Open innovation, enterprise value and the mediating effect of ESG

Luan, Xiangyu; Wang, Xiaohong

doi:10.1108/bpmj-07-2022-0310

Cited by 13 publications

(6 citation statements)

References 60 publications

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“…Academic attention to the adoption and adherence to sustainability/SDG goals and strategies in Asian contexts has been increasing. Scholars have started to look at the role of investor commitment (Liu et al , 2023), corporate reputation (Dash and Sandeep, 2023) and open innovation and entrepreneurial practices (Luan and Xiao, 2023) on CSR-led competitiveness and sustainability performance of firms. However, significant attention is required on this front to help societies and firms address one of the most important challenges posed to mankind in the form of climate change.…”

Section: Resultsmentioning

confidence: 99%

A corporate social responsibility (CSR)-led competitiveness framework through a bibliometric analysis (2001–2023)

Kumar,

Snehvrat,

Kumari

et al. 2024

JABS

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Purpose Corporate social responsibility (CSR) is viewed as a differentiating strategy that wins over stakeholders’ confidence. Due to the potential strategic and positive effects on businesses, the study of CSR and its relationship to competitiveness has gained relevance. While studies have examined the impact of CSR activities on firm competitiveness, the findings so far remain contradictory. Further research on the underlying processes/mechanisms that explain how CSR contributes to competitiveness remains scarce. Accordingly, this study aims to look into the link between CSR and competitiveness with a focus on Asian business and management studies. Design/methodology/approach By using a bibliometric approach, this paper aims to provide a review of the state-of-the-art research on the linkage between CSR and competitiveness in Asian context. The sample for this research included all 538 studies from the period of 2001–2023 in the Scopus database. A bibliometric study included both co-occurrence and co-citation analysis. Findings The study’s findings made significant contributions by identifying seven distinct clusters of co-occurrences. Using co-citation, three journals-based co-citation clusters and another three authors-based co-citation clusters are identified. The findings show how processes/mechanisms such as – accountability, multi-stakeholder dialogue/engagement, resource generation, emphasizing sustainable development goals and emerging markets, redefining strategy, cultivating value/vision and CSR leadership – are increasing in importance. Practical implications Overall, the authors argue that CSR-led competitiveness is indeed one of the key drivers for improved sustainability performance of a firm. Originality/value Based on findings, a conceptual framework has been proposed highlighting different processes and mechanisms that influence the CSR-led competitiveness – outcomes relationship.

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Section: Resultsmentioning

confidence: 99%

A corporate social responsibility (CSR)-led competitiveness framework through a bibliometric analysis (2001–2023)

Kumar,

Snehvrat,

Kumari

et al. 2024

JABS

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“…On the contrary, Ref. [28] found no connection between environmental performance and corporate profitability, indicating that environmental performance may not always result in better financial results.…”

Section: Empirical Review and Hypotheses Developmentmentioning

confidence: 97%

The Moderating Role of Technological Innovation on Environment, Social, and Governance (ESG) Performance and Firm Value: Evidence from Developing and Least-Developed Countries

Kong,

Agyemang,

Alessa

et al. 2023

Sustainability

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Recently, there has been growing recognition of the significance of environmental, social, and governance (ESG) factors in assessing a company’s performance and worth. Previous research has failed to take into account the significant impact of technological innovation in their empirical investigations. This study fills the gap by investigating the moderating impact of technological innovation on ESG performance and company value in developing and least-developed countries. The study utilized secondary data from 78 pharmaceutical companies from 2009 to 2022. For the investigation, we used the pooled mean group (PMG) and generalized methods of moments (GMM) estimators. The findings reveal that environmental and social performance influence firms’ value; however, governance performance does not influence firms’ value. Additionally, technological innovation acts as a catalyst, strengthening the favorable influence of ESG performance on firm value. The findings affirm the need to incorporate technological innovation, as it enables pharmaceutical firms to implement more efficient and sustainable practices.

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“…Huh et al (2022) [101] examined the structural relationship between ESG management, corporate reputation, and financial performance and found that all components of ESG management had a significant and positive impact on corporate reputation. Luan and Wang (2023) [102] However, Almulhim and Aljughaiman (2023) [104] revealed that firms with more ESG activities tend to have negative financial performance. In Yang et al [105], among ESG activity variables, only governance was found to have a significant negative impact on financial performance, and environmental and social variables were found to have no significant impact on financial or non-financial performance.…”

Section: Esg Managementmentioning

confidence: 99%

Analyzing Factors That Affect Korean B2B Companies’ Sustainable Performance

Lee,

Kim

2024

Sustainability

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This study empirically examines factors that can influence the sustainable corporate performance of Korean business-to-business (B2B) companies with the help of unique survey data. Factors such as technological capability, the chief executive officer (CEO)’s risk-taking propensity, B2B seller skill, and key account management (KAM) are analyzed to clarify their impact on sustainable financial and non-financial performance. In particular, given that environment, society, and governance (ESG) reporting has recently been widely recognized as an important evaluation factor for companies, we look at the mediating effects of ESG management on sustainable business performance. The results show that the CEO’s risk-taking propensity and B2B seller skill significantly impact the company’s sustainable financial performance, while technological capability and the CEO’s risk-taking propensity significantly impact sustainable non-financial performance. The fact that a CEO’s risk-taking propensity affects both sustainable financial and non-financial performance indicates the importance of entrepreneurial competency in the sustainability of the company. Furthermore, the findings reveal that ESG management plays a crucial role in sustainable corporate performance. The mediating role of ESG management allows technological capability, B2B seller skill, and KAM to influence sustainable financial performance significantly. Likewise, all of the explanatory factors contribute to the company’s sustainable non-financial performance through ESG management. The findings are important for both practitioners and scholars because they emphasize the need to establish an optimal ESG management strategy for corporate survival and sustainability. Furthermore, this study underscores that ESG management should be implemented by all organizational members, from CEOs to employees. Future research will include more comprehensive samples and analyze various strategic factors not covered in this study to derive effective ways by which companies can increase their performance and sustainability. We will also explore the factors that contribute to good ESG management practices.

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Open innovation, enterprise value and the mediating effect of ESG

Cited by 13 publications

References 60 publications

A corporate social responsibility (CSR)-led competitiveness framework through a bibliometric analysis (2001–2023)

A corporate social responsibility (CSR)-led competitiveness framework through a bibliometric analysis (2001–2023)

The Moderating Role of Technological Innovation on Environment, Social, and Governance (ESG) Performance and Firm Value: Evidence from Developing and Least-Developed Countries

Analyzing Factors That Affect Korean B2B Companies’ Sustainable Performance

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