{"title":"环境、社会和治理举措及争议如何解释中国能源企业的公司效率?","authors":"Qian Long Kweh, Irene Wei Kiong Ting, Chunya Ren, Jawad Asif","doi":"10.1108/k-12-2023-2704","DOIUrl":null,"url":null,"abstract":"<h3>Purpose</h3>\n<p>This study investigates how the initiatives and controversies related to environmental, social and governance (ESG) explain firm efficiency.</p><!--/ Abstract__block -->\n<h3>Design/methodology/approach</h3>\n<p>Firstly, this study applies data envelopment analysis with the epsilon-based measure to estimate the firm efficiency of 80 companies in the Chinese energy sector in 2022. This approach accounts for the diversity and relative importance of inputs and outputs from a multidimensional perspective. Secondly, this study regresses the variables of ESG initiatives and controversies on the estimated firm efficiency scores through a generalised additive model, which can capture nonlinear patterns.</p><!--/ Abstract__block -->\n<h3>Findings</h3>\n<p>This study finds that a) the samples have i) about 49% room for improvement in efficiently optimising their resources and business outcomes and ii) the highest scores in governance initiatives, followed by social initiative. b) 69% of them have controversy scores that are greater than the average value. c) A cluster analysis indicates that companies with higher social initiatives have higher firm efficiency than their counterparts. d) ESG initiatives and controversies are nonlinearly related to firm efficiency.</p><!--/ Abstract__block -->\n<h3>Research limitations/implications</h3>\n<p>The findings have practical implications for policy makers and managers who prioritise ESG, particularly regarding (i) the need to examine firm performance from a multidimensional perspective, that is, to measure multiple inputs and outputs simultaneously, (ii) the nonlinearity of the nexus between ESG and efficiency in graphical forms, and (iii) the need to balance ESG initiatives and address ESG controversies.</p><!--/ Abstract__block -->\n<h3>Originality/value</h3>\n<p>This study integrates statistical approaches in examining and ensuring sustainable growth and efficiency within the Chinese energy sector and beyond.</p><!--/ Abstract__block -->","PeriodicalId":49930,"journal":{"name":"Kybernetes","volume":"21 1","pages":""},"PeriodicalIF":2.5000,"publicationDate":"2024-05-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"How do environmental, social and governance initiatives and controversies explain the firm efficiency of Chinese energy companies?\",\"authors\":\"Qian Long Kweh, Irene Wei Kiong Ting, Chunya Ren, Jawad Asif\",\"doi\":\"10.1108/k-12-2023-2704\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<h3>Purpose</h3>\\n<p>This study investigates how the initiatives and controversies related to environmental, social and governance (ESG) explain firm efficiency.</p><!--/ Abstract__block -->\\n<h3>Design/methodology/approach</h3>\\n<p>Firstly, this study applies data envelopment analysis with the epsilon-based measure to estimate the firm efficiency of 80 companies in the Chinese energy sector in 2022. This approach accounts for the diversity and relative importance of inputs and outputs from a multidimensional perspective. Secondly, this study regresses the variables of ESG initiatives and controversies on the estimated firm efficiency scores through a generalised additive model, which can capture nonlinear patterns.</p><!--/ Abstract__block -->\\n<h3>Findings</h3>\\n<p>This study finds that a) the samples have i) about 49% room for improvement in efficiently optimising their resources and business outcomes and ii) the highest scores in governance initiatives, followed by social initiative. b) 69% of them have controversy scores that are greater than the average value. c) A cluster analysis indicates that companies with higher social initiatives have higher firm efficiency than their counterparts. d) ESG initiatives and controversies are nonlinearly related to firm efficiency.</p><!--/ Abstract__block -->\\n<h3>Research limitations/implications</h3>\\n<p>The findings have practical implications for policy makers and managers who prioritise ESG, particularly regarding (i) the need to examine firm performance from a multidimensional perspective, that is, to measure multiple inputs and outputs simultaneously, (ii) the nonlinearity of the nexus between ESG and efficiency in graphical forms, and (iii) the need to balance ESG initiatives and address ESG controversies.</p><!--/ Abstract__block -->\\n<h3>Originality/value</h3>\\n<p>This study integrates statistical approaches in examining and ensuring sustainable growth and efficiency within the Chinese energy sector and beyond.</p><!--/ Abstract__block -->\",\"PeriodicalId\":49930,\"journal\":{\"name\":\"Kybernetes\",\"volume\":\"21 1\",\"pages\":\"\"},\"PeriodicalIF\":2.5000,\"publicationDate\":\"2024-05-03\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Kybernetes\",\"FirstCategoryId\":\"94\",\"ListUrlMain\":\"https://doi.org/10.1108/k-12-2023-2704\",\"RegionNum\":4,\"RegionCategory\":\"计算机科学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q2\",\"JCRName\":\"COMPUTER SCIENCE, CYBERNETICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Kybernetes","FirstCategoryId":"94","ListUrlMain":"https://doi.org/10.1108/k-12-2023-2704","RegionNum":4,"RegionCategory":"计算机科学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"COMPUTER SCIENCE, CYBERNETICS","Score":null,"Total":0}
How do environmental, social and governance initiatives and controversies explain the firm efficiency of Chinese energy companies?
Purpose
This study investigates how the initiatives and controversies related to environmental, social and governance (ESG) explain firm efficiency.
Design/methodology/approach
Firstly, this study applies data envelopment analysis with the epsilon-based measure to estimate the firm efficiency of 80 companies in the Chinese energy sector in 2022. This approach accounts for the diversity and relative importance of inputs and outputs from a multidimensional perspective. Secondly, this study regresses the variables of ESG initiatives and controversies on the estimated firm efficiency scores through a generalised additive model, which can capture nonlinear patterns.
Findings
This study finds that a) the samples have i) about 49% room for improvement in efficiently optimising their resources and business outcomes and ii) the highest scores in governance initiatives, followed by social initiative. b) 69% of them have controversy scores that are greater than the average value. c) A cluster analysis indicates that companies with higher social initiatives have higher firm efficiency than their counterparts. d) ESG initiatives and controversies are nonlinearly related to firm efficiency.
Research limitations/implications
The findings have practical implications for policy makers and managers who prioritise ESG, particularly regarding (i) the need to examine firm performance from a multidimensional perspective, that is, to measure multiple inputs and outputs simultaneously, (ii) the nonlinearity of the nexus between ESG and efficiency in graphical forms, and (iii) the need to balance ESG initiatives and address ESG controversies.
Originality/value
This study integrates statistical approaches in examining and ensuring sustainable growth and efficiency within the Chinese energy sector and beyond.
期刊介绍:
Kybernetes is the official journal of the UNESCO recognized World Organisation of Systems and Cybernetics (WOSC), and The Cybernetics Society.
The journal is an important forum for the exchange of knowledge and information among all those who are interested in cybernetics and systems thinking.
It is devoted to improvement in the understanding of human, social, organizational, technological and sustainable aspects of society and their interdependencies. It encourages consideration of a range of theories, methodologies and approaches, and their transdisciplinary links. The spirit of the journal comes from Norbert Wiener''s understanding of cybernetics as "The Human Use of Human Beings." Hence, Kybernetes strives for examination and analysis, based on a systemic frame of reference, of burning issues of ecosystems, society, organizations, businesses and human behavior.