With the wide application of digital technologies such as big data, cloud computing and 5G technology, the digital transformation of enterprises provides new ways for enterprises to enhance green innovation and achieve sustainable development. Starting from the resource-based view and combining signaling theory and stakeholder theory, this article empirically analyzes the impact of enterprise digitalization level on green innovation by examining the effect of enterprise digitalization level on green innovation and the inner transmission mechanism. The results show that (1) the digitalization level of enterprises can promote the improvement of green innovation, and this is not affected by the nature of property rights and the region of enterprises; (2) there is a partial mediating effect of government subsidies in the relationship between the digitalization level of enterprises and green innovation, and enterprises can obtain more innovation resources and thus promote green innovation through the improvement of digitalization level, and this effect is stronger in enterprises in eastern regions than in other regions; (3) The relationship between digitalization level and green innovation is positively affected by the fulfillment of corporate social responsibility, and the promotion effect of digitalization level on green innovation is strengthened as the degree of fulfillment of corporate social responsibility increases. This article reveals the ways in which digitalization level influences enterprise green innovation, which further enriches the theoretical study of enterprise green innovation. The article provides policy suggestions for the government to improve the level of corporate green innovation and achieve the dual carbon goal; it also provides references for enterprises to build a multi-level influence mechanism to promote the improvement of the green innovation level based on the stakeholder theory.
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