{"title":"探讨环境、社会和治理（ESG）绩效对企业效率的影响：金砖国家环境研发投资的中介作用","authors":"Umar Farooq, Jakkrit Thavorn","doi":"10.1002/csr.3165","DOIUrl":null,"url":null,"abstract":"<div>\n \n <p>In emerging economies, businesses face mounting pressure to enhance their environmental, social, and governance (ESG) practices while boosting operational efficiency. This study investigates the mediating role of environmental R&D investment (END) in the relationship between ESG performance and firm efficiency. Using the fixed effects and system GMM approaches, the analysis covers data from BRICS firms between 2010 and 2022. To ensure robustness, panel quantile regression (PQR) is employed to validate results across various quantiles of firm efficiency distribution. The findings indicate that ESG performance positively influences firm efficiency, with END acting as a crucial mediator in this relationship. Specifically, firms with higher ESG scores are more inclined to invest in END, which subsequently drives improvements in efficiency through innovations in sustainable practices and technologies. The study suggests that policymakers should implement financial mechanisms, incentives, and regulations to foster investments in environmental R&D, thereby supporting ESG practices. This research adds to the existing body of literature by emphasizing the unique function of environmental R&D spending as a mediator between ESG performance and enterprise efficiency.</p>\n </div>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":"32 3","pages":"3978-3996"},"PeriodicalIF":8.3000,"publicationDate":"2025-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Exploring the Impact of Environmental, Social, and Governance (ESG) Performance on Firm Efficiency: The Mediating Role of Environmental R&D Investment in BRICS Economies\",\"authors\":\"Umar Farooq, Jakkrit Thavorn\",\"doi\":\"10.1002/csr.3165\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div>\\n \\n <p>In emerging economies, businesses face mounting pressure to enhance their environmental, social, and governance (ESG) practices while boosting operational efficiency. This study investigates the mediating role of environmental R&D investment (END) in the relationship between ESG performance and firm efficiency. Using the fixed effects and system GMM approaches, the analysis covers data from BRICS firms between 2010 and 2022. To ensure robustness, panel quantile regression (PQR) is employed to validate results across various quantiles of firm efficiency distribution. The findings indicate that ESG performance positively influences firm efficiency, with END acting as a crucial mediator in this relationship. Specifically, firms with higher ESG scores are more inclined to invest in END, which subsequently drives improvements in efficiency through innovations in sustainable practices and technologies. The study suggests that policymakers should implement financial mechanisms, incentives, and regulations to foster investments in environmental R&D, thereby supporting ESG practices. This research adds to the existing body of literature by emphasizing the unique function of environmental R&D spending as a mediator between ESG performance and enterprise efficiency.</p>\\n </div>\",\"PeriodicalId\":48334,\"journal\":{\"name\":\"Corporate Social Responsibility and Environmental Management\",\"volume\":\"32 3\",\"pages\":\"3978-3996\"},\"PeriodicalIF\":8.3000,\"publicationDate\":\"2025-03-03\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Corporate Social Responsibility and Environmental Management\",\"FirstCategoryId\":\"91\",\"ListUrlMain\":\"https://onlinelibrary.wiley.com/doi/10.1002/csr.3165\",\"RegionNum\":2,\"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":"Corporate Social Responsibility and Environmental Management","FirstCategoryId":"91","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1002/csr.3165","RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}
Exploring the Impact of Environmental, Social, and Governance (ESG) Performance on Firm Efficiency: The Mediating Role of Environmental R&D Investment in BRICS Economies
In emerging economies, businesses face mounting pressure to enhance their environmental, social, and governance (ESG) practices while boosting operational efficiency. This study investigates the mediating role of environmental R&D investment (END) in the relationship between ESG performance and firm efficiency. Using the fixed effects and system GMM approaches, the analysis covers data from BRICS firms between 2010 and 2022. To ensure robustness, panel quantile regression (PQR) is employed to validate results across various quantiles of firm efficiency distribution. The findings indicate that ESG performance positively influences firm efficiency, with END acting as a crucial mediator in this relationship. Specifically, firms with higher ESG scores are more inclined to invest in END, which subsequently drives improvements in efficiency through innovations in sustainable practices and technologies. The study suggests that policymakers should implement financial mechanisms, incentives, and regulations to foster investments in environmental R&D, thereby supporting ESG practices. This research adds to the existing body of literature by emphasizing the unique function of environmental R&D spending as a mediator between ESG performance and enterprise efficiency.
期刊介绍：
Corporate Social Responsibility and Environmental Management is a journal that publishes both theoretical and practical contributions related to the social and environmental responsibilities of businesses in the context of sustainable development. It covers a wide range of topics, including tools and practices associated with these responsibilities, case studies, and cross-country surveys of best practices. The journal aims to help organizations improve their performance and accountability in these areas.
The main focus of the journal is on research and practical advice for the development and assessment of social responsibility and environmental tools. It also features practical case studies and evaluates the strengths and weaknesses of different approaches to sustainability. The journal encourages the discussion and debate of sustainability issues and closely monitors the demands of various stakeholder groups. Corporate Social Responsibility and Environmental Management is a refereed journal, meaning that all contributions undergo a rigorous review process. It seeks high-quality contributions that appeal to a diverse audience from various disciplines.
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