{"title":"Does ESG Influence Bank Profitability? A Comparison Between Islamic and Conventional Banks","authors":"Houcem Smaoui, Dalal Aassouli, Yomna Elakhdar","doi":"10.1002/csr.70010","DOIUrl":"https://doi.org/10.1002/csr.70010","url":null,"abstract":"<p>This research investigates the impact of environmental, social, and governance (ESG) factors on the performance of 67 banks across 13 countries, with a specific focus on comparing Islamic banks (IBs) and Conventional banks (CBs) from 2009 to 2019. By leveraging the two-step process generalized method of moments (GMM) estimator presented by Blundell and Bond (1998), we address potential endogeneity concerns associated with bank capitalization. Our examination, while controlling for bank-specific and macroeconomic factors, demonstrates a noteworthy positive effect of ESG on overall bank performance, particularly attributable to the governance element. Curiously, our analysis indicates that while the governance factor of ESG positively affects IBs, it does not produce a similar impact on the performance of CBs. This differential effect highlights the distinct operational structures inherent in these banking paradigms and enriches the literature by offering empirical insights into how ESG factors affect bank performance differently within dual banking systems. The implications of the research advocate for policymakers and bank executives, particularly in Islamic banking, to devise tailored governance approaches to bolster ESG integration and performance.</p>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":"32 5","pages":"6048-6065"},"PeriodicalIF":9.1,"publicationDate":"2025-06-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/csr.70010","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144990667","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Maria Jose Murcia, Maria Dolores del Rio, Maria Carmela Annosi
{"title":"The Procession Goes Inside: Employees' Dissonance Reduction Strategies in Response to Corporate Hypocrisy","authors":"Maria Jose Murcia, Maria Dolores del Rio, Maria Carmela Annosi","doi":"10.1002/csr.70023","DOIUrl":"https://doi.org/10.1002/csr.70023","url":null,"abstract":"<div>\u0000 \u0000 <p>Organizations face increasing pressure to integrate corporate social responsibility (CSR) into business strategies, yet many struggle to align CSR commitments with actual practices, leading to corporate hypocrisy—a perceived inconsistency between CSR rhetoric and behavior. While prior research explores the consequences of hypocrisy on employees, little is known about the cognitive strategies they use to navigate these inconsistencies. Drawing on Cognitive Dissonance Theory (CDT), this study examines how employees reconcile hypocrisy-induced tensions in a multinational consulting firm, “HYDING,” where CSR commitments are structurally compartmentalized. Our findings unveil three dissonance reduction strategies: <i>blinding</i> (i.e., selective exposure to inconsistencies), <i>outsourcing</i> (i.e., denial of responsibility), and <i>imagining</i> (i.e., adding consonant cognitions). By uncovering the micro-level strategies that triggered corporate hypocrisy, this study contributes to micro-CSR literature, offering insights into mitigating hypocrisy's negative effects at the employee level.</p>\u0000 </div>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":"32 5","pages":"6106-6119"},"PeriodicalIF":9.1,"publicationDate":"2025-06-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144990669","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Justo Alberto Ramírez-Franco, Raquel Antolín-López, Iván Montiel
{"title":"Socialization of Prospective Practitioners Towards Pro-Sustainability Business Attitudes: The Business Curriculum and Social Referents","authors":"Justo Alberto Ramírez-Franco, Raquel Antolín-López, Iván Montiel","doi":"10.1002/csr.70015","DOIUrl":"https://doi.org/10.1002/csr.70015","url":null,"abstract":"<p>Transforming current business practices is key to addressing urgent sustainability grand challenges. To achieve such transformation, we first must foster the internalization of pro-sustainability business attitudes among prospective business practitioners. In this study, we aim to expand knowledge on the socialization process of business students toward business sustainability. First, we posit that both how and where business sustainability content is integrated into business courses impact the internalization of pro-sustainability business attitudes. Second, we propose that social referents (professors, class peers, and employers) moderate the effect of business sustainability integration approaches on the socialization of business sustainability. We test these relationships in a sample of 1029 business students. Our findings confirm that integrating business sustainability content into most units and making it mandatory in business courses contribute to forming pro-sustainability business attitudes. Moreover, our results reveal social referents, especially class peers, to be key direct and contingent informal socialization elements.</p>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":"32 5","pages":"6088-6105"},"PeriodicalIF":9.1,"publicationDate":"2025-06-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/csr.70015","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144990670","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Executive Gender Diversity and Eco-Innovation in Brazil: The Moderating Role of Sustainable Compensation Policies","authors":"Victor Daniel Vasconcelos, Maisa Souza de Ribeiro","doi":"10.1002/csr.70014","DOIUrl":"https://doi.org/10.1002/csr.70014","url":null,"abstract":"<div>\u0000 \u0000 <p>This study investigates how executive gender diversity influences environmental innovation. It also explores the moderating role of sustainable compensation policies in this relationship. The sample of this study comprises 1035 observations of Brazilian firms from 2010 to 2023. The Feasible Generalized Least Squares (FGLS) econometric method was employed to test the two proposed hypotheses with data from the LSEG database. Besides, the two-stage least squares method (2SLS) was used for the endogenous test. The results report that the presence of female executives has no impact on environmental innovation. Furthermore, the results reveal that sustainable compensation policy positively moderates the relationship between executive gender diversity and eco-innovation. These findings suggest that compensation linked to environmental goals satisfies stakeholder demands for the adoption of environmentally friendly practices. The results indicate that policymakers should encourage regulations that incentivize sustainable compensation policies. Additionally, boards of directors should incorporate environmental criteria into executive compensation. Finally, investors should include sustainable compensation policies in their investment criteria, recognizing that they can encourage the implementation of eco-innovative practices.</p>\u0000 </div>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":"32 5","pages":"6066-6087"},"PeriodicalIF":9.1,"publicationDate":"2025-06-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144990668","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Linking Transformational Leadership to Sustainability Outcomes: The Mediating Roles of Digital Transformation and Innovation","authors":"Héctor Cuevas-Vargas","doi":"10.1002/csr.70020","DOIUrl":"https://doi.org/10.1002/csr.70020","url":null,"abstract":"<div>\u0000 \u0000 <p>Sustainability remains a critical challenge for micro, small, and medium-sized enterprises (MSMEs) in emerging economies, where the adoption of digital transformation (DT) and innovation is often limited. This study aims to examine how transformational leadership (TL) influences sustainability performance (SP) through DT and innovation in the context of Mexican MSMEs. A quantitative, cross-sectional design was employed, using a self-administered questionnaire and simple random sampling to collect data from 360 business owners and managers in the state of Guanajuato, Mexico. Structural equation modeling was applied to test the proposed relationships. Results indicate that TL significantly enhances DT and innovation but does not exert a direct effect on SP. Instead, DT and innovation serve as mediators, with DT demonstrating the strongest indirect impact. These findings highlight the critical role of leadership in enabling digital and innovative capacities that drive sustainability, offering theoretical contributions and practical implications for leadership development and policy interventions.</p>\u0000 </div>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":"32 5","pages":"6016-6030"},"PeriodicalIF":9.1,"publicationDate":"2025-06-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144990789","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Implicit or Explicit? Understanding Consumer Responses to ESG-Related Claims and ESG Disclosure in the Consumer-Packaged Goods Industry: An Emerging Economy Perspective","authors":"Abdul Basit Abdul Rahim, Li Wang, Ahmed Rabeeu","doi":"10.1002/csr.70012","DOIUrl":"https://doi.org/10.1002/csr.70012","url":null,"abstract":"<div>\u0000 \u0000 <p>Grounded in signaling and legitimacy theories, this study explores consumers' responses to implicit and explicit ESG-related claims on product labels as well as the moderating effect of ESG disclosure in China's consumer-packaged goods industry. In a two-by-two between-subject experimental design with 329 Chinese consumers across diverse regions, the study reveals that explicit ESG claims generate stronger brand attachment and purchase outcomes compared to implicit claims. Moreover, the study finds support for the moderating role of ESG disclosure such that it amplifies both implicit and explicit ESG-related claims significantly. This study extends both signaling theory and legitimacy theory by explaining the mechanisms through which ESG-related claims and ESG disclosure interact to influence consumer decision-making in an emerging market context, thus filling critical gaps in existing literature. Practically, the study provides actionable strategies for organizations to optimize ESG communication by leveraging both explicit and implicit claims as well as ESG disclosure to drive favorable consumer outcomes.</p>\u0000 </div>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":"32 5","pages":"6031-6047"},"PeriodicalIF":9.1,"publicationDate":"2025-06-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144990790","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Staggered Board and Sexually Diverse Policies Adoption: Benevolence Motivation or Deeper Entrenchment?","authors":"Nuttavuth Nundhapana, Sirimon Treepongkaruna, Pornsit Jiraporn","doi":"10.1002/csr.3267","DOIUrl":"https://doi.org/10.1002/csr.3267","url":null,"abstract":"<p>Building sexually diverse workplaces has become increasingly crucial for corporates. To create sexually diverse workplaces, firms require a high level of commitment collectively from their stakeholders, especially from corporate leadership. Since the board of directors is critical in monitoring and guiding firms' management, corporate governance structures at the board level are vital to the success of such inclusive policies. Motivated by two opposing views on staggered boards and increasing awareness of LGBTQ+ inclusive policies globally, we investigate how staggered board status affects a firm's involvement in addressing sexual discrimination problems through sexually diverse policies adoption and how such decisions eventually affect firm performance. Based on 5241 firm-year observations over the 1996–2010 sample period, we consistently find a negative relation between staggered boards and the likelihood that firms adopt sexually diverse policies. Additionally, we find staggered boards lead to poor firm performance while firms adopting the sexually diverse policies outperform those not adopting the sexually diverse policies. The findings support the <i>quiet life hypothesis</i> where entrenched managers' decisions are not optimal. Furthermore, we find a strong positive association between staggered board firms adopting sexual diversity and firm value, with net effects higher than firms with annual board elections adopting sexual diversity. Consistent with the <i>stakeholder and good management hypothesis</i>, the latter finding exhibits strong economic benefits of the inclusive policies exceeding downsides of staggered board status, and potential synergies from the dual existence of staggered board status and the inclusive policies.</p>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":"32 5","pages":"5940-5955"},"PeriodicalIF":9.1,"publicationDate":"2025-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/csr.3267","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144990769","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Nha Minh Nguyen, Hien Vo Van, Dao Truc Thi Vo, Oanh Kieu Thi Nguyen, Duong Van Bui
{"title":"ESG Practices and Firm Value: A Novel Perspective From Mediating and Moderating Components","authors":"Nha Minh Nguyen, Hien Vo Van, Dao Truc Thi Vo, Oanh Kieu Thi Nguyen, Duong Van Bui","doi":"10.1002/csr.3264","DOIUrl":"https://doi.org/10.1002/csr.3264","url":null,"abstract":"<div>\u0000 \u0000 <p>This paper investigates the complex interplay among environmental, social, and governance practices (ESGP), sustainable products (SPR), and firm market value (FMV) within leading economies (G7). Established by stakeholder and resource-based view theory, it examines how research and development investment (RDI) influences the ESGP–SPR relationship while exploring environmental uncertainty's (ENU) moderating effect on the ESGP–FMV link. Leveraging data from 617 companies (2019–2023), this research employs maximum likelihood structural equation modeling to disentangle the links between key variables. The results highlight that ESGP positively influences SPR; however, SPR unexpectedly negatively affects FMV. Further, SPR exhibits a competitive mediating role in the ESGP–FMV relationship, and ENU significantly moderates the ESGP–FMV nexus. The findings suggest that firms should focus on effectively communicating the value proposition of their sustainable offerings to consumers. Policymakers could consider incentives to bridge the potential price gap between sustainable and conventional products, encouraging wider adoption and aligning market value with environmental responsibility.</p>\u0000 </div>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":"32 5","pages":"5918-5939"},"PeriodicalIF":9.1,"publicationDate":"2025-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144990694","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Sustainable Development Goal-Related Innovations and Financial Performance: Evidence From European Grocery Retailers","authors":"Mónika-Anetta Alt, Zombor Berezvai, Irma Agárdi","doi":"10.1002/csr.70013","DOIUrl":"https://doi.org/10.1002/csr.70013","url":null,"abstract":"<p>The grocery retail industry is of great economic importance, with millions of people employed in the sector and billions of customers served. Consequently, the sustainability initiatives undertaken by retailers have a substantial impact. This paper explores the impact of innovations related to the Sustainable Development Goals (SDGs) on retailers' financial performance. The findings of this study indicate that the 18 largest European grocery retailers introduced 2701 innovations between 2007 and 2021, of which 783 were SDG-related. Furthermore, these SDG-related innovations impacted financial performance positively. Innovations related to SDG2 (zero hunger), SDG9 (industry, innovation and infrastructure), and SDG12 (responsible consumption and production) had a significant and positive effect on the financial performance of grocery retailers, thereby inspiring a new wave of sustainability-related practices in the industry. The present study contributes to the extant literature by demonstrating that profitable SDG-related innovations have been identified in all three areas of the triple bottom line approach.</p>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":"32 5","pages":"5978-5995"},"PeriodicalIF":9.1,"publicationDate":"2025-06-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/csr.70013","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144990730","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Influence of Gender Discrimination and Gender Equality on Corporate Tax Aggressiveness","authors":"David Castillo-Merino, Josep Garcia-Blandon","doi":"10.1002/csr.70009","DOIUrl":"https://doi.org/10.1002/csr.70009","url":null,"abstract":"<p>In this paper, we examine whether gender diversity on board audit committees promotes socially responsible corporate tax behavior by analyzing the influence of female directors on aggressive tax strategies. We explore this relationship through the complementary lenses of agency and resource dependence theories. We hypothesize and find that gender discrimination in board appointments, gender-diverse committees, and the expertise of female directors play a decisive role in shaping their contribution to addressing tax-risk issues at the audit committee level. Our findings indicate that the presence of female directors on the audit committee significantly reduces corporate tax aggressiveness in gender-diverse and female-dominant environments, with the effect further enhanced by female expertise. Furthermore, we uncover that this effect disappears in firms exhibiting gender-discriminatory practices, where the presence of female directors is instead associated with increased tax aggressiveness. These findings suggest that gender discrimination and women's self-selection into less tax-aggressive firms may act as confounding factors when assessing the impact of female directors on corporate tax behavior.</p>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":"32 5","pages":"5956-5977"},"PeriodicalIF":9.1,"publicationDate":"2025-06-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/csr.70009","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144990829","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}