Sustainable wins: Exploring the nexus of Environmental, Social and Governance investment and firm efficiency in the gambling industry moderated by business strategy type

IF 8.3 2区管理学 Q1 BUSINESS

Corporate Social Responsibility and Environmental Management Pub Date : 2024-09-04 DOI:10.1002/csr.2952

Chia‐Yang Chang, Wen‐Min Lu, Irene Wei Kiong Ting, Day‐Yang Liu, Joseph C. P. Shieh

{"title":"Sustainable wins: Exploring the nexus of Environmental, Social and Governance investment and firm efficiency in the gambling industry moderated by business strategy type","authors":"Chia‐Yang Chang, Wen‐Min Lu, Irene Wei Kiong Ting, Day‐Yang Liu, Joseph C. P. Shieh","doi":"10.1002/csr.2952","DOIUrl":null,"url":null,"abstract":"This study investigates the moderating influence of the business strategy type on the correlation between environmental, social and governance (ESG) investment and efficiency in the gambling industry. By employing the range directional measure–network data envelopment analysis model, this study focuses on a sample of 29 gambling firms in North America, Europe, Asia and Oceania for the period of 2019–2022. Findings show that (i) the gambling industry demonstrates steadily increasing trends in the three ESG pillars; (ii) the gambling firms in Asia outperform their counterparts in North America across the three ESG pillars, and among the industry classifications, the betting operators lead in performance in the ESG pillars; and (iii) the adoption of an aggressive business strategy will enhance the translation of social responsibility investment and governance practices into heightened sustainability efficiency and marketability efficiency, respectively. Overall, this study enriches the ESG investment literature by exploring the moderating role of the business strategy type and provides insights into how diverse business strategies within the gambling industry can shape the outcomes of ESG initiatives. The implications of the findings extend to management teams and offer valuable insights into the interplay between the business strategy type and the ESG–firm efficiency nexus. Policymakers can leverage the results to design regulations and incentives that align with the different strategic profiles adopted by gambling firms to foster the creation of tailored and effective approaches for strengthening their sustainability in the industry.","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":"74 1","pages":""},"PeriodicalIF":8.3000,"publicationDate":"2024-09-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Corporate Social Responsibility and Environmental Management","FirstCategoryId":"91","ListUrlMain":"https://doi.org/10.1002/csr.2952","RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}

引用次数: 0

Abstract

This study investigates the moderating influence of the business strategy type on the correlation between environmental, social and governance (ESG) investment and efficiency in the gambling industry. By employing the range directional measure–network data envelopment analysis model, this study focuses on a sample of 29 gambling firms in North America, Europe, Asia and Oceania for the period of 2019–2022. Findings show that (i) the gambling industry demonstrates steadily increasing trends in the three ESG pillars; (ii) the gambling firms in Asia outperform their counterparts in North America across the three ESG pillars, and among the industry classifications, the betting operators lead in performance in the ESG pillars; and (iii) the adoption of an aggressive business strategy will enhance the translation of social responsibility investment and governance practices into heightened sustainability efficiency and marketability efficiency, respectively. Overall, this study enriches the ESG investment literature by exploring the moderating role of the business strategy type and provides insights into how diverse business strategies within the gambling industry can shape the outcomes of ESG initiatives. The implications of the findings extend to management teams and offer valuable insights into the interplay between the business strategy type and the ESG–firm efficiency nexus. Policymakers can leverage the results to design regulations and incentives that align with the different strategic profiles adopted by gambling firms to foster the creation of tailored and effective approaches for strengthening their sustainability in the industry.

查看原文本刊更多论文

可持续的胜利：探索博彩业环境、社会和治理投资与企业效率之间的关系，以企业战略类型为调节器

本研究探讨了企业战略类型对博彩业环境、社会和治理（ESG）投资与效率之间相关性的调节作用。通过采用范围定向测量-网络数据包络分析模型，本研究以2019-2022年期间北美、欧洲、亚洲和大洋洲的29家博彩公司为样本。研究结果表明：(i) 博彩业在三个ESG支柱方面呈现出稳步增长的趋势；(ii) 亚洲博彩公司在三个ESG支柱方面的表现优于北美博彩公司，在行业分类中，博彩运营商在ESG支柱方面的表现领先；(iii) 采用积极的商业战略将促进社会责任投资和治理实践分别转化为更高的可持续性效率和市场化效率。总之，本研究通过探索商业战略类型的调节作用，丰富了环境、社会和公司治理投资的文献，并深入探讨了博彩业内不同的商业战略如何影响环境、社会和公司治理举措的结果。研究结果的影响延伸到管理团队，并为商业战略类型与环境、社会和公司治理效率之间的相互作用提供了宝贵的见解。政策制定者可以利用这些结果来设计与博彩公司所采取的不同战略相适应的法规和激励措施，以促进制定量身定制的有效方法，加强博彩业的可持续发展。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Corporate Social Responsibility and Environmental Management Multiple-

CiteScore

17.20

自引率

16.30%

发文量

189

期刊介绍： Corporate Social Responsibility and Environmental Management is a journal that publishes both theoretical and practical contributions related to the social and environmental responsibilities of businesses in the context of sustainable development. It covers a wide range of topics, including tools and practices associated with these responsibilities, case studies, and cross-country surveys of best practices. The journal aims to help organizations improve their performance and accountability in these areas. The main focus of the journal is on research and practical advice for the development and assessment of social responsibility and environmental tools. It also features practical case studies and evaluates the strengths and weaknesses of different approaches to sustainability. The journal encourages the discussion and debate of sustainability issues and closely monitors the demands of various stakeholder groups. Corporate Social Responsibility and Environmental Management is a refereed journal, meaning that all contributions undergo a rigorous review process. It seeks high-quality contributions that appeal to a diverse audience from various disciplines.