Digital transformation, innovation capability and speed of internationalization

•Digital transformation can promote the initial internationalization speed of enterprises.•Digital transformation can promote the speed of post-entry internationalization.•The more vital the innovation ability of enterprises, the stronger the promotion effect of digital transformation on the initial internationalization speed.•The more robust the firm's innovation capability, the stronger the facilitating effect of digital transformation on the speed of post-entry internationalization. Based on the data of Chinese listed firms from 2012 to 2022, this paper provides an in-depth discussion of the mechanism of digital transformation on the speed of internationalization and its boundary conditions. The findings show that digital transformation significantly improves firms' adaptability to environmental changes, which in turn accelerates initial and post-entry internationalization speed. In addition, digital transformation enhances the ability to cope with uncertainty, facilitates knowledge sharing and dynamic transfer within the enterprise, and further stimulates the innovation vitality of the enterprise. Ultimately, digital transformation helps build an innovation ecosystem for the real economy and accelerates the internationalization process of enterprises.