What Drives Corporate Sustainability Strategies? A Context‐Sensitive Text Mining Analysis of Sustainability Disclosures of Global Firms
分析了340家福布斯全球2000强企业的可持续发展报告，发现制度对齐、利益相关者参与和资源基础优势等驱动因素在不同行业和地区的影响存在显著差异。
ABSTRACT This manuscript presents an extensive examination of corporate sustainability reports from 340 firms included in the Forbes Global 2000, spanning a diverse array of industry sectors. The study investigates the relative significance of key drivers influencing sustainability strategies—specifically, institutional alignment, stakeholder engagement, and resource‐based advantages. Rather than assuming a single dominant strategic logic, the research recognizes that corporate sustainability strategies often represent combinations, shaped by multiple strategic logics to varying degrees. To interpret these hybrid orientations, the analysis draws on constructs and indicators from institutional theory, stakeholder theory, and resource‐based view. Using advanced large language models and context‐sensitive text‐mining techniques, the study systematically identifies and evaluates narrative patterns within sustainability reports. This enables a large‐scale, nuanced analysis of strategic orientations across multiple sectors. The findings indicate clear sector‐ and region‐specific differences in the influence of these strategic drivers, providing evidence‐based insights into how organizations formulate and articulate their sustainability initiatives.