The Impact of Digital Transformation on Ambidextrous Innovation: The Moderating Role of ESG
Research Article
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The Impact of Digital Transformation on Ambidextrous Innovation: The Moderating Role of ESG

Qianrui Lin 1*
1 Ningbo University
*Corresponding author: 1298105093@qq.com
Published on 11 November 2025
Journal Cover
AEMPS Vol.239
ISSN (Print): 2754-1177
ISSN (Online): 2754-1169
ISBN (Print): 978-1-80590-525-7
ISBN (Online): 978-1-80590-526-4
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Abstract

Based on the sample of Chinas Shanghai and Shenzhen A-share listed companies from 2010 to 2023, this study employs multiple regression analysis to explore the impact and mechanism of corporate digital transformation on dual innovation, with a focus on analyzing the moderating effect of corporate ESG performance. The research findings indicate that digital transformation has a significant positive promoting effect on dual innovation (including exploratory innovation and exploitative innovation), and corporate ESG performance positively moderates this relationship. Specifically, companies with superior ESG performance demonstrate stronger empowerment effects of digital transformation on dual innovation. Heterogeneity analysis reveals that this positive effect is more pronounced in state-owned enterprises, companies listed on the main boards (Shanghai and Shenzhen Stock Exchanges), and larger firms.

Keywords:

digital transformation, dual innovation, exploitative innovation, exploratory innovation, ESG performance

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Lin,Q. (2025). The Impact of Digital Transformation on Ambidextrous Innovation: The Moderating Role of ESG. Advances in Economics, Management and Political Sciences,239,65-75.

References

[1]. Zhao, X. , Xu, S. , Jiang, T. Zhao, X. , Xu, S. , Jiang, T. et al. Digital economys impact on green innovation efficiency: bottom-up or top-down?. Clean Techn Environ Policy 27, 367–388 (2025). https: //doi. org/10. 1007/s10098-024-02753-x

[2]. Xie Tingting, Li Xiaoqin. Credit Information Sharing and Corporate ESG Performance in the Era of Digital Empowerment [J/OL]. Statistical and Information Forum, 1-15 [2025-08-06]. https: //doi. org/10. 20207/j. cnki. 1007-3116. 20250804. 004.

[3]. Qi Yong, Fan Century. How Does Enterprise Digital Transformation Impact Innovation Efficiency— A Configuration Analysis Based on the Tendency-Ability Perspective [J/OL]. Accounting Monthly, 1-7 [2025-08-06]. https: //link. cnki. net/urlid/42. 1290. F. 20250801. 1322. 036.

[4]. Zhang Shumin, Zhong Weijun, Mei Shue. "Intergenerational Knowledge Bridge" and the Relationship Between Dual Innovation Capability and New Technology Innovation Performance— Based on Empirical Evidence from Established Automotive Enterprises [J]. Science of Science and Science and Technology Management, 2025, 46(07): 146-163. DOI: 10. 20201/j. cnki. ssstm. 2025. 07. 003.

[5]. Liu Pingfeng, Dong Yijun. Research on the Mechanism of Big Data Empowering Dual Innovation in Manufacturing Enterprises [J]. Accounting Monthly, 2025, 46(13): 92-98. DOI: 10. 19641/j. cnki. 42-1290/f. 2025. 13. 015.

[6]. Li Yuan and Wang Hongju. The Intrinsic Mechanism and Policy Implications of Government Innovation Incentives in Promoting New Quality Productivity Development [J]. Techno-Economic and Management Research, 2025(06): 23-31.

[7]. Zhang Jingyu, Gao Wei, Zheng Yuming, et al. Research on the Evaluation and Enhancement Strategies for the Benefits of Digital Transformation in Power Grid Enterprises— Analysis Based on a Combined Model [J]. Price Theory and Practice, 2025, (04): 106-112+237. DOI: 10. 19851/j. cnki. CN11-1010/F. 2025. 04. 080.

[8]. Du Chuanzhong and Xue Yuzhe. Digital Transformation, Open Innovation Effectiveness, and Breakthroughs in Core Corporate Technologies [J]. Southern Economics, 2024, (11): 113-138. DOI: 10. 19592/j. cnki. scje. 420025.

[9]. Wu Yong, Li Yani, Pei Baoquan, et al. Reflections on the Digital Transformation of the Accounting Industry: From the Perspective of Digital Auditors [J]. China Certified Public Accountant, 2024, (11): 31-41. DOI: 10. 16292/j. cnki. issn1009-6345. 2024. 11. 015.

[10]. Dong Cong, Dong Xiucheng, Jiang Qingzhe, et al. The Impact and Mechanism of ESG Rating Disagreements on Green Innovation in Listed Companies [J]. China Population·Resources & Environment, 2024, 34(08): 103-113.

[11]. Xu Ke and Tang Jialong. Does the dual-system framework with entrepreneurial orientation effectively motivate innovation performance? — Intermediary and Network Balance Regulation in Organizational Learning [J]. Science of Science and Technology Management, 2024, 45(01): 125-149.

[12]. He Jinhua, Deng Yan, Xu Chunxiao. Research on the Impact of Digital Transformation on the Sustainable Development Performance of Listed Tourism Enterprises in China [J/OL]. Tourism Science, 1-15 [2025-08-14]. https: //doi. org/10. 16323/j. cnki. lykx. 20250812. 001.

[13]. Yang Dandan, Wu Xiaojie, Wang Xiuqiong, et al. Path Selection and Paradox Identification in Enterprise Digital Transformation: A Qualitative Meta-Analysis [J/OL]. Research and Development Management, 1-15 [2025-08-14]. https: //doi. org/10. 13581/j. cnki. rdm. 20241596.

[14]. Qi Yong, Fan Century. How Does Enterprise Digital Transformation Impact Innovation Efficiency— A Configuration Analysis Based on the Tendency-Ability Perspective [J]. Accounting Monthly, 2025, 46(15): 25-31. DOI: 10. 19641/j. cnki. 42-1290/f. 2025. 15. 004.

[15]. Qi Liwei. The Impact of Human Capital on the Operating Performance of E-commerce Enterprises— and Discussion on the Moderating and Threshold Effects of Digital Technology [J]. Journal of Business Economics, 2025(14): 155-158.

[16]. Ding Yifan and Cao Huiping. Research on the Impact of Enterprise Digital Transformation on Customer Relationship Stability [J]. Journal of Management, 2025, 22(06): 1132-1141+1151.

[17]. Fang Wenlong, Nie Wanni, and Lai Dan. Enterprise Digital Transformation, Resource Allocation, and Green Innovation Capabilities [J]. Accounting Monthly, 2023, 44(13): 139-145. DOI: 10. 19641/j. cnki. 42-1290/f. 2023. 13. 019.

[18]. Wu Lixia. ESG Performance, Dual Innovation, and High-Quality Corporate Development [J]. Accounting & Finance Communications, 2023, (20): 33-39. DOI: 10. 16144/j. cnki. issn1002-8072. 2023. 20. 010.

References

[1]. Zhao, X. , Xu, S. , Jiang, T. Zhao, X. , Xu, S. , Jiang, T. et al. Digital economys impact on green innovation efficiency: bottom-up or top-down?. Clean Techn Environ Policy 27, 367–388 (2025). https: //doi. org/10. 1007/s10098-024-02753-x

[2]. Xie Tingting, Li Xiaoqin. Credit Information Sharing and Corporate ESG Performance in the Era of Digital Empowerment [J/OL]. Statistical and Information Forum, 1-15 [2025-08-06]. https: //doi. org/10. 20207/j. cnki. 1007-3116. 20250804. 004.

[3]. Qi Yong, Fan Century. How Does Enterprise Digital Transformation Impact Innovation Efficiency— A Configuration Analysis Based on the Tendency-Ability Perspective [J/OL]. Accounting Monthly, 1-7 [2025-08-06]. https: //link. cnki. net/urlid/42. 1290. F. 20250801. 1322. 036.

[4]. Zhang Shumin, Zhong Weijun, Mei Shue. "Intergenerational Knowledge Bridge" and the Relationship Between Dual Innovation Capability and New Technology Innovation Performance— Based on Empirical Evidence from Established Automotive Enterprises [J]. Science of Science and Science and Technology Management, 2025, 46(07): 146-163. DOI: 10. 20201/j. cnki. ssstm. 2025. 07. 003.

[5]. Liu Pingfeng, Dong Yijun. Research on the Mechanism of Big Data Empowering Dual Innovation in Manufacturing Enterprises [J]. Accounting Monthly, 2025, 46(13): 92-98. DOI: 10. 19641/j. cnki. 42-1290/f. 2025. 13. 015.

[6]. Li Yuan and Wang Hongju. The Intrinsic Mechanism and Policy Implications of Government Innovation Incentives in Promoting New Quality Productivity Development [J]. Techno-Economic and Management Research, 2025(06): 23-31.

[7]. Zhang Jingyu, Gao Wei, Zheng Yuming, et al. Research on the Evaluation and Enhancement Strategies for the Benefits of Digital Transformation in Power Grid Enterprises— Analysis Based on a Combined Model [J]. Price Theory and Practice, 2025, (04): 106-112+237. DOI: 10. 19851/j. cnki. CN11-1010/F. 2025. 04. 080.

[8]. Du Chuanzhong and Xue Yuzhe. Digital Transformation, Open Innovation Effectiveness, and Breakthroughs in Core Corporate Technologies [J]. Southern Economics, 2024, (11): 113-138. DOI: 10. 19592/j. cnki. scje. 420025.

[9]. Wu Yong, Li Yani, Pei Baoquan, et al. Reflections on the Digital Transformation of the Accounting Industry: From the Perspective of Digital Auditors [J]. China Certified Public Accountant, 2024, (11): 31-41. DOI: 10. 16292/j. cnki. issn1009-6345. 2024. 11. 015.

[10]. Dong Cong, Dong Xiucheng, Jiang Qingzhe, et al. The Impact and Mechanism of ESG Rating Disagreements on Green Innovation in Listed Companies [J]. China Population·Resources & Environment, 2024, 34(08): 103-113.

[11]. Xu Ke and Tang Jialong. Does the dual-system framework with entrepreneurial orientation effectively motivate innovation performance? — Intermediary and Network Balance Regulation in Organizational Learning [J]. Science of Science and Technology Management, 2024, 45(01): 125-149.

[12]. He Jinhua, Deng Yan, Xu Chunxiao. Research on the Impact of Digital Transformation on the Sustainable Development Performance of Listed Tourism Enterprises in China [J/OL]. Tourism Science, 1-15 [2025-08-14]. https: //doi. org/10. 16323/j. cnki. lykx. 20250812. 001.

[13]. Yang Dandan, Wu Xiaojie, Wang Xiuqiong, et al. Path Selection and Paradox Identification in Enterprise Digital Transformation: A Qualitative Meta-Analysis [J/OL]. Research and Development Management, 1-15 [2025-08-14]. https: //doi. org/10. 13581/j. cnki. rdm. 20241596.

[14]. Qi Yong, Fan Century. How Does Enterprise Digital Transformation Impact Innovation Efficiency— A Configuration Analysis Based on the Tendency-Ability Perspective [J]. Accounting Monthly, 2025, 46(15): 25-31. DOI: 10. 19641/j. cnki. 42-1290/f. 2025. 15. 004.

[15]. Qi Liwei. The Impact of Human Capital on the Operating Performance of E-commerce Enterprises— and Discussion on the Moderating and Threshold Effects of Digital Technology [J]. Journal of Business Economics, 2025(14): 155-158.

[16]. Ding Yifan and Cao Huiping. Research on the Impact of Enterprise Digital Transformation on Customer Relationship Stability [J]. Journal of Management, 2025, 22(06): 1132-1141+1151.

[17]. Fang Wenlong, Nie Wanni, and Lai Dan. Enterprise Digital Transformation, Resource Allocation, and Green Innovation Capabilities [J]. Accounting Monthly, 2023, 44(13): 139-145. DOI: 10. 19641/j. cnki. 42-1290/f. 2023. 13. 019.

[18]. Wu Lixia. ESG Performance, Dual Innovation, and High-Quality Corporate Development [J]. Accounting & Finance Communications, 2023, (20): 33-39. DOI: 10. 16144/j. cnki. issn1002-8072. 2023. 20. 010.

Cite this article

Lin,Q. (2025). The Impact of Digital Transformation on Ambidextrous Innovation: The Moderating Role of ESG. Advances in Economics, Management and Political Sciences,239,65-75.

Data availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

About volume

Volume title: Proceedings of ICFTBA 2025 Symposium: Data-Driven Decision Making in Business and Economics

ISBN: 978-1-80590-525-7(Print) / 978-1-80590-526-4(Online)
Editor: Lukášak Varti
Conference website: https://2025.icftba.org/Bratislava.html
Conference date: 12 December 2025
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.239
ISSN: 2754-1169(Print) / 2754-1177(Online)

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