Source data for statistical analyses.

Platform firms in the digital economy face a critical challenge: balancing differentiation-driven competitive strategies with the need for institutional legitimacy. While existing research recognizes this tension, current frameworks inadequately address how governance mechanisms mediate strategic positioning in trust-sensitive sharing economy contexts. This study integrates Porterian positioning theory with platform boundary theory to analyze 33 chinese sharing platforms through fuzzy-set Qualitative Comparative Analysis (fsQCA), examining configurations of three external positioning dimensions (variety-based, gender-based, and region-based differentiation) and two internal governance dimensions (resource ownership and transaction process differentiation). Our analysis identifies two equifinal success pathways: (1) An aggressive strategy combining market pioneering in user segmentation with cautious transaction governance, and (2) a conservative strategy aligning geographic specialization with institutional compliance in resource ownership. Both pathways demonstrate that governance mechanisms compensate for the legitimacy risks inherent in differentiation strategies, with platform performance contingent on strategic coherence between external positioning and internal governance architectures. Three key theoretical advances emerge: First, integrating Porterian positioning theory with platform boundary theory, we demonstrate how governance dimensions serve as compensatory tools that enable radical market differentiation in sharing economy platforms without legitimacy erosion, a trade-off insufficiently addressed in prior distinctiveness theory research. Second, building on configuration theory, in the context of the sharing economy, we solve the theoretical tensions in the distinctiveness-performance relationship by demonstrating configurational equifinality—both radical and conservative strategies succeed when external and internal dimensions achieve strategic coherence. Third, advancing research of sharing user participation, we establish that participation in trust-sensitive sharing platforms depends on strategic alignment between positioning and governance dimensions rather than isolated optimization of individual dimensions. These contextualized findings provide managers with evidence-based frameworks to coordinate market positioning strategies with governance investments, particularly when operating in institutionally complex environments. The demonstrated mechanisms in China’s sharing economy warrant future verification in other platform types and cultural contexts.数字经济中的平台企业面临一项关键挑战：在以差异化驱动的竞争战略与制度合法性需求之间寻求平衡。现有研究虽已意识到这一紧张关系，但当前框架未能充分阐释治理机制如何在信任敏感型共享经济场景中对战略定位起到中介作用。本研究将波特定位理论（Porterian positioning theory）与平台边界理论相结合，通过模糊集定性比较分析（fuzzy-set Qualitative Comparative Analysis, fsQCA）对33家中国共享经济平台展开分析，考察了三类外部定位维度（基于多样性、基于性别、基于区域的差异化）与两类内部治理维度（资源所有权与交易流程差异化）的组态效应。分析识别出两条等效的成功路径：（1）激进型战略：结合用户细分领域的市场开拓与审慎的交易治理；（2）保守型战略：将地理专业化与资源所有权层面的制度合规相结合。两条路径均表明，治理机制可弥补差异化战略内在的合法性风险，平台绩效取决于外部定位与内部治理架构之间的战略一致性。本研究实现三项关键理论突破：其一，将波特定位理论与平台边界理论相结合，我们阐释了治理维度如何作为补偿性工具，使共享经济平台能够在不削弱合法性的前提下实现激进的市场差异化——这一权衡在以往的差异化理论研究中未得到充分探讨。其二，基于组态理论，本研究在共享经济场景下解决了差异化-绩效关系中的理论张力，通过证明组态等效性：当外部与内部维度达成战略一致性时，激进型与保守型战略均可取得成功。其三，推进了共享用户参与研究，我们证实，在信任敏感型共享平台中，用户参与取决于定位与治理维度之间的战略对齐，而非单个维度的孤立优化。这些基于特定语境的研究发现为管理者提供了基于证据的框架，以协调市场定位战略与治理投入，尤其是在制度复杂的环境中开展业务时。本研究在中国共享经济场景中验证的机制，有待在其他平台类型与文化语境中进一步验证。