CEOs' digital technology backgrounds and enterprise digital transformation: The mediating effect of R&D investment and corporate social responsibility

Abstract

AbstractEnterprise digital transformation (EDT) is becoming an essential strategy for business growth owing to the rapid iterative invention of digital technologies. Based on imprinting theory, we examined the effects of chief executive officers' (CEOs') digital technology backgrounds (DTBs) on EDT using data on Chinese listed companies from 2010 to 2020. We found that (1) CEOs with digital technology‐related learning or career experience can drive EDT to a higher degree. (2) Research and development (R&D) investment and corporate social responsibility (CSR) are significant variables that influence the digital transformation of CEOs' digital technology. Both partially mediate CEOs' DTBs, driving digital transformation by increasing R&D investment and enhancing CSR. (3) CEOs' DTBs significantly promote digital transformation in state‐owned, high‐tech, and digital economy enterprises. By promoting digital transformation, CEOs' DTBs substantially increased their sustainable development.