This study, which is anchored to Resource-Based View (RBV) theory, explores the relationship between artificial intelligence (AI), process optimization, organizational flexibility, and sustainability performance in organizational settings. Leveraging the RBV framework's focus on internal resources as sources of competitive advantage, this research seeks to clarify how AI adoption, process optimization, and organizational flexibility foster sustainable growth. SPSS PROCESS Macro was used to analyze the data from 288 organizations. The findings derived from the empirical data, this study verify the positive relationships between AI and process optimization as well as AI and sustainability performance, revealing the strategic nature of AI as a resource to improve operational effectiveness and environmental responsibility. Further, our results indicate the mediating role of process optimization and the moderating effect of organizational flexibility in determining the link between AI and sustainability outcomes. Moreover, results confirmed the indirect effects of AI on sustainability performance via process optimization under the boundary conditions of the organizational flexibility. These findings add to the developing literature of sustainable operational practices and provide practical suggestions that might be useful for the practitioners aiming at using AI driven by organizational capabilities to deliver sustainability performance.
本研究以资源观(RBV)理论为基础,探讨了组织环境中人工智能(AI)、流程优化、组织灵活性和可持续性绩效之间的关系。借助 RBV 框架对内部资源作为竞争优势来源的关注,本研究试图阐明人工智能的采用、流程优化和组织灵活性如何促进可持续增长。本研究使用 SPSS PROCESS Macro 分析了来自 288 家组织的数据。根据实证数据得出的结论,本研究验证了人工智能与流程优化以及人工智能与可持续发展绩效之间的正相关关系,揭示了人工智能作为一种资源在提高运营效率和环境责任方面的战略性质。此外,我们的研究结果表明,在人工智能与可持续发展结果之间的联系中,流程优化起到了中介作用,而组织灵活性则起到了调节作用。此外,研究结果还证实,在组织灵活性的边界条件下,人工智能通过流程优化对可持续发展绩效产生了间接影响。这些发现为可持续运营实践文献的发展添砖加瓦,并为旨在利用组织能力驱动的人工智能实现可持续发展绩效的实践者提供了实用建议。
{"title":"Maximizing CSR impact: Leveraging artificial intelligence and process optimization for sustainability performance management","authors":"Ali Nawaz Khan, Khalid Mehmood, Ahsan Ali","doi":"10.1002/csr.2832","DOIUrl":"10.1002/csr.2832","url":null,"abstract":"<p>This study, which is anchored to Resource-Based View (RBV) theory, explores the relationship between artificial intelligence (AI), process optimization, organizational flexibility, and sustainability performance in organizational settings. Leveraging the RBV framework's focus on internal resources as sources of competitive advantage, this research seeks to clarify how AI adoption, process optimization, and organizational flexibility foster sustainable growth. SPSS PROCESS Macro was used to analyze the data from 288 organizations. The findings derived from the empirical data, this study verify the positive relationships between AI and process optimization as well as AI and sustainability performance, revealing the strategic nature of AI as a resource to improve operational effectiveness and environmental responsibility. Further, our results indicate the mediating role of process optimization and the moderating effect of organizational flexibility in determining the link between AI and sustainability outcomes. Moreover, results confirmed the indirect effects of AI on sustainability performance via process optimization under the boundary conditions of the organizational flexibility. These findings add to the developing literature of sustainable operational practices and provide practical suggestions that might be useful for the practitioners aiming at using AI driven by organizational capabilities to deliver sustainability performance.</p>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-05-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140938839","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Yu-Chuan Chen, Tai-Yu Lin, Yung-ho Chiu, Ching-I Yang
Sustainable development is the primary goal of the current global economic transformation. The banking industry, as an intermediary institution within the financial system, not only serves as a crucial foundation for national economic development but also plays a key role in the global transition to sustainability and a low-carbon economy. Banks can leverage the influence of financing to direct funds towards sustainable ventures and simultaneously develop green financial products, guiding ordinary consumers to make more environmentally friendly choices. How the banking industry can effectively improve operational efficiency while considering sustainable development is one of the key focuses of ongoing development in the banking sector. The main aim of this study is to incorporate the aspect of sustainable development into the evaluation of operational efficiency, aligning with the goals of corporate sustainable development. It allows for an analysis of how decision-makers in the banking industry can adjust resources to maintain stable and sustainable profitability while promoting sustainable development. This study selected 13 financial holding banks and 19 non-financial holding banks in Taiwan as research subjects, covering the period from 2016 to 2021. Utilizing a meta assurance regions (AR) parallel dynamic two-stage slacks-based measure model with “operational stage” and “market and sustainability parallel stage,” the research explores the efficiency performance of banks considering sustainable development. It examines the differences in efficiency performance at various stages among different types of banks. The research findings are as follows: (1) among the banking industry in Taiwan, operational stage efficiency ranks the highest, followed by sustainable stage efficiency, while market stage performance lags behind. (2) Financial holding banks outperform non-financial holding banks on average in operational stage, market stage, and sustainable stage efficiency. (3) Fubon Financial, TFH, CATHAY HOLDINGS, and SKFH are benchmark performers among financial holding banks. (4) Non-financial holding banks exhibit a higher average technical gap ratio compared to financial holding banks, indicating that non-financial holding banks have fewer inefficient areas to improve. However, the technical efficiency of both groups of banks approaches each other over the years. (5) In the sustainable stage, financial holding banks demonstrate superior environmental indicators and corporate treatment efficiency compared to non-financial holding banks.
{"title":"An exploration of operational efficiency, market efficiency, and sustainable development in the banking industry","authors":"Yu-Chuan Chen, Tai-Yu Lin, Yung-ho Chiu, Ching-I Yang","doi":"10.1002/csr.2823","DOIUrl":"10.1002/csr.2823","url":null,"abstract":"<p>Sustainable development is the primary goal of the current global economic transformation. The banking industry, as an intermediary institution within the financial system, not only serves as a crucial foundation for national economic development but also plays a key role in the global transition to sustainability and a low-carbon economy. Banks can leverage the influence of financing to direct funds towards sustainable ventures and simultaneously develop green financial products, guiding ordinary consumers to make more environmentally friendly choices. How the banking industry can effectively improve operational efficiency while considering sustainable development is one of the key focuses of ongoing development in the banking sector. The main aim of this study is to incorporate the aspect of sustainable development into the evaluation of operational efficiency, aligning with the goals of corporate sustainable development. It allows for an analysis of how decision-makers in the banking industry can adjust resources to maintain stable and sustainable profitability while promoting sustainable development. This study selected 13 financial holding banks and 19 non-financial holding banks in Taiwan as research subjects, covering the period from 2016 to 2021. Utilizing a meta assurance regions (AR) parallel dynamic two-stage slacks-based measure model with “operational stage” and “market and sustainability parallel stage,” the research explores the efficiency performance of banks considering sustainable development. It examines the differences in efficiency performance at various stages among different types of banks. The research findings are as follows: (1) among the banking industry in Taiwan, operational stage efficiency ranks the highest, followed by sustainable stage efficiency, while market stage performance lags behind. (2) Financial holding banks outperform non-financial holding banks on average in operational stage, market stage, and sustainable stage efficiency. (3) Fubon Financial, TFH, CATHAY HOLDINGS, and SKFH are benchmark performers among financial holding banks. (4) Non-financial holding banks exhibit a higher average technical gap ratio compared to financial holding banks, indicating that non-financial holding banks have fewer inefficient areas to improve. However, the technical efficiency of both groups of banks approaches each other over the years. (5) In the sustainable stage, financial holding banks demonstrate superior environmental indicators and corporate treatment efficiency compared to non-financial holding banks.</p>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-05-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141012446","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Enrico Bernardini, Marco Fanari, Enrico Foscolo, Francesco Ruggiero
This paper investigates methodological issues and limited coverage of providers' environmental scores, which are increasingly employed by investors, financial institutions and policymakers for corporate environmental assessment. The contribution of the paper is twofold. First, regression analysis shows a substantial heterogeneity among the environmental scores of seven providers in the reliance on raw data. However, as some variables are found meaningful across providers, the request to enhance disclosure should focus on such variables. The heterogeneity of the unexplained component of the regression across providers can be arguably referred to as judgemental factors and underlines the providers' different focus on financial risk or environmental impact. Second, we propose a classification system based on corporate disclosure data that aims to enable investors to extend the environmental assessment of companies not rated by providers. This system has been calibrated to implement two common investment strategies, that is, best-in-class and exclusion and allows to build portfolios with both environmental and financial profiles similar to portfolios based on providers' scores. The work aims to contribute to the intersection between the analysis of methodologies of E-scores and their practical use for investment purposes. Rather than asking for a mirage of full comparability of E-scores, the paper substantiates that is of utmost importance to improve the disclosure of corporate data to enhance the environmental assessment as well as the transparency on providers' methodologies to enable investors to select E-scores consistent with their risk-impact preferences. Such transparency will foster the development of sustainable finance.
{"title":"Environmental data and scores: Lost in translation","authors":"Enrico Bernardini, Marco Fanari, Enrico Foscolo, Francesco Ruggiero","doi":"10.1002/csr.2829","DOIUrl":"10.1002/csr.2829","url":null,"abstract":"<p>This paper investigates methodological issues and limited coverage of providers' environmental scores, which are increasingly employed by investors, financial institutions and policymakers for corporate environmental assessment. The contribution of the paper is twofold. First, regression analysis shows a substantial heterogeneity among the environmental scores of seven providers in the reliance on raw data. However, as some variables are found meaningful across providers, the request to enhance disclosure should focus on such variables. The heterogeneity of the unexplained component of the regression across providers can be arguably referred to as judgemental factors and underlines the providers' different focus on financial risk or environmental impact. Second, we propose a classification system based on corporate disclosure data that aims to enable investors to extend the environmental assessment of companies not rated by providers. This system has been calibrated to implement two common investment strategies, that is, <i>best-in-class</i> and <i>exclusion</i> and allows to build portfolios with both environmental and financial profiles similar to portfolios based on providers' scores. The work aims to contribute to the intersection between the analysis of methodologies of E-scores and their practical use for investment purposes. Rather than asking for a mirage of full comparability of E-scores, the paper substantiates that is of utmost importance to improve the disclosure of corporate data to enhance the environmental assessment as well as the transparency on providers' methodologies to enable investors to select E-scores consistent with their risk-impact preferences. Such transparency will foster the development of sustainable finance.</p>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-05-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140841228","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Ilaria Tutore, Adele Parmentola, Michele Costagliola di Fiore, Francesco Calza
The circular economy (CE) presents a contemporary approach to integrating economic activity and environmental well-being sustainably, opposing the linear open-ended system. However, implementing this paradigm poses challenges, needing a fundamental shift in companies' strategies and business models. Emerging technology can support companies in transition toward CE and in particular artificial intelligence (AI) can play a crucial role in facilitating this transition by supporting companies not only in specific CE activities but also in strategically redefining their entire business models. Recognizing the increasing importance of both AI and CE in management literature, our paper seeks to integrate these two distinct streams of literature. Starting from existing studies, it tries to provide a framework able to understand the role of AI technology into enhancing CE. Through a systematic literature review using the Preferred Reporting Items for Systematic Review and Meta-Analysis protocol, using keywords research on three databases, we identified 63 articles that concurrently address both CE and AI topics. Subsequent co-occurrence and content analyses revealed how AI is utilized to bolster CE efforts leveraging the ReSOLVE framework (from the acronymous of Regenerate, Share, Optimise, Loop, Virtualise, and Exchange)—an operational tool for CE. The last step consists into the development of a conceptual framework outlining four stages of AI's engagement with the CE: namely System optimization, System redesign, Business Model redesign, and Ecosystem innovation. From our study emerges that while AI is already recognized for enhancing specific activities within CE, its potential as a strategic planning tool for business model redesign and ecosystem innovation remains largely unexplored.
循环经济(CE)是当代将经济活动与环境福祉可持续地结合起来的一种方法,它反对线性的开放式系统。然而,实施这一模式面临着挑战,需要从根本上转变公司的战略和业务模式。新兴技术可以支持企业向可持续发展转型,尤其是人工智能(AI),不仅可以支持企业开展具体的可持续发展活动,还可以在战略上重新定义其整个业务模式,从而在促进这一转型方面发挥至关重要的作用。鉴于人工智能和消费电子在管理文献中的重要性与日俱增,我们的论文试图整合这两种不同的文献流。从现有研究出发,本文试图提供一个框架,以了解人工智能技术在提升企业竞争力方面的作用。通过使用《系统性综述和元分析首选报告项目》(Preferred Reporting Items for Systematic Review and Meta-Analysis protocol)进行系统性文献综述,并在三个数据库中使用关键词进行研究,我们确定了 63 篇同时涉及行政首长和人工智能主题的文章。随后的共现分析和内容分析揭示了如何利用人工智能来加强 CE 的工作,利用 ReSOLVE 框架(Regenerate、Share、Optimise、Loop、Virtualise 和 Exchange 的首字母缩写)--一种 CE 的操作工具。最后一步是制定一个概念框架,概述人工智能参与行政首长协调会的四个阶段:即系统优化、系统重新设计、商业模式重新设计和生态系统创新。从我们的研究中可以看出,虽然人工智能在加强行政首长协调会内部的特定活动方面已得到认可,但其作为商业模式重新设计和生态系统创新的战略规划工具的潜力在很大程度上仍未得到开发。
{"title":"A conceptual model of artificial intelligence effects on circular economy actions","authors":"Ilaria Tutore, Adele Parmentola, Michele Costagliola di Fiore, Francesco Calza","doi":"10.1002/csr.2827","DOIUrl":"10.1002/csr.2827","url":null,"abstract":"<p>The circular economy (CE) presents a contemporary approach to integrating economic activity and environmental well-being sustainably, opposing the linear open-ended system. However, implementing this paradigm poses challenges, needing a fundamental shift in companies' strategies and business models. Emerging technology can support companies in transition toward CE and in particular artificial intelligence (AI) can play a crucial role in facilitating this transition by supporting companies not only in specific CE activities but also in strategically redefining their entire business models. Recognizing the increasing importance of both AI and CE in management literature, our paper seeks to integrate these two distinct streams of literature. Starting from existing studies, it tries to provide a framework able to understand the role of AI technology into enhancing CE. Through a systematic literature review using the Preferred Reporting Items for Systematic Review and Meta-Analysis protocol, using keywords research on three databases, we identified 63 articles that concurrently address both CE and AI topics. Subsequent co-occurrence and content analyses revealed how AI is utilized to bolster CE efforts leveraging the ReSOLVE framework (from the acronymous of Regenerate, Share, Optimise, Loop, Virtualise, and Exchange)—an operational tool for CE. The last step consists into the development of a conceptual framework outlining four stages of AI's engagement with the CE: namely System optimization, System redesign, Business Model redesign, and Ecosystem innovation. From our study emerges that while AI is already recognized for enhancing specific activities within CE, its potential as a strategic planning tool for business model redesign and ecosystem innovation remains largely unexplored.</p>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140842436","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The study builds and extends on the literature on the environment, corporate governance, and sustainability by examining how board attributes impact environmental sustainability disclosure (ESD) and, if so, whether each of the two strands of board attributes, namely, board diversity and structural attributes, influence ESD for manufacturing firms in the sub-Saharan Africa (SSA) region. Based on insights drawn from the human capital theory and board composition, the study developed a model that connects board attributes with ESD. Using a sample of 200 manufacturing firms from 2010 to 2022, the study found an inverse link between gender diversity and ESD, whereas a positive connection was seen between foreign nationals and ESD. Regarding structural attributes, an inverse link was found between board size and ESD, while a positive connection exists between the separation of the board chair from the chief executive officer and ESD. In summary, the findings urge policymakers in the SSA region to strengthen policies on board diversity and structural attributes to promote ESD. Moreover, the findings advise the board of directors to ensure effective and transparent disclosure of environmental-related issues to stakeholders to guarantee sustainable reporting practices.
{"title":"Do board attributes influence environmental sustainability disclosure in manufacturing firms? Evidence from sub-Saharan Africa","authors":"Naiping Zhu, Abednego Osei, Andrew Osei Agyemang","doi":"10.1002/csr.2822","DOIUrl":"10.1002/csr.2822","url":null,"abstract":"<p>The study builds and extends on the literature on the environment, corporate governance, and sustainability by examining how board attributes impact environmental sustainability disclosure (ESD) and, if so, whether each of the two strands of board attributes, namely, board diversity and structural attributes, influence ESD for manufacturing firms in the sub-Saharan Africa (SSA) region. Based on insights drawn from the human capital theory and board composition, the study developed a model that connects board attributes with ESD. Using a sample of 200 manufacturing firms from 2010 to 2022, the study found an inverse link between gender diversity and ESD, whereas a positive connection was seen between foreign nationals and ESD. Regarding structural attributes, an inverse link was found between board size and ESD, while a positive connection exists between the separation of the board chair from the chief executive officer and ESD. In summary, the findings urge policymakers in the SSA region to strengthen policies on board diversity and structural attributes to promote ESD. Moreover, the findings advise the board of directors to ensure effective and transparent disclosure of environmental-related issues to stakeholders to guarantee sustainable reporting practices.</p>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140841005","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Against the backdrop of driving global economic sustainability, corporate Environmental, Social, and Governance (ESG) performance has gradually emerged as a crucial theoretical and practical concern. This study aims to enrich the theoretical understanding of the correlation between corporate governance and ESG. Notably, the theoretical contribution is based on the relational contract theory, indicating the significance of the informal structure and implicit characteristics of the board of directors for corporate ESG performance. Using Chinese listed firms as samples, this study empirically examines and reveals a positive correlation between the informal board hierarchy and corporate ESG performance. Moreover, based on theoretical deduction, this study identifies internal control, innovation efficiency, and financial performance as important mechanisms through which the informal board hierarchy promotes corporate ESG performance. Further analysis indicates that in firms characterized by higher board interaction, lower shareholding concentration, and the combination of the roles of chairman and CEO, the promoting effect of the informal hierarchy on corporate ESG becomes significantly more pronounced. Our findings contribute to the understanding of relational contract theory in the field of corporate sustainability, enriching the literature on corporate governance and ESG, and providing decision-making references and practical insights for optimizing corporate development.
{"title":"Informal board hierarchy and corporate ESG performance","authors":"Cheng Peng, Yuansheng Chen","doi":"10.1002/csr.2834","DOIUrl":"10.1002/csr.2834","url":null,"abstract":"<p>Against the backdrop of driving global economic sustainability, corporate Environmental, Social, and Governance (ESG) performance has gradually emerged as a crucial theoretical and practical concern. This study aims to enrich the theoretical understanding of the correlation between corporate governance and ESG. Notably, the theoretical contribution is based on the relational contract theory, indicating the significance of the informal structure and implicit characteristics of the board of directors for corporate ESG performance. Using Chinese listed firms as samples, this study empirically examines and reveals a positive correlation between the informal board hierarchy and corporate ESG performance. Moreover, based on theoretical deduction, this study identifies internal control, innovation efficiency, and financial performance as important mechanisms through which the informal board hierarchy promotes corporate ESG performance. Further analysis indicates that in firms characterized by higher board interaction, lower shareholding concentration, and the combination of the roles of chairman and CEO, the promoting effect of the informal hierarchy on corporate ESG becomes significantly more pronounced. Our findings contribute to the understanding of relational contract theory in the field of corporate sustainability, enriching the literature on corporate governance and ESG, and providing decision-making references and practical insights for optimizing corporate development.</p>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141052017","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper provides fresh insights into the impact of corporate governance mechanisms on environmental, social and governance (ESG) disclosure practices of state-owned enterprises (SOEs). To accomplish this study's research objective, we collected ESG and corporate governance data from Refinitiv Eikon's database on a balanced sample of 253 SOEs from 37 worldwide countries over 5 years (2018–2022), obtaining a total of 1265 observations. A battery of fixed and random effects panel regression models has been estimated to test the impact of board characteristics, like board size, board independence, board gender diversity, number of board meetings, Chief Executive Officer (CEO) duality and the presence of a corporate social responsibility (CSR) committee, on overall and individual ESG disclosure scores of sampled SOEs. Results show that while board size and CEO duality negatively affect SOE ESG disclosure, board independence and gender diversity, as well as the number of board meetings and the existence of a CSR committee, exert a positive influence.
{"title":"Does corporate governance influence environmental, social and governance disclosure practices of state-owned enterprises? An international study","authors":"Giuseppe Nicolo', Francisco Javier Andrades-Peña","doi":"10.1002/csr.2824","DOIUrl":"10.1002/csr.2824","url":null,"abstract":"<p>This paper provides fresh insights into the impact of corporate governance mechanisms on environmental, social and governance (ESG) disclosure practices of state-owned enterprises (SOEs). To accomplish this study's research objective, we collected ESG and corporate governance data from Refinitiv Eikon's database on a balanced sample of 253 SOEs from 37 worldwide countries over 5 years (2018–2022), obtaining a total of 1265 observations. A battery of fixed and random effects panel regression models has been estimated to test the impact of board characteristics, like board size, board independence, board gender diversity, number of board meetings, Chief Executive Officer (CEO) duality and the presence of a corporate social responsibility (CSR) committee, on overall and individual ESG disclosure scores of sampled SOEs. Results show that while board size and CEO duality negatively affect SOE ESG disclosure, board independence and gender diversity, as well as the number of board meetings and the existence of a CSR committee, exert a positive influence.</p>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-04-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140841013","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Francesco Martielli, Antonio Salvi, Emanuele Doronzo
In the current business setting, companies must adopt new practices to remain competitive due to complex products, changing market demands, and stakeholder pressures. Many successful businesses are turning to sustainability-oriented innovations as a means of both increasing their growth potential and engaging in corporate social responsibility practices. This approach benefits both the company and society. However, the full potential of implementing sustainability practices through open innovation has yet to be fully explored, and the impact on firm value is unclear. Additionally, there is currently a lack of international standards for representing sustainability as an open innovation approach. This study aims to shed light on the potential benefits of adopting sustainable practices through the open innovation approach. We highlight the value that sustainable innovation can create and analyze a sample of European-listed companies from the STOXX Europe 600 Index from 2011 to 2020. Our findings show that the ESG score best represents sustainability as an open innovation approach. Moreover, we demonstrate that adopting sustainability as an open innovation approach practice positively impacts firm value. This suggests that companies can enhance their value and promote sustainable innovation success by embracing this approach. Overall, this paper contributes to the literature on sustainability and open innovation, specifically within the legitimacy theory framework. It emphasizes that stakeholder pressure to build a more sustainable and ethical economic system presents a challenge that can also be an opportunity for companies.
{"title":"Corporate social responsibility practices and value creation through open innovation approach: Evidence from the STOXX Europe 600 Index","authors":"Francesco Martielli, Antonio Salvi, Emanuele Doronzo","doi":"10.1002/csr.2828","DOIUrl":"10.1002/csr.2828","url":null,"abstract":"<p>In the current business setting, companies must adopt new practices to remain competitive due to complex products, changing market demands, and stakeholder pressures. Many successful businesses are turning to sustainability-oriented innovations as a means of both increasing their growth potential and engaging in corporate social responsibility practices. This approach benefits both the company and society. However, the full potential of implementing sustainability practices through open innovation has yet to be fully explored, and the impact on firm value is unclear. Additionally, there is currently a lack of international standards for representing sustainability as an open innovation approach. This study aims to shed light on the potential benefits of adopting sustainable practices through the open innovation approach. We highlight the value that sustainable innovation can create and analyze a sample of European-listed companies from the STOXX Europe 600 Index from 2011 to 2020. Our findings show that the ESG score best represents sustainability as an open innovation approach. Moreover, we demonstrate that adopting sustainability as an open innovation approach practice positively impacts firm value. This suggests that companies can enhance their value and promote sustainable innovation success by embracing this approach. Overall, this paper contributes to the literature on sustainability and open innovation, specifically within the legitimacy theory framework. It emphasizes that stakeholder pressure to build a more sustainable and ethical economic system presents a challenge that can also be an opportunity for companies.</p>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-04-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140841012","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The corporate sector strives to improve its environmental, social, and governance (ESG) performance to transition from short-term to sustainable long-term profit maximisation. This study thus explores the impact of ESG performance on the financial sustainability (FS) of a sample of the top 100 global high-tech firms. Specifically, we employ the two-step generalised method of moments to control for endogeneity bias and a panel data fixed effects model to control for unobserved heterogeneity. Empirical findings reveal that overall ESG performance has a statistically negative association with the FS of global high-tech firms. Individual pillar-wise analysis reveals that the environmental and social (governance) pillar has a negative (positive) association with the FS of the sampled firms. This result proves that each ESG pillar exerts varying effects on corporate performance indicators. Overall, the results provide empirical evidence that could help policymakers devise policies for investing optimally in ESG indicators to spur corporate FS.
{"title":"Environmental, social, and governance performance as an influencing factor of financial sustainability: Evidence from the global high-tech sector","authors":"Marina Nazir, Minhas Akbar, Xiaohong Yu, Ammar Hussain, Libuše Svobodová","doi":"10.1002/csr.2831","DOIUrl":"10.1002/csr.2831","url":null,"abstract":"<p>The corporate sector strives to improve its environmental, social, and governance (ESG) performance to transition from short-term to sustainable long-term profit maximisation. This study thus explores the impact of ESG performance on the financial sustainability (FS) of a sample of the top 100 global high-tech firms. Specifically, we employ the two-step generalised method of moments to control for endogeneity bias and a panel data fixed effects model to control for unobserved heterogeneity. Empirical findings reveal that overall ESG performance has a statistically negative association with the FS of global high-tech firms. Individual pillar-wise analysis reveals that the environmental and social (governance) pillar has a negative (positive) association with the FS of the sampled firms. This result proves that each ESG pillar exerts varying effects on corporate performance indicators. Overall, the results provide empirical evidence that could help policymakers devise policies for investing optimally in ESG indicators to spur corporate FS.</p>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-04-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140841230","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The prevailing environmental, social and governance (ESG) framework is currently based on micro-ESG indicators. Research on national ESG is often limited to theory building and policy analysis. Based on previous scholars, this paper constructs a national ESG index framework consisting of 39 indices and updates the national ESG indices for 121 countries worldwide from 1990 to 2021 using the entropy weight method, aiming to provide a set of instrumental indices that capture the status and evolution of national ESG performance. The research findings are as follows: First, the Gini coefficient shows that the gap between national ESG performance has gradually widened over time. Second, the kernel density distribution suggests that global ESG performance is on the rise. High-income countries are placing greater emphasis on ESG growth. Third, the results of the Markov transformation matrix suggest that there is a “club convergence” in ESG performance across countries.
{"title":"CSR from different perspectives: The global ESG indexes updated","authors":"Ping-Chuan Jiang, Gen-Fu Feng, Hai-Jie Wang, Chun-Ping Chang","doi":"10.1002/csr.2814","DOIUrl":"10.1002/csr.2814","url":null,"abstract":"<p>The prevailing environmental, social and governance (ESG) framework is currently based on micro-ESG indicators. Research on national ESG is often limited to theory building and policy analysis. Based on previous scholars, this paper constructs a national ESG index framework consisting of 39 indices and updates the national ESG indices for 121 countries worldwide from 1990 to 2021 using the entropy weight method, aiming to provide a set of instrumental indices that capture the status and evolution of national ESG performance. The research findings are as follows: First, the Gini coefficient shows that the gap between national ESG performance has gradually widened over time. Second, the kernel density distribution suggests that global ESG performance is on the rise. High-income countries are placing greater emphasis on ESG growth. Third, the results of the Markov transformation matrix suggest that there is a “club convergence” in ESG performance across countries.</p>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-04-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140841408","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}