Digital Technology Adoption and ESG Performance: The Moderating Role of Board and TMT Size
摘要
With the growing global focus on sustainable development, ESG performance has become a major priority for stakeholders, investors, and policymakers. This study explores the impact of digital technology adoption on ESG performance of non-technology publicly listed companies in Malaysia from 2018 to 2023. We rely on asymmetric information theory (AIT) and resource dependence theory (RDT) to further explore the moderating role of the size of the board and top management team in this relationship. Using fixed-effects regression analysis, we find that digital technology adoption significantly improves ESG performance, although larger board and TMT size dampens this effect. This study offers preliminary evidence about the function of digitization in business sustainability and provides policy insights for strengthening governance structures in the current digital era.