2026-10-12T04:32:43Z https://api.figshare.com/v2/oai

oai:figshare.com:article/33955827 2026-09-21T17:25:33Z category_39 category_734 category_106 category_133 portal_5 item_type_3 month_year_09_2026

<p>Correlation analysis (n = 3,399).</p> Weiran Sun (25084425) Ecology Biological Sciences not elsewhere classified Science Policy Plant Biology new theoretical perspective dynamic capabilities theory value realization approaches effective embedding mechanisms realize value conversion value conversion pathways whether digital resources beyond digital investment external information environment value conversion digital resources digital investment embedding objects digital transformation embedded pathways xlink "> underlying logic study finds structural factors stable effects simply stem robustly supported positive association paper reveals paper proposes mediating effect listed companies intensive nature intensive industries intensive enterprises heterogeneous outcomes existing literature esg performance empirically examines analytical framework &# 8220 <div><p>There is no consensus in existing literature on how digital transformation facilitates sustainable development in energy-intensive enterprises. Based on the Resource-Based View and Dynamic Capabilities Theory, this paper proposes the “Value Embedding Mode” analytical framework, which categorizes the value conversion pathways of digital resources into asset-embedded and information-embedded pathways, and empirically examines this framework using panel data from listed companies in China's energy-intensive industries from 2011 to 2024. The study finds a positive association between digital transformation and ESG performance; however, this relationship does not simply stem from the scale of digital investment but depends on whether digital resources can realize value conversion through effective embedding mechanisms. Specifically, the asset-embedded pathway uses green innovation as a mediating channel; however, due to structural factors such as the capital-intensive nature of energy-intensive industries and long asset renewal cycles, its mediating effect is not robustly supported. In contrast, the information-embedded pathway, which relies on improvements in the external information environment as its channel, exhibits more stable effects on value conversion. This paper reveals the underlying logic by which the same digital resources generate differentiated ESG effects depending on the embedding objects and value realization approaches, offering a new theoretical perspective on the heterogeneous outcomes of digital transformation in energy-intensive enterprises.</p></div> 2026-09-21T17:25:24Z Dataset Dataset 10.1371/journal.pone.0343345.t003 https://figshare.com/articles/dataset/_p_Correlation_analysis_n_3_399_p_/33955827 CC BY 4.0