Green Marketing Strategy and Financial Performance of NSE-Listed Companies: A Mixed-Methods Panel Analysis Using the 7Ps Framework (FY2021-2025)
NSE上場企業のグリーンマーケティング戦略と財務業績：7Psフレームワークを用いた混合手法パネル分析（FY2021-2025） (AI 翻訳)
Dr. Ashish Prafulkumar Bhuva Dr. Ashish Prafulkumar Bhuva, Vaidhya Uday Narendrabhai Vaidhya Uday Narendrabhai
🤖 gxceed AI 要約
日本語
本研究は、インドのNSE上場5社（Adani Green Energy、Tata Power、Mahindra & Mahindra、ITC、HUL）を対象に、グリーンマーケティング戦略（GMS）が財務業績に与える影響を7Psフレームワークで分析。パネルデータ（N=25）を用いた回帰分析の結果、GMSはROA、ROE、Tobin's Qに統計的に有意な影響を与えず、グリーンマーケティングの財務リターンにはタイムラグがあることを示唆。
English
This study examines the impact of green marketing strategy (GMS) on financial performance for five NSE-listed Indian companies (Adani Green Energy, Tata Power, M&M, ITC, HUL) using a 7Ps framework. Panel data regression (N=25) finds no statistically significant effect on ROA, ROE, or Tobin's Q, suggesting a gestation lag in financial returns from green marketing.
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
日本企業にとっても、グリーンマーケティングの財務効果には時間がかかるという示唆は参考になる。ただし、サンプルが限定的であり、日本の制度（SSBJなど）との直接的な関連は薄い。
In the global GX context
This paper provides empirical evidence from India's post-SEBI BRSR mandate era, contributing to the global debate on the financial materiality of green marketing. The finding of no short-term financial impact underscores the need for long-term ESG investment perspectives, relevant for investors and firms in emerging and developed markets.
👥 読者別の含意
🔬研究者:Provides a mixed-methods approach and 7Ps GMS index for analyzing green marketing-financial performance linkage in emerging markets.
🏢実務担当者:Suggests that green marketing investments may not yield immediate financial returns; patience and long-term orientation are needed.
📄 Abstract（原文）
This study actually explores how green marketing strategy (GMS), operationalized through the 7Ps framework, impacts financial performance and sustainability practices of five NSE-listed Indian companies in America—Adani Green Energy (AGEL), Tata Power, Mahindra & Mahindra (M&M), ITC Limited, and Hindustan Unilever (HUL)—during FY2021-2025. The study is based on a natural resource-based view (NRBV), stakeholder theory, and signaling theory integrated approach, using a contemporary mixed-methods design. It employs a balanced panel (N = 25 firm-year observations) and measures financial performance through three complementary proxy trackers: Return on Assets (ROA), Return on Equity (ROE), and Tobin's Q. The GMS composite score is prepared from ESG disclosure intensity, green branding, and eco-certification sub-indices. OLS regression, Shapiro-Wilk normality test, Pearson and Spearman correlations, and one-way ANOVA are used. The results show that GMS does not have a statistically significant effect on ROA (Beta = -2.158, p = 0.261), ROE (Beta = -0.518, p = 0.780), and Tobin's Q (Beta = 0.248, p = 0.636); however, the GMS scores continuously increase across all companies (range: 5.60 to 7.78), showing overall financial improvement. These findings are set in the context of India’s post-SEBI BRSR mandate era and provide new evidence of the gestation lag in gaining financial returns from GMS in emerging economies. The study adds useful insights for corporate strategists and institutional investors focused on ESG, using a novel 7Ps GMS index and a sector-diverse Indian panel dataset.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.55041/ijsmt.v2i7.014first seen 2026-07-18 08:14:12
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