Business Strategy and Development最新文献

This study explores the impact of a CEO's educational background from a top university on reducing corporate ESG risk and the potential moderating role of CEO gender. Using the QS World University Rankings (QS WUR) to define reputable universities, the research focuses on companies in ASEAN (Association of Southeast Asian Nations) countries, known for elevated ESG risks. Through Ordinary Least Squares (OLS) regression analysis, the results show that CEOs educated at top universities reduce ESG risk, while CEO gender does not moderate this relationship. The findings represent the importance of reputable universities as habitus to support the globalization of business and responsible management education, regardless the gender. The results also highlight the influence of educational background on corporate ESG performance, with significant implications for corporate strategy and CEO appointments.

This study examines the key factors influencing sustainable performance in commercial banks, focusing on the impact of non-financial metrics—customer focus, internal processes, and learning and growth—within the Balanced Scorecard framework on the performance of commercial banks in Ethiopia. Additionally, it examines the moderating role of management commitment in this relationship, grounded in organizational learning theory, upper echelons theory, and the balanced scorecard model. The study adopts an explanatory research design, utilizing covariance-based structural equation modeling and interaction-term analysis. A multi-stage sampling technique, followed by systematic random sampling, was employed, with Soper's formula used to determine a sample size of 480 from a total population of 4990. Mahalanobis distance was applied to identify and remove biased responses. The findings reveal that non-financial metrics—customer focus, internal processes, and learning and growth—positively affect commercial banks' sustainable performance, and management commitment strengthens this effect. Furthermore, the results empirically validate the proposed hypotheses, emphasizing the value of incorporating non-financial metrics into performance measurement and highlighting the essential role of management commitment in ensuring their success. This research fills a gap in the literature on sustainable performance measurement within the Ethiopian banking sector and provides actionable insights for managers and policymakers.

Global agrifood supply chains are under increasing pressure to address sustainability issues due to growing concerns. However, numerous organizations within the agrifood industry are struggling to incorporate sustainable supply chain management practices and address the concerns. Therefore, this research is designed to identify the key critical factors, such as drivers, enablers, and barriers to adopting sustainable practices. This study considers the Ethiopian coffee industry, which is an important sector not only for the Ethiopian economy but also for the global agrifood supply chain. To accomplish the objectives of this study, we applied a systematic literature review and empirical survey. A systematic literature review was conducted to identify critical factors for adopting sustainability in agrifood supply chains. An empirical survey was then undertaken in the Ethiopian coffee industry to rank the key critical factors. Hence, the study has revealed that economic and productivity improvement, cost effectiveness and improvement in the overall performance, and difficulty in mindset and cultural changes as the key critical factors that determine the adoption of sustainability initiatives from the perspectives of the Ethiopian coffee supply chain. The findings can be used as input by government regulatory bodies and policymakers to craft strategies and policies to adopt sustainability initiatives and ensure sustainable development. Furthermore, the research is expected to contribute to the existing literature by bringing in the perspective of suppliers in developing countries.

This study assesses the effect of the board of directors' attributes, environmental committee (EC), and institutional ownership (IO) on carbon disclosure quality (CDQ) from the perspectives of legitimacy and agency theories in Malaysia. This study collects and analyzes data based on 1000 observations of firms from carbon-intensive industries from 2015 to 2019. The effect of the board of directors' attributes, EC, and IO on the CDQ was observed using a panel data regression model. The study revealed a significant positive relationship between board independence, board size, female representation, EC, IO, and CDQ. These findings suggest that carbon disclosure awareness is rising in Malaysia as firms have gradually integrated corporate governance (CG) best practices into their business strategies. To the best of our knowledge, this is the first study to examine the factors that influence CDQ in Malaysian businesses. This study identified firms with a higher CDQ using a new global reporting initiative-based carbon reporting index. This expands the literature on carbon disclosures. This study focuses on carbon-intensive industries, which might not reflect Malaysia's current CDQ situation. Thus, future research should focus on other sectors to fully grasp the current state of the CDQ in Malaysia and offer new perspectives on emerging markets. The findings may benefit a vast group of regulatory bodies in assessing Malaysian firms' responses to local and international carbon guidelines.

The green transition is increasingly viewed as a path to prosperity, or even survival, for organizations. In several countries, greening is vigorously pursued across various organizational activities, including organizational culture, which has garnered significant scholarly attention. However, there appears to be no comprehensive literature review on green organizational culture (GOC) indexed by reputable databases like Scopus. This paper aims to provide a bibliometric overview of GOC. A total of 558 documents from Scopus, spanning 1996–2023, were analyzed using bibliometric methods. The study examines the research performance on GOC, including volume growth trajectory, document types, contributing countries, international collaboration, research groups, influential authors, and prominent sources in GOC research. Notably, it identifies five main schools of thought and two topical trends in GOC literature. This may be the first effort to review GOC literature using Scopus data, highlighting performance and mapping the scientific landscape of this field.

This study investigates whether environmental, social, and governance (ESG) disclosures enhance industry-adjusted firm performance and whether the presence of foreigners on board and export orientation affect this relationship. The Taiwan dataset from 2013 to 2020 indicates that ESG practices positively affect accounting- and market-based performance (i.e., adjusted Tobin's Q and adjusted MTB ratio). However, ESG has no significant relationship with purely market-based performance (i.e., adjusted Jensen Alpha and adjusted FF3). The results illustrate a significant joint effect of ESG with foreigners on board and export experience on accounting and market-based performance. The findings provide deeper insight into the complex relationship between sustainability practices, ownership structures, and international businesses. Our findings remain consistent when using alternative estimation methods to account for endogeneity and selection bias.

Corporate risk-taking, which aims to maximize shareholders' profits, has raised concerns regarding potential conflicts with Environmental, social and governance (ESG) investments. We address this gap by investigating the relationship between corporate risk-taking and ESG performance using an international sample from 20 economies spanning 2000 to 2022, while carefully accounting for endogeneity based on GMM, Heckman sample selection bias and simultaneous equations. Our findings reveal a significantly negative relationship, suggesting a trade-off between the two, which aligns with the conservation of resources (COR) theory. Furthermore, the COR theory is integrated with agency theory and stakeholder theory when examining subsamples of high and low corporate governance scores. Additionally, we find that economic policy uncertainty (EPU) positively moderates this relationship, particularly in high-income economies and for large firms. This effect is evident during the post-2008 subprime crisis period but dissipates in the post-COVID-19 era. The overall findings have several important theoretical and practical implications for the literature.

The emergence of climate change calls for the high-intensity adoption of sustainability practices in all business actors, especially small-and-medium enterprises (SMEs). Yet the adoption of such practices remains lag far lower than developed nations. This article examines the relationship between sustainability practices, a firm's strategic movements towards co-innovation and entrepreneurial orientation, and SMEs performance. Using quantitative data from questionnaires, a total of 450 SMEs in Vietnam participated in this research. The results indicate two crucial findings. First, economic and social sustainability practices enable technological innovation and innovation outcomes through co-innovation and entrepreneurial orientation. Second, the effectiveness of technological innovation on SMEs performance is examined in a developing country context. These findings will provide empirical evidence for SMEs and corporations in developing countries to craft sustainable orientations and practices to aid the Sustainable Development Goals.

Geopolitical risk (GPR) presents a profound challenge to firms, particularly in regions with persistent political instability. In Eastern Europe, where conflicts like the Russia–Ukraine war heighten uncertainty, firms face immediate financial threats and long-term strategic vulnerabilities. This study examines the impact of GPR on firm performance, focusing on the moderating role of environmental, social, and governance (ESG) practices as a resilience mechanism. Using a comprehensive dataset of 1360 publicly listed firms across Poland, Russia, and Ukraine from 2014 to 2023, the analysis employs a base panel data regression model, followed by a two-step generalized method of moments (GMM) approach to account for endogeneity and ensure robustness. The findings reveal a significant negative relationship between GPR and firm performance, measured by return on assets (ROA). Firms exposed to higher geopolitical risks exhibit weaker profitability. However, firms with stronger ESG performance demonstrate greater resilience, as the GMM results show that ESG engagement moderates the adverse effects of GPR on profitability. This suggests that ESG initiatives enhance adaptive capacity in volatile geopolitical environments. In terms of policy implications, ESG should be promoted as a key strategy for firms operating in politically unstable regions. Governments and regulatory bodies may consider mandatory ESG disclosures and incentivizing sustainability practices to help firms mitigate external risks, improve financial resilience, and attract stable investment. Aligning corporate strategies with global ESG standards is essential to ensuring business sustainability amid ongoing geopolitical threats.

This study is designed to conduct a systematic literature review aimed at assessing the influence of environmental, social, and governance (ESG) performance on firm value. Although previous studies have explored their relationship, a comprehensive systematic review on this topic is still lacking. We conducted a detailed literature search in the Scopus and Web of Science databases and identified 73 papers published between 2016 and 2023 as the sample, covering annual trends, country and industry distribution, theoretical frameworks, proxy variables, research methods, research results, and provided direction for future research. We found a significant increase in the number of studies over the past 3 years. Cross-country studies dominated the field, with most research adopting multi-industry analysis, while studies focusing on a single industry were relatively rare. The stakeholder theory and agency theory were the most widely applied theories. Most studies showed that ESG performance had a positive effect on firm value, reflecting the growing importance that markets and investors placed on ESG performance and its contribution to long-term firm growth. However, some studies reported negative or insignificant effects, noting that the effects of ESG performance varied by industry, region, and market environment. This study suggests that future research should explore the independent and interactive effects of each ESG dimension on firm value, focusing on dynamic relationships across industries and regions, using new methods and models, and incorporating moderating variables. This study provides practical guidance for firm managers and policymakers to optimize ESG practices, enhancing firm value and promoting sustainability.