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Digital Transformation and Innovation for a Sustainable Future

A special issue of Sustainability (ISSN 2071-1050). This special issue belongs to the section "Economic and Business Aspects of Sustainability".

Deadline for manuscript submissions: 10 January 2025 | Viewed by 11943

Special Issue Editors

School of International Studies, Hanyang University, Seoul 04763, Republic of Korea
Interests: environmental sustainability; green management; global strategy; knowledge and innovation; business ethics
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Guest Editor
International Business, Chungbuk National University, Cheongju, Republic of Korea
Interests: business strategy; global business case; global strategic management
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Guest Editor
Division of Business Administration & Accounting, Kangwon National University, Chuncheon, Republic of Korea
Interests: digital transformation; knowledge transfer and creation in mNes; emerging market global companies; algorithm-based measurement of ESG
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Guest Editor
Department of Global Business, Mokwon University, Daejeon, Republic of Korea
Interests: ESG; sustainable management; ecosystem strategy; digitalization capability and strategy
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Special Issue Information

Dear Colleagues,

The proliferation of digitization has given rise to a myriad of products, services, and business model innovations, fundamentally transforming how firms pursue sustainability (Björkdahl, 2020; Mostaghel, Oghazi, Parida, & Sohrabpour, 2022). This digitalization revolution is not merely a passing trend but rather a transformative force with far-reaching implications for economic, social, and environmental sustainability (Lee & Roh, 2023b). As these innovations continue to permeate all facets of the business landscape, urgent research is required to delve into the driving factors behind digitalization-induced innovation and its consequent impact on sustainability (Lee & Roh, 2023a). This Special Issue aims to enhance the academic understanding of the interconnections among digitization, innovation, and sustainability by exploring pertinent case studies and offering theoretically grounded and empirically supported recommendations to bolster implementation and effectiveness. We hereby invite submissions from a diverse array of academic disciplines that share a common interest in advancing our knowledge of digital innovations and their implications for sustainability, encompassing strategic management, innovation and organization, business ethics, entrepreneurship, information systems, and beyond. Potential contributions may include, but are not limited to, the following topics:

  • Digitalization as a strategic action;
  • Sustainable growth through digitalization;
  • Digitalization-driven product and service innovation;
  • Sustainable business models in the digital era;
  • Digital-enabled innovation management for sustainability;
  • Digital innovation processes and sustainable practices;
  • Digital transformation and sustainable value creation;
  • Leveraging digitalization for sustainable competitive advantage;
  • Environmental and social impact of digitalization;
  • Integrating sustainability into digitalization strategies.

We look forward to receiving your contributions.

Dr. Taewoo Roh
Dr. Jinsup Jung
Dr. Oh Suk Yang
Dr. Min-jae Lee
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Sustainability is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • digitization
  • digital transformation
  • digital innovation
  • digital innovation processes
  • digital sustainability

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Published Papers (10 papers)

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Research

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32 pages, 1060 KiB  
Article
Global Companies’ Dynamic Response to Business Environment Uncertainty through Digital Transformation: Sustainable Digital Quality–Customer Value–Market Performance Relationships
by Chang-Geun Kim and Oh-Suk Yang
Sustainability 2024, 16(15), 6541; https://doi.org/10.3390/su16156541 - 31 Jul 2024
Viewed by 556
Abstract
This study examines the relationship between digital transformation and both the corporate image and brand awareness of global companies through the mediating effects of functional value, symbolic value, experiential value, emotional value, and social value, all of which are components of customer value. [...] Read more.
This study examines the relationship between digital transformation and both the corporate image and brand awareness of global companies through the mediating effects of functional value, symbolic value, experiential value, emotional value, and social value, all of which are components of customer value. This study mainly focuses on the structural relationship in which digital quality, which is subdivided into system quality, information quality, and service quality, affects non-financial corporate image as a company with good corporate governance, a company that is good at social contribution activities, and an eco-friendly company through the mediating function of customer value. As part of the empirical analysis, an online survey was conducted among 504 employees from different global companies in China, and the PLS structural equation model was employed as a specific analysis tool. Key findings indicate that changes in system quality, information quality, and service quality resulting from digital transformation have varying influences on the five components of customer value. These factors also deliver the effect of improving corporate image in the ESG dimension by penetrating customers’ emotional and social values. Essentially, all components of dynamic capability significantly impact all components of customer value. Furthermore, all components of customer value influence corporate performance, while uncertainty affects a company’s market performance. Full article
(This article belongs to the Special Issue Digital Transformation and Innovation for a Sustainable Future)
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20 pages, 587 KiB  
Article
Executive Social Connection, Regional Digital Economy Development, and Enterprise Digital Transformation
by Jie Liang and Mengfan Wang
Sustainability 2024, 16(15), 6445; https://doi.org/10.3390/su16156445 - 27 Jul 2024
Viewed by 764
Abstract
Aiming at the research limitation concerning the insufficient exploration of executive social connections in enterprise digital transformation, our research objective is to investigate the influence of executive social connections, namely political and business connections, on enterprise digital transformation. Furthermore, it assesses the moderating [...] Read more.
Aiming at the research limitation concerning the insufficient exploration of executive social connections in enterprise digital transformation, our research objective is to investigate the influence of executive social connections, namely political and business connections, on enterprise digital transformation. Furthermore, it assesses the moderating effects of regional digital economy development on these relationships. An empirical analysis, encompassing 5407 observations from 868 listed firms between 2012 and 2021 in China, demonstrates that executive political and business connections significantly contribute to enterprise digital transformation both individually and synergistically. Specifically, political connections are found to be more relevant to enhancing enterprise digital transformation in regions with higher levels of digital economy development, while business connections exhibit a stronger correlation in regions with lower levels of digital economy development. Additionally, it is revealed that the synergistic effect of political and business connections is more relevant to enterprise digital transformation in regions with lower levels of digital economy development. Full article
(This article belongs to the Special Issue Digital Transformation and Innovation for a Sustainable Future)
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19 pages, 592 KiB  
Article
The Impact of Digital Trade Barriers on Technological Innovation Efficiency and Sustainable Development
by Modan Yan and Haiyun Liu
Sustainability 2024, 16(12), 5169; https://doi.org/10.3390/su16125169 - 18 Jun 2024
Viewed by 984
Abstract
The global digitization trend provides a favorable development environment for the efficient acquisition of knowledge and technology. However, restrictions imposed by countries on digital trade have hindered this trend. This study is based on 60 sample countries to study the impact of the [...] Read more.
The global digitization trend provides a favorable development environment for the efficient acquisition of knowledge and technology. However, restrictions imposed by countries on digital trade have hindered this trend. This study is based on 60 sample countries to study the impact of the digital trade barrier (DTB) on the technology innovation efficiency (TIE) of each country and the pathways from 2014 to 2020. Research finds that DTB significantly inhibits TIE. Among the five different policy fields that form DTB, Infrastructure and Connecting DTB and Other DTB have the greatest negative impact on TIE. A mechanism analysis found that DTB increases the difficulty of acquiring knowledge spillover and the high cost of research and development, leading to the mismatch and low efficiency of innovation resources, ultimately leading to a reduction in technological innovation efficiency in various countries. Participating in international technological innovation networks and improving technological innovation capabilities have a moderating effect on the aforementioned negative impacts that is beneficial for the sustainable development of national technological innovation. Heterogeneity tests indicate that countries with weaker innovation capabilities, low- and middle-income countries, and countries that have not joined the OECD have a more significant negative impact. This study serves as an important reference for the government to adjust digital trade policies and guide the effective use of external resources for sustainable and efficient technological innovation. Full article
(This article belongs to the Special Issue Digital Transformation and Innovation for a Sustainable Future)
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18 pages, 718 KiB  
Article
Assessing the Role of HRM and HRD in Enhancing Sustainable Job Performance and Innovative Work Behaviors through Digital Transformation in ICT Companies
by Yuanyuan Lou, Ahreum Hong and Yannan Li
Sustainability 2024, 16(12), 5162; https://doi.org/10.3390/su16125162 - 17 Jun 2024
Viewed by 748
Abstract
In the era of Industry 4.0, digital transformation has become a cornerstone for modern organizations, fundamentally altering how businesses operate and compete. This study delves into the impact of digital transformation on human resource management (HRM), human resource development (HRD), and employees’ innovative [...] Read more.
In the era of Industry 4.0, digital transformation has become a cornerstone for modern organizations, fundamentally altering how businesses operate and compete. This study delves into the impact of digital transformation on human resource management (HRM), human resource development (HRD), and employees’ innovative work behaviors and job performance in a rapidly evolving business environment. In conducting a survey among 391 employees from information and communication technology (ICT) companies in China, structural equation modeling was employed to analyze the data. The findings reveal a correlation between digital transformation and innovative work behaviors and job performance, with HRM and HRD playing partial mediating roles. Digital transformation not only optimizes work processes and enhances productivity but also fosters the innovation of business models and processes. Moreover, the research indicates the critical importance of implementing efficient digital systems and processes in promoting an organizational culture of innovation and enhancing employees’ innovative capabilities. Thus, digital transformation is seen as a pivotal strategic tool, altering not just the modus operandi of organizations but also influencing employee behavior and performance. Full article
(This article belongs to the Special Issue Digital Transformation and Innovation for a Sustainable Future)
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20 pages, 543 KiB  
Article
Green Business Model and Green Media Coverage for a Successful Initial Public Offering: Evidence from the Korean Firms
by Jungha Kim, Kyung Ryang Ko and Wonyong Choi
Sustainability 2024, 16(11), 4520; https://doi.org/10.3390/su16114520 - 26 May 2024
Viewed by 978
Abstract
With mounting concerns about sustainability, significant attention has been directed toward research within the green industry domain. However, existing literature on initial public offerings (IPOs) has overlooked a crucial distinction: investors do not perceive all firms operating in green industries equally. Firms with [...] Read more.
With mounting concerns about sustainability, significant attention has been directed toward research within the green industry domain. However, existing literature on initial public offerings (IPOs) has overlooked a crucial distinction: investors do not perceive all firms operating in green industries equally. Firms with green business models (GBMs) are more attractive to investors by providing positive signals of future growth potential and sustainability. To reveal this, the study investigates the relationship between GBMs and IPO success by Ordinary Least Squares (OLS) regression analysis. As the Asia-Pacific IPO market accounts for about 60% of IPO volume and value, with Korea actively participating in this global surge, the study used a sample of 150 firms that underwent IPOs between 2016 and 2019 on the Korea Securities Dealers Automated Quotations (KOSDAQ) market. We find evidence that firms with GBMs are more likely to achieve successful IPO outcomes, and GMC also plays a positive moderating role, enhancing the positive link between GBMs and IPO success. However, GMC alone had no significant effect. These findings imply that green signals positively contribute to a successful IPO and that each green signal can have different signaling effects, ultimately contributing to the field of sustainability through signaling theory. Full article
(This article belongs to the Special Issue Digital Transformation and Innovation for a Sustainable Future)
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22 pages, 628 KiB  
Article
Exploring the Impact of Digital Transformation on Manufacturing Environment, Social Responsibility, and Corporate Governance Performance: The Moderating Role of Top Management Teams
by Qin Yang and Shanyue Jin
Sustainability 2024, 16(11), 4342; https://doi.org/10.3390/su16114342 - 21 May 2024
Viewed by 1250
Abstract
In the digital economy era, digital transformation is crucial for competitiveness in traditional industries, particularly in manufacturing. This study aimed to examine how digital transformation impacts the manufacturing environment, social responsibility, and corporate governance (ESG), with a focus on the role of senior [...] Read more.
In the digital economy era, digital transformation is crucial for competitiveness in traditional industries, particularly in manufacturing. This study aimed to examine how digital transformation impacts the manufacturing environment, social responsibility, and corporate governance (ESG), with a focus on the role of senior executive teams. Using empirical analysis of Chinese A-share listed companies from 2010 to 2019, this study found that digital transformation promotes ESG performance in the manufacturing industry. The findings revealed that the educational level, CEO tenure, and professional background diversity of senior management teams moderate this relationship, enhancing ESG performance. This study enriches and expands the existing knowledge system on this topic by integrating theories related to the digital economy and resource-based theories. It provides methodological guidance for the manufacturing industry to improve its environmental, social, and governance performance and achieve rapid development. Additionally, it offers practical suggestions for the government, manufacturing enterprises, and senior executive teams on how to better play their performance in digital transformation and ESG governance. This will assist the manufacturing industry enhance its level of digital transformation and continuously improve its ESG management and governance. Full article
(This article belongs to the Special Issue Digital Transformation and Innovation for a Sustainable Future)
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15 pages, 736 KiB  
Article
The Moderating Effect of ESG Level in the Relationship between Digital Transformation Capability and Financial Performance: Evidence from Foreign Subsidiaries of Korean Firms
by Ga-Rog Han and Jae-Eun Lee
Sustainability 2024, 16(9), 3764; https://doi.org/10.3390/su16093764 - 30 Apr 2024
Cited by 1 | Viewed by 1352
Abstract
This study empirically analyzed the effect of digital transformation capability on the financial performance of foreign subsidiaries of Korean listed firms, focusing on the moderating effect of the ESG level. The results of an empirical analysis on data from 483 foreign subsidiaries of [...] Read more.
This study empirically analyzed the effect of digital transformation capability on the financial performance of foreign subsidiaries of Korean listed firms, focusing on the moderating effect of the ESG level. The results of an empirical analysis on data from 483 foreign subsidiaries of Korean listed firms collected through surveys from February to May 2021 are as follows. First, it was found that digital transformation capability had a positive effect on financial performance. Second, as a result of analyzing the moderating effect of the ESG level, it was found that the environmental (E) level and the social (S) level in ESG strengthened the positive relationship between digital transformation capability and financial performance. However, it was found that the level of governance (G) in ESG rather weakens the positive relationship between digital transformation capability and financial performance. The results of this study suggest that foreign subsidiaries need to actively build digital transformation capability in order to improve their financial performance. Since the results of this study suggest different moderating effects of ESG, practical implications can be suggested that foreign subsidiaries should consider the fact that different effects may occur for each ESG activity if they want to improve their financial performance through digital transformation capability. Full article
(This article belongs to the Special Issue Digital Transformation and Innovation for a Sustainable Future)
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20 pages, 784 KiB  
Article
How Could Digital Transformation Help Medium-Sized Enterprises Access Thailand’s New Capital Market Financing (LiVEx) to Support Sustainable Growth in the Digital Economy Era?
by Rhatsarun Tanapaisankit, Somboon Sirisunhirun, Somsak Amornsiriphong, Krish Rugchatjaroen and Phut Ploywan
Sustainability 2024, 16(8), 3470; https://doi.org/10.3390/su16083470 - 21 Apr 2024
Viewed by 1371
Abstract
In today’s modern era, digital transformation serves as a crucial element for organizations to gain a competitive edge and optimize their operating systems. However, medium-sized enterprises in Thailand face difficulties in accessing capital market financing, despite its significance in promoting the development of [...] Read more.
In today’s modern era, digital transformation serves as a crucial element for organizations to gain a competitive edge and optimize their operating systems. However, medium-sized enterprises in Thailand face difficulties in accessing capital market financing, despite its significance in promoting the development of small- and medium-sized enterprises according to the 13th National Economic and Social Development Plan. One potential solution to this issue is digital transformation, which can help these enterprises achieve their strategic business objectives and find a reliable source of funding while enhancing their reputation and credibility, thereby contributing to the growth of the economy as a whole. This study utilized a mixed-methods approach to explore how digital transformation can assist medium-sized enterprises in accessing LiVEx, a new capital market for Thai SMEs. We conducted extensive research and interviewed 12 senior executives across three groups, government agencies, LiVEx-listed companies, and social associations, to develop a questionnaire and conceptual model. Data collected from 360 individuals working in medium-sized enterprises in Thailand collected using an online questionnaire were then analyzed, using CFA and SEM techniques to validate the model. Our study emphasizes the importance of digital literacy, digital usage, and digital advocacy in the success of digital transformation in accessing Thai capital market financing. These findings serve as a valuable knowledge repository for future research. Full article
(This article belongs to the Special Issue Digital Transformation and Innovation for a Sustainable Future)
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16 pages, 266 KiB  
Article
How Does the Digital Economy Drive the Optimization and Upgrading of Industrial Structure? The Mediating Effect of Innovation and the Role of Economic Resilience
by Yicheng Song and Yuantao Jiang
Sustainability 2024, 16(4), 1352; https://doi.org/10.3390/su16041352 - 6 Feb 2024
Cited by 1 | Viewed by 1501
Abstract
The digital economy (DE) has become a major driving force behind the optimization and upgrading of industrial structures (ISOU), but research on its driving mechanisms has yet to be verified. To this end, the driving influence of the DE on ISOU is targeted [...] Read more.
The digital economy (DE) has become a major driving force behind the optimization and upgrading of industrial structures (ISOU), but research on its driving mechanisms has yet to be verified. To this end, the driving influence of the DE on ISOU is targeted and the role played by economic resilience (ER) and innovation is explored. Based on the panel data of 31 provinces in China from 2011 to 2020, the driving influence of the DE on ISOU is analyzed using a two-way fixed-effects model. This empirical study finds that the DE has a positive driving effect on both industrial structure advancement and rationalization and that the driving effect is still significant after the addition of control variables and the robust-type test with one period of lag. The DE presents regional differences in ISOU, with the driving effect of the DE on the industrial structure advancement in the eastern region having a more significant performance than that in the central and western regions and the driving influence on the rationalization of the industrial structure in the eastern and western regions exceeds that in the central region. The impact of the DE on ISOU has a mediating role through innovation. ER has a moderating role in the process and innovation, as a partial mediator, also has a threshold effect. Finally, based on the research and discussion, conclusions and countermeasure recommendations are presented. Full article
(This article belongs to the Special Issue Digital Transformation and Innovation for a Sustainable Future)

Review

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29 pages, 1404 KiB  
Review
A Systematic Literature Review of the Digital Transformation in the Arabian Gulf’s Oil and Gas Sector
by Abdulla Al-Hajri, Galal M. Abdella, Hussein Al-Yafei, Saleh Aseel and Abdel Magid Hamouda
Sustainability 2024, 16(15), 6601; https://doi.org/10.3390/su16156601 - 1 Aug 2024
Viewed by 1118
Abstract
Digital transformation has emerged as a significant driver of innovation globally, with Gulf Cooperation Council (GCC) nations actively participating in this evolution. This systematic review provides a comprehensive assessment of the digital transformation in the GCC’s oil and gas sector over the past [...] Read more.
Digital transformation has emerged as a significant driver of innovation globally, with Gulf Cooperation Council (GCC) nations actively participating in this evolution. This systematic review provides a comprehensive assessment of the digital transformation in the GCC’s oil and gas sector over the past decade. Through a rigorous bibliometric analysis of 505 documents sourced from the SCOPUS database, this study examines trends in research outputs, affiliations, and publication types. The analysis reveals dynamic trends in research outputs, with the GCC showing a substantial growth in publications in recent years, particularly mirroring global trends, albeit on a smaller scale. Despite this progress, GCC publications in 2023 represent approximately 30% of the decade’s total, reflecting opportunities for increased research investment and international collaboration to enhance scientific output. Key findings highlight the United Arab Emirates as a leading contributor with (35%) of publications, followed by Saudi Arabia (29%) and Kuwait (26%). Oman, Bahrain, and Qatar exhibit comparatively fewer publications, suggesting potential areas for increased research focus. Conference papers dominate the scholarly output, comprising 92% of the publications, underscoring their role in disseminating research findings effectively. The top six world-leading research centers in digital transformation in oil and gas were analyzed and found to represent approximately 26% of global publications in the research field. This review contributes to the global discourse on technological adoption, innovation, and sustainable development by synthesizing the existing literature. It emphasizes the imperative of sustained research investment and strategic initiatives to strengthen scientific output in the GCC’s digital transformation of the oil and gas sector. By providing robust analysis and insights into regional contributions, this study informs policymakers, industry leaders, and researchers aiming to advance digital initiatives across the GCC. Full article
(This article belongs to the Special Issue Digital Transformation and Innovation for a Sustainable Future)
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