390\/systems11050249"},{"key":"ref_83","doi-asserted-by":"crossref","first-page":"103510","DOI":"10.1016\/j.frl.2022.103510","article-title":"Digital transformation and firm cost stickiness: Evidence from China","volume":"52","author":"Chen","year":"2023","journal-title":"Financ. Res. Lett."},{"key":"ref_84","first-page":"1137","article-title":"Digital transformation as a strategy to reach sustainability","volume":"11","year":"2021","journal-title":"Smart Sustain. Built Environ."},{"key":"ref_85","doi-asserted-by":"crossref","unstructured":"Zhou, J., and Jin, S. (2023). Corporate Environmental Protection Behavior and Sustainable Development: The Moderating Role of Green Investors and Green Executive Cognition. Int. J. Environ. Res. Public Health, 20.","DOI":"10.3390\/ijerph20054179"},{"key":"ref_86","doi-asserted-by":"crossref","unstructured":"Zhang, C., and Jin, S. (2022). What Drives Sustainable Development of Enterprises? Focusing on ESG Management and Green Technology Innovation. Sustainability, 14.","DOI":"10.3390\/su141811695"},{"key":"ref_87","doi-asserted-by":"crossref","first-page":"136954","DOI":"10.1016\/j.jclepro.2023.136954","article-title":"How does digital transformation drive green total factor productivity? Evidence from Chinese listed enterprises","volume":"406","author":"Wang","year":"2023","journal-title":"J. Clean. Prod."},{"key":"ref_88","doi-asserted-by":"crossref","unstructured":"Feng, H., Wang, F., Song, G., and Liu, L. (2022). Digital Transformation on Enterprise Green Innovation: Effect and Transmission Mechanism. Int. J. Environ. Res. Public Health, 19.","DOI":"10.3390\/ijerph191710614"},{"key":"ref_89","doi-asserted-by":"crossref","first-page":"113793","DOI":"10.1016\/j.jbusres.2023.113793","article-title":"Corporate digital transformation and trade credit financing","volume":"160","author":"Zhou","year":"2023","journal-title":"J. Bus. Res."},{"key":"ref_90","doi-asserted-by":"crossref","unstructured":"Ji, Z., Zhou, T., and Zhang, Q. (2023). The Impact of Digital Transformation on Corporate Sustainability: Evidence from Listed Companies in China. Sustainability, 15.","DOI":"10.3390\/su15032117"},{"key":"ref_91","doi-asserted-by":"crossref","first-page":"100198","DOI":"10.1016\/j.jik.2022.100198","article-title":"Can digital transformation promote enterprise performance? \u2014From the perspective of public policy and innovation","volume":"7","author":"Peng","year":"2022","journal-title":"J. Innov. Knowl."},{"key":"ref_92","doi-asserted-by":"crossref","first-page":"e13916","DOI":"10.1016\/j.heliyon.2023.e13916","article-title":"The impact of digital transformation on innovation performance\u2014The mediating role of innovation factors","volume":"9","author":"Chen","year":"2023","journal-title":"Heliyon"},{"key":"ref_93","doi-asserted-by":"crossref","unstructured":"Guo, X., and Chen, X. (2023). The Impact of Digital Transformation on Manufacturing-Enterprise Innovation: Empirical Evidence from China. Sustainability, 15.","DOI":"10.3390\/su15043124"},{"key":"ref_94","doi-asserted-by":"crossref","first-page":"274","DOI":"10.1108\/IJOPM-09-2021-0616","article-title":"Digital orientation, digital maturity, and digital intensity: Determinants of financial success in digital transformation settings","volume":"42","author":"Nasiri","year":"2022","journal-title":"Int. J. Oper. Prod. Manag."},{"key":"ref_95","doi-asserted-by":"crossref","first-page":"113478","DOI":"10.1016\/j.jbusres.2022.113478","article-title":"Independent and joint effects of CSR and CSI on the effectiveness of digital transformation for transition economy firms","volume":"156","author":"Zhong","year":"2023","journal-title":"J. Bus. Res."},{"key":"ref_96","doi-asserted-by":"crossref","first-page":"102028","DOI":"10.1016\/j.ijinfomgt.2019.10.013","article-title":"Examining the impact of Cloud ERP on sustainable performance: A dynamic capability view","volume":"51","author":"Gupta","year":"2020","journal-title":"Int. J. Inf. Manag."},{"key":"ref_97","doi-asserted-by":"crossref","first-page":"102170","DOI":"10.1016\/j.tre.2020.102170","article-title":"Big Data Analytics as a mediator in Lean, Agile, Resilient, and Green (LARG) practices effects on sustainable supply chains","volume":"145","author":"Raut","year":"2021","journal-title":"Transp. Res. Part E Logist. Transp. Rev."},{"key":"ref_98","doi-asserted-by":"crossref","first-page":"4001","DOI":"10.1002\/bse.2853","article-title":"Industry 4.0 and circular economy practices: A new era business strategies for environmental sustainability","volume":"30","author":"Khan","year":"2021","journal-title":"Bus. Strategy Environ."},{"key":"ref_99","doi-asserted-by":"crossref","first-page":"136278","DOI":"10.1016\/j.jclepro.2023.136278","article-title":"Impacts of digital transformation on eco-innovation and sustainable performance: Evidence from Chinese manufacturing companies","volume":"393","author":"Xu","year":"2023","journal-title":"J. Clean. Prod."},{"key":"ref_100","doi-asserted-by":"crossref","first-page":"1","DOI":"10.1016\/j.iref.2023.02.019","article-title":"Does enterprise digital transformation contribute to the carbon emission reduction? Micro-level evidence from China","volume":"86","author":"Shang","year":"2023","journal-title":"Int. Rev. Econ. Financ."},{"key":"ref_101","doi-asserted-by":"crossref","first-page":"488","DOI":"10.1016\/j.iref.2023.02.007","article-title":"The effect of digital transformation on real economy enterprises\u2019 total factor productivity","volume":"85","author":"Cheng","year":"2023","journal-title":"Int. Rev. Econ. Financ."},{"key":"ref_102","doi-asserted-by":"crossref","first-page":"2159","DOI":"10.1002\/mde.3809","article-title":"Digital transformation and corporate innovation: A factor input perspective","volume":"44","author":"Liu","year":"2023","journal-title":"Manag. Decis. Econ."}],"container-title":["Systems"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/www.mdpi.com\/2079-8954\/11\/7\/344\/pdf","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2025,10,10]],"date-time":"2025-10-10T20:06:24Z","timestamp":1760126784000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.mdpi.com\/2079-8954\/11\/7\/344"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2023,7,5]]},"references-count":102,"journal-issue":{"issue":"7","published-online":{"date-parts":[[2023,7]]}},"alternative-id":["systems11070344"],"URL":"https:\/\/doi.org\/10.3390\/systems11070344","relation":{},"ISSN":["2079-8954"],"issn-type":[{"value":"2079-8954","type":"electronic"}],"subject":[],"published":{"date-parts":[[2023,7,5]]}}}