Research on the Impact of Supply Chain Digitalization on Corporate Green Innovation: An Analysis of Chain-Based Multiple Mediating Effects Based on Information Transparency and ESG Performance

Against the backdrop of the dual-carbon goals and the Digital China initiative, the urgent need for enterprises to pursue green innovation and transformation is evident. Supply chain digitalization serves as a critical enabler for enterprises to achieve a low-carbon industrial transformation and high-quality development through the effective coordination of data resources across the entire chain. This study examines A-share listed companies from 2012 to 2023, leveraging the 2018 Supply Chain Innovation and Application Pilot Policy to construct a quasi-natural experiment. Employing a difference-in-differences approach with multiple mediation effects, it investigates the impact of supply chain digitalization on corporate green innovation and its transmission mechanisms. Findings reveal that supply chain digitalization significantly enhances corporate green innovation levels, with this effect being more pronounced in substantive innovation, western regions, and firms with high customer concentration. Mechanism tests reveal that supply chain digitalization promotes green innovation not only through independent pathways of enhancing information transparency and improving ESG performance but also via a chained mediation effect: “supply chain digitalization → information transparency → ESG performance → green innovation”. This study enriches theoretical research on the relationship between supply chain digitalization and green innovation from the dual perspectives of information and governance, offering insights for government initiatives to advance data sharing, implement differentiated policies, and establish green governance systems.