The impact of corporate technology for social good on corporate performance: evidence from Chinese listed companies

In the context of the convergence of sustainable development and technological innovation, leveraging technology for social good (TSG) has become critical to firm success. Using data from Chinese A-share listed firms covering the period 2016–2022, with a total sample of 2484 observations, this study employs ordinary least squares regression analysis to examine the impact of TSG on financial and innovation performance. Rigorous robustness checks and endogeneity tests are conducted to ensure the validity of the results. The empirical results demonstrate that TSG significantly enhances corporate performance. This positive relationship is strengthened by media attention and digital transformation. Finally, the resource-based and institutional theories are integrated to explain the value-creating mechanism of TSG. Practical implications suggest that managers should strategically align TSG initiatives with digital transformation efforts and external communication strategies to achieve superior competitive advantage.