The interplay of institutional pressures, digitalization capability, environmental, social, and governance strategy, and triple bottom line performance: A moderated mediation model
研究制度压力如何通过环境社会治理战略影响企业三重底线绩效，并发现数字化能力能强化这一间接效应，对中国零售和运输行业子公司有管理启示。
Abstract This study seeks to elucidate the mediating role of environmental, social, and governance strategy (ESGS) in bridging the nexus between institutional pressures—specifically regulatory and stakeholder influences—and triple bottom line performance (TBLP), which encompasses economic, social, and environmental facets. Concurrently, this study examines the extent to which digitalization capability influences these dynamics. Utilizing a dataset from subsidiaries within China's retail and transportation sectors, we employed structural equation modeling alongside regression analysis to validate our hypotheses. The findings corroborate a partial mediating effect of ESGS on the TBLP in response to institutional pressures while highlighting digitalization capabilities' moderated mediation role in strengthening the relationship between institutional pressures and TBL through ESGS implementation. By weaving together institutional theory and dynamic capability perspectives, this study advances the understanding of strategic avenues that influence TBLP through ESGS and offers managerial insights for effectively leveraging ESG strategies.