Abstract
The rapid proliferation of digital technologies has fundamentally transformed business models, creating complex governance and regulatory challenges for firms in the digital economy. Traditional corporate governance frameworks, designed for industrial-era firms, often fail to address accountability, risk management, and strategic decision-making in platform-based and data-driven environments. This study investigates the interplay between regulation, corporate governance, and strategic management, with the objective of proposing a framework for accountable and sustainable value creation. A qualitative methodology was adopted, combining systematic literature review, content analysis, and illustrative case studies of leading digital firms. The analysis reveals that strong regulatory environments enhance governance transparency and board oversight yet may constrain short-term innovation. Boards with digital expertise improve strategic alignment, risk monitoring, and technology governance, while proactive engagement with regulatory bodies fosters resilience and long-term competitiveness. Integrating digital risk governance mechanisms, including AI oversight and data ethics structures, strengthens stakeholder trust and reinforces legitimacy. The findings support an integrated governance–strategy framework in which regulation shapes governance architecture, governance quality guides strategic orientation, and strategic alignment drives sustainable value creation. Strategic outcomes, in turn, influence regulatory evolution, reflecting a dynamic co-evolution between firms and institutional contexts. The study contributes to theory and practice by highlighting the role of governance as a strategic resource and accountability as a multidimensional construct extending beyond compliance. Implications are drawn for firms, regulators, and scholars seeking to foster innovation, inclusivity, and resilient digital business ecosystems.