Environmental, Social, and Governance (ESG) Strategies for Driving Business Performance: Evidence From the Communication Services Industry in Asia

Abstract

This study explores the intersection of business strategy and environmental, social, and governance (ESG) pillars within the communication sector. Previous research has primarily examined these elements in isolation, with limited emphasis on their integration within technology-driven industries. In addition, most studies on digital transformation rely on cross-sectional data, leaving a gap in longitudinal research. Addressing these gaps, this study analyzes Asian digital companies, investigating how business strategy influences ESG performance, which in turn, mediates business performance. Findings indicate that business strategy positively impacts ESG performance, ultimately enhancing overall business performance. This research highlights the importance of aligning business strategy with sustainable development in the communication sector. By focusing on longitudinal insights and industry-specific implications, this study contributes to both academic literature and corporate practice. However, the study's regional scope may limit its generalizability. These findings reinforce the strategic advantages of embedding ESG principles within business frameworks, particularly in technology-intensive industries.