{"title":"Associate With the Green to Become Greener: TMT Network and Corporate ESG Performance","authors":"Haodan Tang, Ruifeng Zhao, Dianchuan Jiang, Ziqi Chu","doi":"10.1002/csr.3256","DOIUrl":null,"url":null,"abstract":"<div>\n \n <p>Alongside regulations, utilizing social capital plays a crucial role in promoting corporate environmental, social, and governance (ESG) practices. This paper examines how top management team (TMT) networks influence corporate ESG performance. Our analysis reveals that the centrality of TMT networks significantly improves focal firms' ESG performance, confirmed through causal identification methods such as difference-in-differences (DID) strategy and instrumental variable estimation, along with various robustness tests. Furthermore, we find that companies can harness information and resources within the TMT network to leverage peer effects, enhance both internal and external governance and financing capabilities, and ultimately boost ESG performance. These findings highlight the inter-firm effects on corporate ESG performance, providing valuable insights for companies and policymakers focused on advancing sustainable development through social capital.</p>\n </div>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":"32 4","pages":"5521-5539"},"PeriodicalIF":8.3000,"publicationDate":"2025-05-22","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://onlinelibrary.wiley.com/doi/10.1002/csr.3256","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
Alongside regulations, utilizing social capital plays a crucial role in promoting corporate environmental, social, and governance (ESG) practices. This paper examines how top management team (TMT) networks influence corporate ESG performance. Our analysis reveals that the centrality of TMT networks significantly improves focal firms' ESG performance, confirmed through causal identification methods such as difference-in-differences (DID) strategy and instrumental variable estimation, along with various robustness tests. Furthermore, we find that companies can harness information and resources within the TMT network to leverage peer effects, enhance both internal and external governance and financing capabilities, and ultimately boost ESG performance. These findings highlight the inter-firm effects on corporate ESG performance, providing valuable insights for companies and policymakers focused on advancing sustainable development through social capital.
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.
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