Decoding multi-paths: Context, configuration and capability resonance of ESG performance in SRDI enterprises - configuration analysis based on fsQCA and NCA

Strengthening ESG (Environmental, social, and governance) performance is vital for high-quality green development of Chinese enterprises, especially for a large number of SRDI (Specialization, Refinement, Distinctiveness, and Innovation) enterprises. On this basis, this study develops a “context-configuration-capability” framework, drawing on optimal distinctiveness and existence/non-existence philosophy, combining NCA and fsQCA methods, and uses 87 SRDI listed companies to explore multi-state paths for enhancing corporate ESG performance.. The study finds that: (1) The ESG performance of SRDI enterprises is not driven by a single factor but is the result of the resonance and synergy among context, configuration, and capability conditions; (2) Three paths—strengthening cognition, capital raising, and technological improvement—along with government-driven transformation, can significantly enhance ESG performance in SRDI enterprises; (3) there are complementary and substitutive dynamic relationships between different conditional configurations, further enhancing the diversity and flexibility of the paths; and (4) compared to contextual conditions, configurational conditions and capability conditions produce key resonance effects in improving ESG performance. This study not only enriches the theoretical foundation of the “context-configuration-capability” framework, but also provides practical guidance on multipath resonance for SRDI enterprises in their pursuit of ESG excellence.