2023
DOI: 10.1177/00076503231182688
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ESG Leaders or Laggards? A Configurational Analysis of ESG Performance

Abstract: We draw from resource dependence and institutional theories to explore how board characteristics associated with directors’ capacities to provide resources and legitimacy (i.e., board size, the number of non-executive, interlocking, and female directors) along with regulative, normative, and cultural-cognitive institutional conditions combine to shape firm environmental, social, and governance (ESG) performance. Using a process of configurational theorizing with fuzzy set qualitative comparative analysis and d… Show more

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Cited by 8 publications
(3 citation statements)
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“…The total number of board meetings, firm size, leverage, board independent) to check the magnitude of impact on ESG REPORTING. Numerous studies have used these variables for firm performance, among them, (Arayssi & Jizi, 2023;Bilyay-Erdogan & Öztürkkal, 2023;Lewellyn & Muller-Kahle, 2023;Lin et al, 2023;Rahman et al, 2023;Rauf et al, 2021;. Finally, we incorporated year dummies to control for the possible influence of time, as well as industry dummies to account for the unique effect of industry.…”
Section: Control Variablesmentioning
confidence: 99%
“…The total number of board meetings, firm size, leverage, board independent) to check the magnitude of impact on ESG REPORTING. Numerous studies have used these variables for firm performance, among them, (Arayssi & Jizi, 2023;Bilyay-Erdogan & Öztürkkal, 2023;Lewellyn & Muller-Kahle, 2023;Lin et al, 2023;Rahman et al, 2023;Rauf et al, 2021;. Finally, we incorporated year dummies to control for the possible influence of time, as well as industry dummies to account for the unique effect of industry.…”
Section: Control Variablesmentioning
confidence: 99%
“…The relationship between institutional theory and the board of directors is in the importance of corporate governance practices, decision-making processes, and the organizational behavior developed by firms (De Villiers and Alexander 2014). From a sociological perspective, the contribution that institutional theory makes is that it provides the tools to examine how forms and individuals establish social norms, values, and institutional rules (Lewellyn and Muller-Kahle 2023). From the information above, it can be derived that organizations adopt certain practices and structures not only for efficiency, but also to achieve their objectives through legitimizing and accepting stakeholders, such as investors, customers, regulators, and society.…”
Section: Theoretical Frameworkmentioning
confidence: 99%
“…At the governance level, this paper selected three indicators: board size (BS), corporate market competitiveness (Lerner) and R&D investment (RDR). Among them, board size refers to the number of corporate board members [42]. Enterprise market competitiveness is measured by the Lerner index.…”
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confidence: 99%