Sustainable Corporate Growth Under Uncertainty: Exploring Mitigating Strategies in an Emerging Economy

Recently, researchers, academics, and corporate stakeholders have shown increasing interest in understanding the extent to which uncertainties affect corporate strategies and outcomes. During the growing uncertainties stemming from firm‐specific, market‐based, and economic policy challenges, organizations must develop strategic resilience to sustain growth and performance. This study investigates the influence of three forms of uncertainties, including economic policy uncertainty (Ep‐u), market‐based uncertainty (M‐u), and firm‐specific uncertainty (Fs‐u), on corporate growth. The study further explores the moderating impact of various factors, including financial constraints, state ownership, trade credit, and government subsidies, on the uncertainty–growth association. Analyzing a sample of Chinese‐listed manufacturing firms from 2003 to 2023, the study finds that uncertainties (Ep‐u, M‐u, and Fs‐u) negatively influence corporate growth. This adverse impact intensifies under financial constraints but is alleviated through state ownership, trade credit, and government subsidies. Robustness checks confirm the validity of the results. This study advances the literature by investigating how multiple forms of uncertainty influence firm growth and by identifying the distinct moderating roles of financial constraints, state ownership, trade credit, and government subsidies in the Chinese context. These insights underscore the importance of institutional support and alternative financing strategies to strengthen firm resilience and sustain growth during multifaceted uncertainties.