{"title":"解读企业可持续发展的复杂性:绿色创新在风险管理和绩效中的中介作用","authors":"Munther Al-Nimer","doi":"10.3390/ijfs12030078","DOIUrl":null,"url":null,"abstract":"This study investigates the relationships among corporate sustainability development (CSD), enterprise risk management performance (ERMP), and green innovation (GI) in the Jordanian manufacturing firms. The empirical data of 97 companies listed on the Amman Stock Exchange were gathered in a time span of three months (i.e., January 2024 to March 2024). A structural equation modeling was employed to examine these complex dynamics. The findings reveal that CSD is negatively associated with both ERMP and enterprise sustainable performance in the short term, challenging conventional wisdom. However, CSD strongly promotes GI, which in turn positively influences ERMP while negatively affecting short-term performance. GI acts as a significant mediator, positively mediating the CSD–ERMP relationship and negatively mediating the CSD–performance link. These results extend the sustainability paradox concept to emerging economies and highlight the critical role of GI in balancing sustainability initiatives with risk management and performance outcomes. The study suggests that firms may experience initial disruptions when implementing sustainability practices, but these initiatives can drive innovation within organizations. Based on these findings, this study recommends that managers in emerging economies adopt a long-term perspective when implementing sustainability initiatives and develop more flexible risk management systems. Policymakers should consider supportive frameworks to help firms navigate the tensions between sustainability, innovation, and short-term performance. Future research should employ longitudinal designs to capture the dynamic nature of these relationships and explore potential moderating factors such as firm size or industry-specific characteristics.","PeriodicalId":45794,"journal":{"name":"International Journal of Financial Studies","volume":null,"pages":null},"PeriodicalIF":2.1000,"publicationDate":"2024-08-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Unpacking the Complexity of Corporate Sustainability: Green Innovation’s Mediating Role in Risk Management and Performance\",\"authors\":\"Munther Al-Nimer\",\"doi\":\"10.3390/ijfs12030078\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This study investigates the relationships among corporate sustainability development (CSD), enterprise risk management performance (ERMP), and green innovation (GI) in the Jordanian manufacturing firms. The empirical data of 97 companies listed on the Amman Stock Exchange were gathered in a time span of three months (i.e., January 2024 to March 2024). A structural equation modeling was employed to examine these complex dynamics. The findings reveal that CSD is negatively associated with both ERMP and enterprise sustainable performance in the short term, challenging conventional wisdom. However, CSD strongly promotes GI, which in turn positively influences ERMP while negatively affecting short-term performance. GI acts as a significant mediator, positively mediating the CSD–ERMP relationship and negatively mediating the CSD–performance link. These results extend the sustainability paradox concept to emerging economies and highlight the critical role of GI in balancing sustainability initiatives with risk management and performance outcomes. 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引用次数: 0
摘要
本研究调查了约旦制造业企业的企业可持续发展(CSD)、企业风险管理绩效(ERMP)和绿色创新(GI)之间的关系。研究收集了在安曼证券交易所上市的 97 家公司的经验数据,时间跨度为三个月(即 2024 年 1 月至 2024 年 3 月)。研究采用了结构方程模型来考察这些复杂的动态变化。研究结果表明,短期内,CSD 与 ERMP 和企业可持续绩效呈负相关,这挑战了传统观点。然而,CSD 对 GI 有很大的促进作用,而 GI 又对 ERMP 产生积极影响,同时对短期绩效产生消极影响。GI 起着重要的中介作用,对 CSD 与 ERMP 的关系起着积极的中介作用,对 CSD 与绩效的关系起着消极的中介作用。这些结果将可持续发展悖论的概念延伸到了新兴经济体,并强调了 GI 在平衡可持续发展举措与风险管理和绩效结果方面的关键作用。研究表明,企业在实施可持续发展实践时,最初可能会遇到干扰,但这些举措可以推动组织内部的创新。基于这些研究结果,本研究建议新兴经济体的管理者在实施可持续发展措施时要有长远眼光,并开发更灵活的风险管理系统。政策制定者应考虑支持性框架,以帮助企业驾驭可持续发展、创新和短期绩效之间的矛盾。未来的研究应采用纵向设计,以捕捉这些关系的动态性质,并探索潜在的调节因素,如企业规模或特定行业特征。
Unpacking the Complexity of Corporate Sustainability: Green Innovation’s Mediating Role in Risk Management and Performance
This study investigates the relationships among corporate sustainability development (CSD), enterprise risk management performance (ERMP), and green innovation (GI) in the Jordanian manufacturing firms. The empirical data of 97 companies listed on the Amman Stock Exchange were gathered in a time span of three months (i.e., January 2024 to March 2024). A structural equation modeling was employed to examine these complex dynamics. The findings reveal that CSD is negatively associated with both ERMP and enterprise sustainable performance in the short term, challenging conventional wisdom. However, CSD strongly promotes GI, which in turn positively influences ERMP while negatively affecting short-term performance. GI acts as a significant mediator, positively mediating the CSD–ERMP relationship and negatively mediating the CSD–performance link. These results extend the sustainability paradox concept to emerging economies and highlight the critical role of GI in balancing sustainability initiatives with risk management and performance outcomes. The study suggests that firms may experience initial disruptions when implementing sustainability practices, but these initiatives can drive innovation within organizations. Based on these findings, this study recommends that managers in emerging economies adopt a long-term perspective when implementing sustainability initiatives and develop more flexible risk management systems. Policymakers should consider supportive frameworks to help firms navigate the tensions between sustainability, innovation, and short-term performance. Future research should employ longitudinal designs to capture the dynamic nature of these relationships and explore potential moderating factors such as firm size or industry-specific characteristics.