Firms' Preferences for Environmental, Social, and Governance Policies: Evidence From Small and Medium Enterprises in Hong Kong

IF 12.5 1区管理学 Q1 BUSINESS

Business Strategy and The Environment Pub Date : 2024-12-15 DOI:10.1002/bse.4100

Wai-Fung Lam, Lin Nie, Edward KF Chan

{"title":"Firms' Preferences for Environmental, Social, and Governance Policies: Evidence From Small and Medium Enterprises in Hong Kong","authors":"Wai-Fung Lam, Lin Nie, Edward KF Chan","doi":"10.1002/bse.4100","DOIUrl":null,"url":null,"abstract":"<div>\n \n <p>Though large corporations have made significant strides in environmental, social, and governance (ESG) integration, small and medium enterprises (SMEs) face challenges due to limited resources and incentives. This study explores the preferences and priorities of SMEs in Hong Kong—a major financial hub with over 340,000 SMEs—regarding ESG policy instruments, addressing a critical gap in current scholarship that often overlooks the perspectives of regulatees. Utilizing a conjoint experiment, this research assesses SMEs' preferences for ESG policies with varying levels of specificity in ESG aspects. We find that SMEs generally favor some form of ESG regulation over none; preferences vary across policy fields and subsectors. The findings indicate that understanding SMEs' preferences is necessary to design effective policy tools that encourage ESG adoption. By focusing on regulatees' perceptions, this research contributes to a more nuanced understanding of ESG policy design, offering valuable insights for policymakers aiming to enhance corporate sustainability across diverse business sectors.</p>\n </div>","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"34 2","pages":"2207-2221"},"PeriodicalIF":12.5000,"publicationDate":"2024-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Business Strategy and The Environment","FirstCategoryId":"91","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1002/bse.4100","RegionNum":1,"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

Though large corporations have made significant strides in environmental, social, and governance (ESG) integration, small and medium enterprises (SMEs) face challenges due to limited resources and incentives. This study explores the preferences and priorities of SMEs in Hong Kong—a major financial hub with over 340,000 SMEs—regarding ESG policy instruments, addressing a critical gap in current scholarship that often overlooks the perspectives of regulatees. Utilizing a conjoint experiment, this research assesses SMEs' preferences for ESG policies with varying levels of specificity in ESG aspects. We find that SMEs generally favor some form of ESG regulation over none; preferences vary across policy fields and subsectors. The findings indicate that understanding SMEs' preferences is necessary to design effective policy tools that encourage ESG adoption. By focusing on regulatees' perceptions, this research contributes to a more nuanced understanding of ESG policy design, offering valuable insights for policymakers aiming to enhance corporate sustainability across diverse business sectors.

查看原文本刊更多论文

求助全文

约1分钟内获得全文求助全文

来源期刊

Business Strategy and The Environment Multiple-

CiteScore

22.50

自引率

19.40%

发文量

336

期刊介绍： Business Strategy and the Environment (BSE) is a leading academic journal focused on business strategies for improving the natural environment. It publishes peer-reviewed research on various topics such as systems and standards, environmental performance, disclosure, eco-innovation, corporate environmental management tools, organizations and management, supply chains, circular economy, governance, green finance, industry sectors, and responses to climate change and other contemporary environmental issues. The journal aims to provide original contributions that enhance the understanding of sustainability in business. Its target audience includes academics, practitioners, business managers, and consultants. However, BSE does not accept papers on corporate social responsibility (CSR), as this topic is covered by its sibling journal Corporate Social Responsibility and Environmental Management. The journal is indexed in several databases and collections such as ABI/INFORM Collection, Agricultural & Environmental Science Database, BIOBASE, Emerald Management Reviews, GeoArchive, Environment Index, GEOBASE, INSPEC, Technology Collection, and Web of Science.