What Really Explains ESG Performance? Disentangling the Asymmetrical Drivers of the Triple Bottom Line

IF 4.2 4区 管理学 Q1 ENVIRONMENTAL STUDIES
Logan Crace, Joel Gehman
{"title":"What Really Explains ESG Performance? Disentangling the Asymmetrical Drivers of the Triple Bottom Line","authors":"Logan Crace, Joel Gehman","doi":"10.1177/10860266221079408","DOIUrl":null,"url":null,"abstract":"Why is there such great heterogeneity in environmental, social, and governance (ESG) performance between firms? Drawing inspiration from the locus of performance literature, we use variance partitioning methods to analyze the extent to which CEO, firm, industry, year, and state effects explain variation in ESG performance over recent decades. Our findings show that internal effects (i.e., CEO and firm) are the strongest determinants. Yet, disaggregation of the multidimensional ESG construct shifts the salience of the factors significantly, revealing the importance of the external environment (i.e., industry and year) in explaining ESG concerns. Our research extends the locus of performance literature to our understanding of the triple bottom line and contributes to understanding the complex determinants of firm-level ESG performance across an array of positive and negative ESG indicators.","PeriodicalId":47984,"journal":{"name":"Organization & Environment","volume":null,"pages":null},"PeriodicalIF":4.2000,"publicationDate":"2022-03-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"10","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Organization & Environment","FirstCategoryId":"91","ListUrlMain":"https://doi.org/10.1177/10860266221079408","RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ENVIRONMENTAL STUDIES","Score":null,"Total":0}
引用次数: 10

Abstract

Why is there such great heterogeneity in environmental, social, and governance (ESG) performance between firms? Drawing inspiration from the locus of performance literature, we use variance partitioning methods to analyze the extent to which CEO, firm, industry, year, and state effects explain variation in ESG performance over recent decades. Our findings show that internal effects (i.e., CEO and firm) are the strongest determinants. Yet, disaggregation of the multidimensional ESG construct shifts the salience of the factors significantly, revealing the importance of the external environment (i.e., industry and year) in explaining ESG concerns. Our research extends the locus of performance literature to our understanding of the triple bottom line and contributes to understanding the complex determinants of firm-level ESG performance across an array of positive and negative ESG indicators.
如何真正解释ESG绩效?解开三重底线的不对称驱动因素
为什么企业之间在环境、社会和治理(ESG)绩效方面存在如此巨大的异质性?从绩效文献的轨迹中获得灵感,我们使用方差划分方法来分析CEO、公司、行业、年份和州的影响在多大程度上解释了近几十年来ESG绩效的变化。我们的研究结果表明,内部效应(即CEO和公司)是最强的决定因素。然而,对多维ESG结构的分解显著地改变了这些因素的显著性,揭示了外部环境(即行业和年份)在解释ESG关注点方面的重要性。我们的研究将绩效文献的轨迹扩展到我们对三重底线的理解,并有助于通过一系列积极和消极的ESG指标来理解公司层面ESG绩效的复杂决定因素。
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
CiteScore
11.20
自引率
5.70%
发文量
19
期刊介绍: Organization & Environment encourages informed discussion about the social roots and consequences of environmental problems and stimulates deeper reflection on the meaning and significance of the natural world. By critically examining the impact of human production and consumption systems on the natural environment, Organization & Environment develops new perspectives on organizations that encourage environmentally sensitive reflection, inquiry, and practice.
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
确定
请完成安全验证×
copy
已复制链接
快去分享给好友吧!
我知道了
右上角分享
点击右上角分享
0
联系我们:info@booksci.cn Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术官方微信