Business Strategy and Development最新文献

{"title":"Impact of Environmental, Social, and Governance Factors on Firm Efficiency: The Indian Service Sector Perspective","authors":"Neeraj Singhal,&nbsp;Pinku Paul,&nbsp;Sunil Giri","doi":"10.1002/bsd2.70187","DOIUrl":"https://doi.org/10.1002/bsd2.70187","url":null,"abstract":"<div>\u0000 \u0000 <p>Environmental, social, and governance (ESG) factors have gained much traction over time due to regulatory and societal changes in countries, governments, corporations, and individuals. This study is conceptualized to analyze the influence of ESG aspects on firms' efficiency using data envelopment analysis. A sample of 149 service firms drawn from the Indian service sector is analyzed using total assets and market capitalization as inputs and total income, profit, and ESG scores as outputs. The second phase analysis uses a simultaneous quantile regression (SQR) to study the association of the firms' efficiency level with the ESG scores. The findings signify a positive association between the social score and the firms' efficiency level at pooled ordinary least square regression and the 25th quantile level. However, it does not find any association between the environmental and governance scores at any quantile level and firms' efficiency. The study highlights significant implications for investors, corporations, and policymakers. ESG awareness will boost the formation of a robust ecosystem for the sustainable growth of the companies. However, further research could explore cross-industry comparisons over time to capture diverse business environments.</p>\u0000 </div>","PeriodicalId":36531,"journal":{"name":"Business Strategy and Development","volume":"8 3","pages":""},"PeriodicalIF":4.8,"publicationDate":"2025-07-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144688070","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Industry 4.0, Proximity Restrictions and Sustainable Development","authors":"Javier Bilbao-Ubillos,&nbsp;Vicente Camino-Beldarrain","doi":"10.1002/bsd2.70180","DOIUrl":"https://doi.org/10.1002/bsd2.70180","url":null,"abstract":"<p>The influx of digital technologies raises a need for technological adaptation that affects all of the manufacturing industry. The role of external entities will be especially relevant in facilitating the company's adaptation processes. Moreover, the widespread use of digital technologies in creating innovative solutions accelerates the need for adaptation processes, thus reinforcing ongoing dependence on external contexts for these initiatives. Within a cognitive framework where tacit knowledge is pivotal, there will be a need to reinforce the intensity of proximity constraints. Adaptation is bound to have very powerful territorial effects. This paper delves into the territorial challenges that emerge when digital technologies are integrated into the knowledge bases of the manufacturing industry's product fields. It examines two key dimensions: the proximity constraints that stem from the information flows between entities related to innovation goals, and how they affect decisions on business operation locations and explain the clustering of production in specific areas. Our study highlights the significant territorial effects resulting from the widespread adoption of Industry 4.0. This trend leads to the concentration of productive activities within highly technologically advanced areas and prompts reshoring processes. The geography of production is set to undergo profound transformations, yielding substantial impacts on sustainability. By repatriating or regionalising productive activities, production moves closer to developed markets, which notably reduces the ecological footprint. This shift is promoting greater sustainability in value chains and supports the adoption of a circular economy approach.</p>","PeriodicalId":36531,"journal":{"name":"Business Strategy and Development","volume":"8 3","pages":""},"PeriodicalIF":4.8,"publicationDate":"2025-07-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/bsd2.70180","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144688069","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Institutionalized Exploitation in Pakistan's Textile Supply Chain: Consequences of Buyer-Enforced Sustainability Management System","authors":"Iqra Sadaf Khan,&nbsp;Minna Halme","doi":"10.1002/bsd2.70177","DOIUrl":"https://doi.org/10.1002/bsd2.70177","url":null,"abstract":"<p>For more than two decades, global corporations have governed environmental and social sustainability by imposing ethics codes and sustainability standards on suppliers in the Global South. Yet, despite the growing prevalence of these frameworks, systemic problems persist. Drawing on empirical data from textile suppliers in Pakistan, this study offers a rarely explored perspective on global fashion value chains. Our findings reveal how global brands increasingly shift corporate responsibility along with the financial and environmental burden of sustainability to their suppliers. We conceptualize this phenomenon as buyer-enforced sustainability management, wherein brands impose rigid sustainability requirements while disregarding the local capacities, constraints, and institutional realities of supplier firms. We argue that these enforcement practices are not isolated but are rather a part of a broader strategy that exploits institutional weaknesses in supplier contexts. We identify local enabling factors such as regulatory voids and reactive compliance that allow this flawed model to continue.</p>","PeriodicalId":36531,"journal":{"name":"Business Strategy and Development","volume":"8 3","pages":""},"PeriodicalIF":4.8,"publicationDate":"2025-07-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/bsd2.70177","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144681033","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Patent Strength, Innovation, and CO2 Emissions: Evidence of Non-Linear Environmental Impacts Across Economies","authors":"Constantinos Alexiou,&nbsp;Marjan Petreski","doi":"10.1002/bsd2.70178","DOIUrl":"https://doi.org/10.1002/bsd2.70178","url":null,"abstract":"<div>\u0000 \u0000 <p>This study investigates the complex relationship among patent strength, innovation, and CO₂ emissions by exploring a pathway through which the strength of patents influences environmental sustainability. Utilizing structural equation modeling (SEM), we examine data from a diverse set of OECD and non-OECD countries over the period 1998–2017. Our results reveal a non-linear, S-shaped relationship between patent stringency and CO₂ emissions, highlighting that while stronger patent protections can initially lead to increased emissions due to industrial activity, they may also encourage efficiency improvements and cleaner practices after reaching a certain threshold. However, excessively stringent patents may revive emissions by reducing competition and innovation. The findings emphasize the need for nuanced patent policies that consider both economic growth and environmental sustainability.</p>\u0000 </div>","PeriodicalId":36531,"journal":{"name":"Business Strategy and Development","volume":"8 3","pages":""},"PeriodicalIF":4.8,"publicationDate":"2025-07-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144681021","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Correction to “Integrating Gender Equality Into Strategy Using Management Control Systems: Case Studies From Japanese Companies”","authors":"","doi":"10.1002/bsd2.70168","DOIUrl":"https://doi.org/10.1002/bsd2.70168","url":null,"abstract":"<p>Hosoda, M., S. Nagano, and A. Watanabe. 2025. “Integrating Gender Equality Into Strategy Using Management Control Systems: Case Studies From Japanese Companies.” <i>Business Strategy &amp; Development</i> 8, no. 3: e70154. https://doi.org/10.1002/bsd2.70154.</p><p>In paragraph 4 of “3 Theoretical Framework” section, the text “This is because the degree of use of diagnostic control systems and interactive control systems MCSs is related to the integration of gender equality into organisational strategy (Beusch et al. 2022; George et al. 2016; Gond et al. 2012; Wijethilake and Upadhaya 2020).” was incorrect. This should have read: “This is because the degree of use of diagnostic control systems and interactive control systems is related to the integration of gender equality into organisational strategy (Beusch et al. 2022; George et al. 2016; Gond et al. 2012; Wijethilake and Upadhaya 2020).”</p><p>In paragraph 3 of the “8 Conclusion, Limitations and Future Research” section, the text “Second, it is necessary to focus on beliefs systems and boundaries systems of LOC and informal control systems as discussed by Beusch et al. (2022).” was incorrect. This should have read: “Second, it is necessary to focus on beliefs systems and boundary systems of LOC and informal control systems as discussed by Beusch et al. (2022).”</p><p>In References, the following references are inconsistent with other references.</p><p>The Small and Medium Enterprise Agency. 2024. <i>2024 White Paper on Small and Medium Enterprises in Japan (In Japanese)</i>. Small and Medium Enterprise Agency. https://www.chusho.meti.go.jp/pamflet/hakusyo/2024/PDF/chusho/00Hakusyo_zentai.pdf.</p><p>The Small and Medium Enterprise Agency. 2025. <i>Definition of Small and Medium-Sized Enterprises and Micro-Enterprises (In Japanese)</i>. Small and Medium Enterprise Agency. https://www.chusho.meti.go.jp/soshiki/teigi.html.</p><p>These should be:</p><p>The Small and Medium Enterprise Agency. 2024. <i>2024 White Paper on Small and Medium Enterprises in Japan</i>. Small and Medium Enterprise Agency. https://www.chusho.meti.go.jp/pamflet/hakusyo/2024/PDF/chusho/00Hakusyo_zentai.pdf.</p><p>The Small and Medium Enterprise Agency. 2025. <i>Definition of Small and Medium-Sized Enterprises and Micro-Enterprises</i>. Small and Medium Enterprise Agency. https://www.chusho.meti.go.jp/soshiki/teigi.html.</p><p>We apologize for these error.</p>","PeriodicalId":36531,"journal":{"name":"Business Strategy and Development","volume":"8 3","pages":""},"PeriodicalIF":4.8,"publicationDate":"2025-07-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/bsd2.70168","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144673053","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"CEO Characteristics, Sustainability Committee, and Carbon Emission Disclosure: New Evidence From Energy Industries Across ASEAN Countries","authors":"Umi Sulistiyanti,&nbsp;Doddy Setiawan","doi":"10.1002/bsd2.70182","DOIUrl":"https://doi.org/10.1002/bsd2.70182","url":null,"abstract":"<div>\u0000 \u0000 <p>This research examines the connection between characteristics of CEOs, sustainability committees, and carbon emissions. This study utilized data from 766 firm-year observations from 161 companies in the energy sector in ASEAN listed on the stock exchange markets during the observation years of 2018–2022. The data were then analyzed using panel data fixed-effect models. This study found that companies led by young and long-serving CEOs tended to disclose more carbon emission information. In addition, the presence of sustainability committees could improve carbon emission disclosure in the companies. Meanwhile, the nationality and educational level of CEOs did not influence carbon emission disclosure. These findings will be of interest to decision-makers when selecting CEOs and establishing sustainability committees as a proactive mechanism to address climate change issues and improve corporate carbon disclosure. To the best of the authors' knowledge, this study is among the first to provide empirical evidence on the influence of CEO characteristics and sustainability committees on carbon disclosure, focusing on the energy sector, which is a major contributor to carbon emissions in ASEAN countries.</p>\u0000 </div>","PeriodicalId":36531,"journal":{"name":"Business Strategy and Development","volume":"8 3","pages":""},"PeriodicalIF":4.8,"publicationDate":"2025-07-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144672929","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Sustainability Committee and ESG Performance: A Worldwide Evidence","authors":"Siti Nur Aini,&nbsp;Iman Harymawan,&nbsp;Doddy Setiawan,&nbsp;Desi Adhariani","doi":"10.1002/bsd2.70173","DOIUrl":"https://doi.org/10.1002/bsd2.70173","url":null,"abstract":"<div>\u0000 \u0000 <p>This study aims to examine the relationship between the sustainability committee and ESG performance. ESG performance is divided into three categories: ESG rating, ESG controversies, and ESG materiality. This research utilizes data from all companies worldwide listed in MSCI (Morgan Stanley Capital International), obtaining 1860 observations collected for the years 2022 and 2023, reflecting post-Covid-19 conditions. The least-squares regression analysis model was employed in this study. The results of this study show that the sustainability committee has a positive and significant impact on ESG ratings and materiality. Additionally, the research provides further analysis by examining differences in board tier systems, profit-loss status of firms, developed versus developing countries, and conducts robustness testing using methods such as coarsened exact matching, firm clustering test, and Heckman two-stage to corroborate the results. This study does not utilize ESG performance proxies based on disclosure but employs a more complex ESG performance proxy, namely ESG ratings, ESG controversies, and ESG materiality based on data from MSCI.</p>\u0000 </div>","PeriodicalId":36531,"journal":{"name":"Business Strategy and Development","volume":"8 3","pages":""},"PeriodicalIF":4.8,"publicationDate":"2025-07-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144672928","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A Green Internet of Things (GIoT) Adoption Framework to Enhance Environmental Performance of SMEs Through the Digital Social Networking","authors":"Muhammad Farhan Jalil,&nbsp;Dayang Affizzah Binti Awang Marikan,&nbsp;Mohamad bin Jais,&nbsp;Kartinah Ayupp,&nbsp;Muhammad Hafiz bin Mohd Shukri","doi":"10.1002/bsd2.70179","DOIUrl":"https://doi.org/10.1002/bsd2.70179","url":null,"abstract":"<p>Small and Medium Enterprises (SMEs) face increasing pressure to adopt sustainable practices, yet the adoption of advanced technologies like the Green Internet of Things (GIoT) remains limited. This study addresses this gap by proposing and validating a GIoT adoption framework aimed at enhancing environmental performance, emphasizing the mediating role of digital social networking (DSN). Extending the Unified Theory of Acceptance and Use of Technology (UTAUT), the model incorporates perceived motivation and perceived environmental knowledge as additional predictors. A quantitative survey of 614 SME owners and managers from manufacturing and service sectors was conducted, and structural equation modelling (SEM) was used for analysis. Results show that all UTAUT constructs, along with the extended variables, significantly influence GIoT adoption. GIoT adoption directly improves environmental performance and promotes DSN, which further amplifies its positive environmental impact. The study also reveals that manufacturing SMEs exhibit a stronger intent to adopt GIoT. Implications for policy and practice are discussed.</p>","PeriodicalId":36531,"journal":{"name":"Business Strategy and Development","volume":"8 3","pages":""},"PeriodicalIF":4.8,"publicationDate":"2025-07-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/bsd2.70179","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144672998","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Towards Enhanced Sustainability Reporting Credibility: The Role of National Governance in Europe","authors":"Mohammad Alta'any,&nbsp;Rasmi Meqbel,&nbsp;Babajide Oyewo,&nbsp;Abeer Alsulami","doi":"10.1002/bsd2.70171","DOIUrl":"https://doi.org/10.1002/bsd2.70171","url":null,"abstract":"<div>\u0000 \u0000 <p>Drawing on institutional theory, this study investigates the impact of national governance (i.e., voice and accountability, political stability, government effectiveness, regulatory quality, rule of law, and control of corruption) on companies' decisions to acquire sustainability assurance (SA) reports. The sample includes 6367 firm-year observations from 21 European countries between 2010 and 2021. A panel regression analysis using a logistic model is applied to test the hypotheses. Our results show that voice and accountability, political stability, regulatory quality, and the rule of law have a significant and positive impact on SA. On the other hand, government effectiveness and control of corruption have no influence on SA. The results are robust after several sensitivity analyses. Overall, the findings highlight the importance of national-level reforms to enhance governance features that augment the credibility of sustainability reporting. Stakeholders and investors can use governance indicators to identify companies most likely to adopt quality assurance. In addition, the study provides policy recommendations to support European sustainability goals through targeted governance improvements.</p>\u0000 </div>","PeriodicalId":36531,"journal":{"name":"Business Strategy and Development","volume":"8 3","pages":""},"PeriodicalIF":4.8,"publicationDate":"2025-07-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144672999","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Bibliometric Analysis and Systematic Literature Review of Environmental, Social, and Governance Risk","authors":"Thuy Anh Nguyen","doi":"10.1002/bsd2.70163","DOIUrl":"https://doi.org/10.1002/bsd2.70163","url":null,"abstract":"<div>\u0000 \u0000 <p>This study provides a comprehensive overview of the rapidly evolving environmental, social, and governance (ESG) risk field by integrating a bibliometric analysis with a systematic literature review (SLR). The bibliometric results reveal a sharp rise in scholarly output since 2020, driven by tighter sustainability regulations, growing investor scrutiny, and global disruptions such as the COVID-19 pandemic. Performance analysis highlights that Europe and North America, particularly Italy and the United States, lead in research productivity and citation impact, although collaboration remains fragmented. Science mapping identifies seven dominant thematic clusters, ranging from ESG risk integration in finance, controversies, and governance linkages to emerging data-driven and machine learning methods, which align closely with six core themes synthesized from the SLR. The qualitative synthesis of 26 influential studies confirms that ESG risk is a financially material factor influencing firm performance, audit quality, credit risk, and investment returns, but also exposes persistent challenges such as inconsistent measurement, limited causal testing, and underexplored contexts outside developed markets. The combined insights underline the need for harmonized ESG risk indicators, dynamic causal modeling, explainable AI, and cross-country comparative research. By bridging bibliometric structure and qualitative depth, this study offers an integrated foundation to guide future ESG risk scholarship and support more resilient, sustainable financial decision-making.</p>\u0000 </div>","PeriodicalId":36531,"journal":{"name":"Business Strategy and Development","volume":"8 3","pages":""},"PeriodicalIF":4.8,"publicationDate":"2025-07-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144647656","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}