Research on the Relationship Between Digital Transformation and Energy Enterprise Performance Based on Multiple Linear Regression Model

We reviewed the relationship between digital transformation and energy enterprise's performance in this study. The result helps enterprises achieve coordinated and sustainable development in the wave of digital transformation. Using empirical analysis and the data of all listed energy companies in China's A-share market from 2013 to 2022, we built a model to test the impact of digital transformation on the performance of energy enterprises. Their technological innovation was an intermediate variable in the model. With significant costs in the process of digital transformation, digital and artificial intelligence (AI) technology improved the technological and product innovation ability of enterprises, increased operational efficiency, enhanced the competitive advantage of enterprises, and then improved performance. A positive correlation between digital transformation and the performance of energy enterprises was found. At the same time, technological innovation showed a significant effect on digital transformation and energy enterprises' performance. Enterprises need to seize the opportunity through the integration of innovation, digitization, and intelligence to have innovation breakthroughs and leap in innovation.