Impact of Digital Transformation on the ESG Performance of Sports EnterprisesAn Empirical Study Based on A-share Listed Sports Companies

This study empirically analyzes the impact of digital transformation on ESG (Environmental, Social, and Governance) performance of A-share listed sports companies from 2009 to 2023. The results demonstrate that digital transformation significantly enhances the ESG performance of sports enterprises, specifically showing that every 1% increase in digital transformation level leads to a 0.313 improvement in enterprises' ESG ratings. This conclusion remains valid after multiple robustness tests and endogeneity tests. Heterogeneity analysis further reveals that the sports service industry can more flexibly and efficiently enhance service quality and user satisfaction through digital transformation, thereby significantly improving ESG performance. In contrast, the sports manufacturing industry shows relatively limited direct impact of digital transformation on ESG performance due to complex production chains and substantial tangible asset investments. Mechanism test results indicate that the promoting effect of digital transformation on sports enterprises' ESG performance is primarily facilitated through the accumulation of innovation capital and the enhancement of enterprises' performance.