The Impact Path of Executive Team Heterogeneity and Environmental-Social-Governance on Corporate Performance

Abstract

Taking pharmaceutical manufacturing companies listed in Shanghai and Shenzhen A-share in 2021 as a sample, this paper explores the synergistic effects and driven paths of ESG and five dimensions of executive team heterogeneity on corporate performance by applying fuzzy-set Qualitative Comparative Analysis (fsQCA). This paper finds that: 1) A single factor is not necessary to drive corporate performance, and there is asymmetry in the impact of each antecedent condition on corporate performance; 2) There are three driven paths for high corporate performance: ESG-driven path, social interaction-driven path, and team conflict-driven path.