While digital transformation is pivotal for the sustainable growth of "Specialized, Refined, Differential, and Innovative" (SRDI) enterprises, existing research often overlooks the complex configurational interplay of Environmental, Social, and Governance (ESG) factors. To address this gap, this study integrates Innovation Diffusion, Social Impact, and Principal-Agent theories to examine how ESG dimensions combine to drive high-level digital transformation. Adopting a hybrid fuzzy-set Qualitative Comparative Analysis (fsQCA) and Necessary condition analysis (NCA) approach on 87 listed Chinese SRDI enterprises, we uncover multiple causal pathways. Key findings reveal that: (1) No single ESG dimension constitutes a statistical necessary condition (effect size < 0.1), confirming that transformation relies on configurational synergy rather than single bottlenecks. (2) ESG pillars play distinct roles within sufficient configurations: The environmental pillar serves as a core foundational driver for technology-centric outcomes (Solution Coverage: 0.77), whereas social and governance pillars form a synergistic "two-wheel drive" crucial for organizational empowerment (Solution Coverage: 0.68). (3) The pathways exhibit clear equifinality, where strong environmental performance can substitute for social weaknesses in specific technological contexts, but social-governance alignment is essential for stakeholder-driven innovation. This study moves beyond linear explanations to offer a holistic, configuration-based framework for sustainable corporate strategy.
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Zitao Yang
Zixiao Zhang
Huaxia Hu
Sustainable Futures
Wuhan University of Technology
Southwestern University of Finance and Economics
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Yang et al. (Sat,) studied this question.
www.synapsesocial.com/papers/69a75f2ac6e9836116a2a574 — DOI: https://doi.org/10.1016/j.sftr.2026.101708