Innovations and Innovativeness

Abstract

We analyzed innovativeness of 203 HSE University's students based on Schweizer’s (2006) novelty generation model. We revealed 2 types of students based on Kirton's classification - adaptors and innovators, and found that innovators are more tend to like and to do extreme sports, adaptors often have high grades at University. Based on these results we collected data about Russian CEOs' preferences in sport and education received. We aimed to analyze CEO's propensity to innovate impact on firms' financial and innovation performance in Russia.

Abstract

Abstract

In the current economic landscape, businesses are challenged by the dual imperatives of digital transformation and sustainability goals. While digital transformation is often heralded as a catalyst for innovation, its potential adverse effects on green innovation remain underexplored. This study bridges this gap by analyzing 1,443 companies listed on the Shanghai Stock Exchange,  main board from 2013 to 2022, focusing on the mechanisms through which digital transformation impacts green innovation and the moderating role of Environmental, Social, and Governance (ESG) performance. Our results reveal that digital transformation hinders green innovation by exacerbating financing constraints.

However, good ESG performance mitigates these negative impacts by alleviating financing constraints, thereby fostering green innovation. Our findings hold through endogeneity tests by applying instrumental variable methods. Notably, the effect of digital transformation and ESG differs significantly between state-owned enterprises (SOEs) and non-state-owned enterprises (non-SOEs). 

While non-SOEs experience more pronounced challenges, ESG also demonstrates a stronger moderating role, unlike in SOEs, where institutional advantages offset some of these constraints. These findings enhance the understanding of dual transformation challenges, offering practical implications for aligning digital and green strategies in diverse organizational contexts. 

Keywords: Digital Transformation; Green Innovation; ESG; Financing Constraints; Moderating

Effects; Moderated Mediation Effects

JEL Classification G32; G34; M14