Competitive Intelligence Capability, Digital Transformation, and Strategic HRM Adjustment: Evidence from Chinese and Spanish Listed Companies

Abstract

Purpose: This paper examines how competitive intelligence capability converts digital transformation into strategic human resource management strategy adjustment in listed companies from China and Spain. Methodology/approach: Using a balanced panel dataset of 687 Chinese listed companies and 234 Spanish listed companies covering 2020-2024, the study applies two-way fixed-effects regression, instrumental-variable estimation, moderation analysis, heterogeneity analysis, and robustness tests. Competitive intelligence is operationalized through a Competitive Intelligence Capability Index based on collection, analysis, governance, dissemination, and actionable-response indicators extracted from annual reports and governance disclosures. Originality/Relevance: The article responds directly to the Sustainable Competitive Intelligence agenda by treating competitive intelligence as an empirical organizational capability rather than a contextual label for digital transformation. Key findings: CI-enabled digital transformation positively affects HRMS optimization, digital talent cultivation, and organizational flattening. The effect is stronger in Spain than in China, while state ownership and regional digital development condition the strength of the DT-HRMS relationship. Theoretical/methodological contributions: The paper integrates the intelligence cycle, dynamic capabilities, and institutional theory, and proposes an operational route for measuring competitive intelligence capability in large-scale secondary-data studies.