EconPapers    
Economics at your fingertips  
 

Perceived ESG and Competitive Performance: A Moderated Mediation Model of Green Technology Innovation and Digital Transformation in Chinese Manufacturing

Jingdi Fan and Vesarach Aumeboonsuke ()
Additional contact information
Jingdi Fan: International College, National Institute of Development Administration, Bangkok 10240, Thailand
Vesarach Aumeboonsuke: International College, National Institute of Development Administration, Bangkok 10240, Thailand

Sustainability, 2025, vol. 17, issue 18, 1-28

Abstract: This study investigates how perceived ESG influences competitive performance through green technology innovation, with a focus on the moderating role of digital transformation. Grounded in social exchange theory and extending stakeholder exchange orchestration mechanisms, the research proposes that ESG initiatives foster reciprocal stakeholder relationships that drive innovation and performance through specific temporal and cultural exchange processes. Using survey data from 453 Chinese green manufacturing enterprises, we applied structural equation modeling to test the theoretical framework. Findings show that all perceived ESG dimensions, environmental, social, and governance significantly enhance both green technology innovation and competitive performance. Green technology innovation serves as a key mediator, illustrating how sustainability initiatives create competitive advantages through innovation mechanisms. Digital transformation amplifies these effects across all perceived ESG dimensions. This research contributes to sustainability literature by introducing stakeholder exchange orchestration theory, validating perception-based ESG measurements in emerging market contexts, and demonstrating digitally enhanced social exchange mechanisms. For practitioners, the study provides resource-constrained implementation strategies and innovation-focused approaches essential to maximize sustainable competitive performance outcomes. The results offer empirically grounded insights into how sustainability practices can drive innovation-based competitive advantages in emerging economies.

Keywords: perceived ESG; green technology innovation; digital transformation; enterprise competitive performance; sustainability (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2071-1050/17/18/8415/pdf (application/pdf)
https://www.mdpi.com/2071-1050/17/18/8415/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:17:y:2025:i:18:p:8415-:d:1753315

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().

 
Page updated 2025-09-20
Handle: RePEc:gam:jsusta:v:17:y:2025:i:18:p:8415-:d:1753315