DIGITAL TRANSFORMATION AND SUSTAINABLE DEVELOPMENT: EVIDENCE FROM LISTED STEEL ENTERPRISES
DOI:
https://doi.org/10.18623/rvd.v23.5969Keywords:
Digital Transformation, Sustainable Development, Listed Steel EnterprisesAbstract
This study analyzes the impact of digital transformation on the sustainable development of listed steel enterprises in Vietnam during the period 2020–2025. In the context of the steel industry facing cost pressures, high energy intensity, and market volatility, digital transformation is regarded as a strategic capability aimed at enhancing firms’ operational efficiency and adaptive capacity. Based on a panel dataset collected from financial statements and annual reports, the study employs panel data regression models, including fixed effects (FE) and random effects (RE), combined with the Hausman test to select the most appropriate model specification. The empirical results demonstrate that digital transformation has a positive and statistically significant impact on firms’ sustainable development. This finding implies that investment in digital technologies and the reconfiguration of business processes can improve resource utilization efficiency and strengthen long-term growth performance. Robustness checks further confirm the stability and reliability of the empirical results. Accordingly, the study proposes policy implications aimed at promoting digital transformation in the steel industry, thereby contributing to the orientation of sustainable development in the context of emerging economies that are shifting toward technology-driven and innovation-based growth models.
References
Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99–120.
Baltagi, B. H. (2005). Econometric analysis of panel data (3rd ed.). [Editora não identificada — recomenda-se completar]
Bharadwaj, A., El Sawy, O. A., Pavlou, P. A., & Venkatraman, N. (2013). Digital business strategy: Toward a next generation of insights. MIS Quarterly, 37(2), 471–482.
Eccles, R. G., Ioannou, I., & Serafeim, G. (2014). The impact of corporate sustainability on organizational processes and performance. Management Science, 60(11), 2835–2857.
Modigliani, F., & Miller, M. H. (1958). The cost of capital, corporation finance and the theory of investment. American Economic Review, 48(3), 261–297.
Penrose, E. T. (1959). The theory of the growth of the firm. Oxford University Press.
Teece, D. J., Pisano, G., & Shuen, A. (1997). Dynamic capabilities and strategic management. Strategic Management Journal, 18(7), 509–533.
Verhoef, P. C., Broekhuizen, T., Bart, Y., et al. (2021). Digital transformation: A multidisciplinary reflection and research agenda. Journal of Business Research, 122, 889–901.
Vial, G. (2019). Understanding digital transformation: A review and a research agenda. The Journal of Strategic Information Systems, 28(2), 118–144.
Downloads
Published
How to Cite
Issue
Section
License
I (we) submit this article which is original and unpublished, of my (our) own authorship, to the evaluation of the Veredas do Direito Journal, and agree that the related copyrights will become exclusive property of the Journal, being prohibited any partial or total copy in any other part or other printed or online communication vehicle dissociated from the Veredas do Direito Journal, without the necessary and prior authorization that should be requested in writing to Editor in Chief. I (we) also declare that there is no conflict of interest between the articles theme, the author (s) and enterprises, institutions or individuals.
I (we) recognize that the Veredas do Direito Journal is licensed under a CREATIVE COMMONS LICENSE.
Licença Creative Commons Attribution 3.0
