Approaching environmentalism for high ESG ratings: Evidence from dynamic multi-signal interpretation

IF 5.6 2区管理学 Q1 BUSINESS

Long Range Planning Pub Date : 2026-02-01 Epub Date: 2026-01-14 DOI:10.1016/j.lrp.2026.102608

Jieyu Wang , Taiwen Feng

{"title":"Approaching environmentalism for high ESG ratings: Evidence from dynamic multi-signal interpretation","authors":"Jieyu Wang , Taiwen Feng","doi":"10.1016/j.lrp.2026.102608","DOIUrl":null,"url":null,"abstract":"<div><div>Research on environmentalism signalling overlooks the complexity within a single strategy dimension and is particularly silent on delineating the dynamics of multi-signal interpretation. This article bridges these gaps by conceptualizing ESG ratings as the result of comprehensive interpretation of firms’ multifold environmental signals and providing a dynamic picture of how multi-signalling unfolds. We adopt a time-series configurational approach to reveal different equifinal signal configurations associated with high ESG ratings across 9 observed consecutive years. Our findings indicate that configurations driving high ESG ratings across periods are not identical, which may involve the co-evolution of institutional logics embedded in signalling environment and strategic choices for environmental signals. We then develop a multi-case analysis to disentangle the underlying logics of multi-signal interpretation. This study adds to the research on the multifaceted nature and dynamics of signal perception by discussing the role of adaptative and exaptative signals and highlighting that the perception is subject to signalling environment.</div></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"59 1","pages":"Article 102608"},"PeriodicalIF":5.6000,"publicationDate":"2026-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Long Range Planning","FirstCategoryId":"91","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0024630126000051","RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"2026/1/14 0:00:00","PubModel":"Epub","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}

引用次数: 0

Abstract

Research on environmentalism signalling overlooks the complexity within a single strategy dimension and is particularly silent on delineating the dynamics of multi-signal interpretation. This article bridges these gaps by conceptualizing ESG ratings as the result of comprehensive interpretation of firms’ multifold environmental signals and providing a dynamic picture of how multi-signalling unfolds. We adopt a time-series configurational approach to reveal different equifinal signal configurations associated with high ESG ratings across 9 observed consecutive years. Our findings indicate that configurations driving high ESG ratings across periods are not identical, which may involve the co-evolution of institutional logics embedded in signalling environment and strategic choices for environmental signals. We then develop a multi-case analysis to disentangle the underlying logics of multi-signal interpretation. This study adds to the research on the multifaceted nature and dynamics of signal perception by discussing the role of adaptative and exaptative signals and highlighting that the perception is subject to signalling environment.

查看原文本刊更多论文

接近环境保护主义的高ESG评级：来自动态多信号解释的证据

环境保护信号的研究忽略了单一策略维度的复杂性，对多信号解释的动态描述尤其沉默。本文通过将ESG评级概念化为对公司多重环境信号的综合解释的结果，并提供了多重信号如何展开的动态图景，从而弥合了这些差距。我们采用时间序列配置方法来揭示连续9年观察到的与高ESG评级相关的不同等效信号配置。我们的研究结果表明，不同时期推动高ESG评级的配置并不相同，这可能涉及信号环境中嵌入的制度逻辑和环境信号的战略选择的共同演变。然后，我们开发了一个多案例分析，以解开多信号解释的潜在逻辑。本研究通过讨论适应性和适应性信号的作用，并强调信号感知受信号环境的影响，增加了对信号感知的多面性和动态性的研究。

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

Long Range Planning Multiple-

CiteScore

13.00

自引率

7.10%

发文量

期刊介绍： Long Range Planning (LRP) is an internationally renowned journal specializing in the field of strategic management. Since its establishment in 1968, the journal has consistently published original research, garnering a strong reputation among academics. LRP actively encourages the submission of articles that involve empirical research and theoretical perspectives, including studies that provide critical assessments and analysis of the current state of knowledge in crucial strategic areas. The primary user base of LRP primarily comprises individuals from academic backgrounds, with the journal playing a dual role within this community. Firstly, it serves as a platform for the dissemination of research findings among academic researchers. Secondly, it serves as a channel for the transmission of ideas that can be effectively utilized in educational settings. The articles published in LRP cater to a diverse audience, including practicing managers and students in professional programs. While some articles may focus on practical applications, others may primarily target academic researchers. LRP adopts an inclusive approach to empirical research, accepting studies that draw on various methodologies such as primary survey data, archival data, case studies, and recognized approaches to data collection.