Open innovation, digital transformation, the mediating effect of technological maturity and diversity

In the backdrop of the sharing economy era, enterprises are increasingly recognising the strategic value of collaborative partnerships with external stakeholders to foster successful digital transformation. This study employs panel data from Chinese-listed companies to meticulously examine the impact of open innovation on digital transformation, offering empirical insights into the intricate relationship between open innovation and technological development by dissecting technological capabilities into maturity and diversity. The findings underscore the mediating role of technological maturity and diversity, highlighting their significance as conduits through which open innovation influences digital transformation. Conclusion advocates for open innovation's application in the digital economy and advances understanding of digital transformation's antecedents. The study's exploration of technology's role in enterprise transformation across maturity and diversity levels enriches this discourse, providing strategic implications for resource allocation and decision-making in the digital transformation journey.