Unveiling the Nexus of Governance, Stakeholder, and Technology Through Environmental Impact Assessment for Natural Resource Management

Despite growing policy attention to sustainable natural resource management, limited empirical evidence explains how governance structures, stakeholder dynamics, and technological mechanisms jointly shape sustainability outcomes in resource-dependent industries. Existing studies predominantly rely on linear models and overlook the configurational and necessary conditions underpinning effective management. Addressing this theoretical and methodological gap, this study investigates how good governance, stakeholder engagement, green technology, and environmental impact assessment influence effective natural resource management in Bangladesh’s power and fuel industries. To capture both net effects and causal complexity, the study integrates Partial Least Squares Structural Equation Modelling (PLS-SEM), fuzzy-set Qualitative Comparative Analysis (fsQCA), and Necessary Condition Analysis (NCA) using survey data collected from industry professionals. The findings show that stakeholder engagement and green technology exert significant positive effects on management performance, while governance and environmental impact assessment operate as necessary institutional thresholds rather than standalone predictors. Configurational analysis further reveals multiple pathways through which governance, technology, and assessment mechanisms jointly produce high-performance outcomes. The study advances stakeholder and sustainability governance theory by demonstrating that resource management effectiveness emerges from complementary institutional, participatory, and technological conditions rather than isolated factors. From a managerial perspective, the findings underscore the need to strengthen governance quality, institutionalize rigorous environmental assessment processes, and foster stakeholder-driven technological adoption to achieve long-term sustainability in resource-intensive sectors.