探索新兴市场的ESG -循环经济关系：治理、创新和可持续商业模式的系统视角

IF 12.5 1区管理学 Q1 BUSINESS

Business Strategy and The Environment Pub Date : 2025-04-04 DOI:10.1002/bse.4278

Andrew Osei Agyemang, Abednego Osei, Maxwell Kongkuah

{"title":"探索新兴市场的ESG -循环经济关系：治理、创新和可持续商业模式的系统视角","authors":"Andrew Osei Agyemang, Abednego Osei, Maxwell Kongkuah","doi":"10.1002/bse.4278","DOIUrl":null,"url":null,"abstract":"As businesses increasingly integrate sustainability into corporate strategy, the role of environmental, social, and governance (ESG) disclosure in driving circular economy (CE) adoption has garnered significant attention. However, the mechanisms through which ESG disclosure facilitates CE transitions remain underexplored, particularly in emerging economies such as sub‐Saharan Africa (SSA). This study examines the synergistic roles of corporate sustainability committees as mediators and eco‐innovation as a moderator in strengthening the ESG–CE relationship. Using a panel dataset of 320 manufacturing firms in SSA (2010–2022) and employing advanced econometric techniques, we address potential endogeneity and model biases. The findings reveal that environmental and social disclosures positively influence CE adoption, whereas governance disclosure exerts a negative effect due to weak regulatory frameworks and compliance inconsistencies. Corporate sustainability committees enhance the ESG–CE relationship by ensuring that ESG commitments translate into strategic sustainability actions, while eco‐innovation amplifies the impact of ESG disclosure, accelerating CE implementation. Notably, we observe significant heterogeneity in the effects of ESG disclosure on CE across regional and industrial variations. The findings remain robust across multiple sensitivity tests, confirming their reliability. Our results underscore the need for policymakers to strengthen ESG disclosure mandates and enforce corporate reporting frameworks to accelerate CE adoption. Furthermore, we recommend that corporations prioritize investments in eco‐innovation and integrate sustainability committees into their governance structures to reinforce strategic ESG–CE alignment. These insights offer valuable implications for business leaders, policymakers, and sustainability advocates in fostering a resilient and CE in SSA.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"8 1","pages":""},"PeriodicalIF":12.5000,"publicationDate":"2025-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Exploring the ESG‐Circular Economy Nexus in Emerging Markets: A Systems Perspective on Governance, Innovation, and Sustainable Business Models\",\"authors\":\"Andrew Osei Agyemang, Abednego Osei, Maxwell Kongkuah\",\"doi\":\"10.1002/bse.4278\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"As businesses increasingly integrate sustainability into corporate strategy, the role of environmental, social, and governance (ESG) disclosure in driving circular economy (CE) adoption has garnered significant attention. However, the mechanisms through which ESG disclosure facilitates CE transitions remain underexplored, particularly in emerging economies such as sub‐Saharan Africa (SSA). This study examines the synergistic roles of corporate sustainability committees as mediators and eco‐innovation as a moderator in strengthening the ESG–CE relationship. Using a panel dataset of 320 manufacturing firms in SSA (2010–2022) and employing advanced econometric techniques, we address potential endogeneity and model biases. The findings reveal that environmental and social disclosures positively influence CE adoption, whereas governance disclosure exerts a negative effect due to weak regulatory frameworks and compliance inconsistencies. Corporate sustainability committees enhance the ESG–CE relationship by ensuring that ESG commitments translate into strategic sustainability actions, while eco‐innovation amplifies the impact of ESG disclosure, accelerating CE implementation. Notably, we observe significant heterogeneity in the effects of ESG disclosure on CE across regional and industrial variations. The findings remain robust across multiple sensitivity tests, confirming their reliability. Our results underscore the need for policymakers to strengthen ESG disclosure mandates and enforce corporate reporting frameworks to accelerate CE adoption. Furthermore, we recommend that corporations prioritize investments in eco‐innovation and integrate sustainability committees into their governance structures to reinforce strategic ESG–CE alignment. These insights offer valuable implications for business leaders, policymakers, and sustainability advocates in fostering a resilient and CE in SSA.\",\"PeriodicalId\":9518,\"journal\":{\"name\":\"Business Strategy and The Environment\",\"volume\":\"8 1\",\"pages\":\"\"},\"PeriodicalIF\":12.5000,\"publicationDate\":\"2025-04-04\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Business Strategy and The Environment\",\"FirstCategoryId\":\"91\",\"ListUrlMain\":\"https://doi.org/10.1002/bse.4278\",\"RegionNum\":1,\"RegionCategory\":\"管理学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Business Strategy and The Environment","FirstCategoryId":"91","ListUrlMain":"https://doi.org/10.1002/bse.4278","RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}

引用次数: 0

摘要

随着企业越来越多地将可持续发展纳入企业战略，环境、社会和治理（ESG）信息披露在推动循环经济（CE）采用方面的作用受到了广泛关注。然而，ESG披露促进CE转型的机制仍未得到充分探索，特别是在撒哈拉以南非洲（SSA）等新兴经济体。本研究考察了企业可持续发展委员会作为中介和生态创新作为调节因素在加强ESG-CE关系中的协同作用。利用SSA 320家制造企业的面板数据集（2010-2022），并采用先进的计量经济学技术，我们解决了潜在的内生性和模型偏差。研究发现，环境和社会信息披露对企业行政执行具有积极影响，而治理信息披露由于监管框架薄弱和合规不一致而具有消极影响。企业可持续发展委员会通过确保ESG承诺转化为战略可持续发展行动来加强ESG - CE关系，而生态创新则放大了ESG披露的影响，加速了CE的实施。值得注意的是，我们观察到ESG披露对企业绩效的影响在地区和行业差异中存在显著的异质性。这些发现在多次敏感性测试中仍然很稳健，证实了它们的可靠性。我们的研究结果强调，政策制定者需要加强ESG披露要求，并执行公司报告框架，以加速企业环境治理的采用。此外，我们建议企业优先投资于生态创新，并将可持续发展委员会纳入其治理结构，以加强战略ESG-CE的一致性。这些见解为商业领袖、政策制定者和可持续发展倡导者在SSA中培养弹性和可持续发展提供了有价值的启示。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

查看原文本刊更多论文

Exploring the ESG‐Circular Economy Nexus in Emerging Markets: A Systems Perspective on Governance, Innovation, and Sustainable Business Models

As businesses increasingly integrate sustainability into corporate strategy, the role of environmental, social, and governance (ESG) disclosure in driving circular economy (CE) adoption has garnered significant attention. However, the mechanisms through which ESG disclosure facilitates CE transitions remain underexplored, particularly in emerging economies such as sub‐Saharan Africa (SSA). This study examines the synergistic roles of corporate sustainability committees as mediators and eco‐innovation as a moderator in strengthening the ESG–CE relationship. Using a panel dataset of 320 manufacturing firms in SSA (2010–2022) and employing advanced econometric techniques, we address potential endogeneity and model biases. The findings reveal that environmental and social disclosures positively influence CE adoption, whereas governance disclosure exerts a negative effect due to weak regulatory frameworks and compliance inconsistencies. Corporate sustainability committees enhance the ESG–CE relationship by ensuring that ESG commitments translate into strategic sustainability actions, while eco‐innovation amplifies the impact of ESG disclosure, accelerating CE implementation. Notably, we observe significant heterogeneity in the effects of ESG disclosure on CE across regional and industrial variations. The findings remain robust across multiple sensitivity tests, confirming their reliability. Our results underscore the need for policymakers to strengthen ESG disclosure mandates and enforce corporate reporting frameworks to accelerate CE adoption. Furthermore, we recommend that corporations prioritize investments in eco‐innovation and integrate sustainability committees into their governance structures to reinforce strategic ESG–CE alignment. These insights offer valuable implications for business leaders, policymakers, and sustainability advocates in fostering a resilient and CE in SSA.

求助全文

通过发布文献求助，成功后即可免费获取论文全文。去求助

来源期刊

Business Strategy and The Environment Multiple-

CiteScore

22.50

自引率

19.40%

发文量

336

期刊介绍： Business Strategy and the Environment (BSE) is a leading academic journal focused on business strategies for improving the natural environment. It publishes peer-reviewed research on various topics such as systems and standards, environmental performance, disclosure, eco-innovation, corporate environmental management tools, organizations and management, supply chains, circular economy, governance, green finance, industry sectors, and responses to climate change and other contemporary environmental issues. The journal aims to provide original contributions that enhance the understanding of sustainability in business. Its target audience includes academics, practitioners, business managers, and consultants. However, BSE does not accept papers on corporate social responsibility (CSR), as this topic is covered by its sibling journal Corporate Social Responsibility and Environmental Management. The journal is indexed in several databases and collections such as ABI/INFORM Collection, Agricultural & Environmental Science Database, BIOBASE, Emerald Management Reviews, GeoArchive, Environment Index, GEOBASE, INSPEC, Technology Collection, and Web of Science.