ESG and Firm Performance: A Configuration Perspective
ESGと企業パフォーマンス：コンフィギュレーションの視点 (AI 翻訳)
Gang Ren, Peishu Peng, Yan Li
🤖 gxceed AI 要約
日本語
本研究は、リソースベースビューに基づき、定性比較分析（QCA）と機械学習を用いてESGと企業パフォーマンスの関係を分析。高いESGスコアは、独立取締役や研究開発投資と組み合わせることで高いパフォーマンスにつながることを発見。特に社会的・ガバナンス次元が重要であり、グリーンイノベーションの高い企業や競争の弱いセクターで効果が顕著。カーボン排出権取引制度がない地域でより関連性が高い。
English
Applying qualitative comparative analysis and machine learning, this study examines the ESG-performance link from a resource-based view. Results show high ESG performance combined with high independent directors and R&D investment enhances firm performance. Social and governance dimensions are key. The positive effect is stronger for firms with superior green innovation, in less competitive sectors, and in regions without carbon emissions trading schemes.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
日本のGX文脈では、ESGと企業パフォーマンスの関係をコンフィギュレーション視点から捉える本論文は、SSBJ開示基準への対応や投資家対応において、ESG要素の相互作用を考慮する重要性を示唆する。特に、独立取締役や研究開発との補完関係は、日本企業のガバナンス改革やイノベーション投資の方向性に示唆を与える。
In the global GX context
This paper advances the global ESG-performance literature by moving beyond net effects to a configurational approach, revealing complementarities between ESG and financial factors. Its heterogeneity findings—especially concerning carbon trading schemes—offer policy insights for regions implementing carbon pricing.
👥 読者別の含意
🔬研究者:Highlights the need to study ESG as a configuration rather than isolated dimensions.
🏢実務担当者:Sustainability teams should integrate ESG with governance and R&D for optimal performance.
🏛政策担当者:Carbon emissions trading may alter the ESG-performance relationship, relevant for policy design.
📄 Abstract（原文）
As global concerns over environmental protection and carbon reduction intensify, firms face growing pressure to improve environmental, social, and governance (ESG) performance to maintain legitimacy. Although the ESG‐performance relationship has been widely studied, prior work has focused on net effects, overlooking its resource interdependencies. Drawing on the resource‐based view (RBV), this study applies qualitative comparative analysis (QCA) and constructs ESG scores using machine learning techniques. The results show that high ESG is associated with high firm performance, particularly when coupled with high independent directors and R&D investment. Notably, we identify a complementary relationship between ESG and sales growth, underscoring the interdependence of financial and non‐financial reputations. Pillar‐level analyses underscore the predominant roles of the social and governance dimensions in influencing performance. Finally, heterogeneity analyses further demonstrate that the positive ESG‐performance association occurs more in firms with superior green innovation, companies in sectors with lower market competition, and those in regions without the Carbon Emissions Trading Scheme. Our findings help reconcile previous conflicting findings and provide valuable guidance for sustainable practices.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.1111/beer.70099first seen 2026-05-15 17:37:00
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