Drivers of ESG Performance Among SMEs in Cagayan de Oro City, Philippines: The Moderating Role of Technology Adoption on Motivation and External Pressure
摘要
The purpose of this study is to examine how technology adoption could influence the effect of internal and external factors on enhancing Environmental, Social, and Governance (ESG) performance among small- and medium-sized enterprises (SMEs) in the Cagayan de Oro City area in the Philippines. The analysis was performed using partial least squares structural equation modeling (PLS-SEM) on the data extracted from survey questionnaires completed by 151 SME owners and managers. While external pressure had a slight nonsignificant impact on the latter, the findings revealed that both intrinsic motivation and technology adoption significantly influenced ESG performance. Statistical support did not show the moderating effect of technology adoption on the impact of external pressure and intrinsic motivation, implying that technology adoption is a direct enabler rather than a moderator. The model fit (Standardized Root Mean Square Residual [SRMR] = 0.064 and Normed Fit Index [NFI] = 0.861) suggests an acceptable fit between the data and the proposed model. The results emphasize the value of internal commitment and digital capability in driving ESG goals, providing practical insights for both policymakers and SME managers aiming to strengthen sustainability among local enterprises.