Configurational Analysis of ESG Performance, Innovation Intensity, and Financial Leverage: a Study on Total Factor Productivity in Chinese Pharmaceutical Manufacturing Firms

Tan, Juan; Wei, Jinyu

doi:10.1007/s13132-023-01678-y

J Knowl Econ

2023

DOI: 10.1007/s13132-023-01678-y

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Configurational Analysis of ESG Performance, Innovation Intensity, and Financial Leverage: a Study on Total Factor Productivity in Chinese Pharmaceutical Manufacturing Firms

Juan Tan,

Jinyu Wei

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2024

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Cited by 3 publications

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“…In general, the higher the proportion of R&D funds in the operating income, the higher the R&D investment of the enterprise [43]. Therefore, R&D investment was measured by the ratio of the R&D funds to operating income of the enterprise [44].…”

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How to Improve the Environmental, Social and Governance Performance of Chinese Construction Enterprises Based on the Fuzzy Set Qualitative Comparative Analysis Method

Dang,

Peng,

Deng

2024

Sustainability

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The environmental, social and governance (ESG) performance of construction enterprises still needs to be improved. Therefore, in order to better utilize resources effectively to improve enterprise ESG performance, this paper explores the configuration paths for Chinese construction enterprises to improve their ESG performance using the (fuzzy set qualitative comparative analysis) fsQCA method. It was found that single conditions are not necessary to achieve high ESG performance. The improvement of the high ESG performance needs to be combined with synergistic effects of multiple conditions. The specific configuration paths consist of six types of conditions. They are the environmental goal and management-led improvement path, the environmental training and action-led improvement path, the environmental concept and partner protection joint-led improvement path, the environmental and social level synergistic improvement path and the two multifactorial composite improvement paths. Among them, the environmental concepts, environmental goal and management, environmental training and action, and partner protection are the core conditions. The other conditions also have a certain supporting role. This study will help the construction enterprises to effectively allocate resources and develop ESG strategies with limited resources. It will also provide a reference for the government to manage the ESG performance of enterprises.

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confidence: 99%

How to Improve the Environmental, Social and Governance Performance of Chinese Construction Enterprises Based on the Fuzzy Set Qualitative Comparative Analysis Method

Dang,

Peng,

Deng

2024

Sustainability

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Investigating the Connections Between Short-Selling Deregulation and Green Total Factor Productivity: Empirical Insights from China

Mai

2024

J Knowl Econ

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The Impact of Environmental, Social, and Governance Performance on the Total Factor Productivity of Textile Firms: A Meditating-Moderating Model

Zhang,

Chen,

Zhang

2024

Sustainability

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Today’s world is experiencing a great change that has not been seen in a hundred years, with a tense and complex world situation; under the influence of the Israeli–Palestinian conflict, trade friction between China and the U.S., and other events, enterprises need to choose good tactics to achieve strategic development. Environmental, Social, and Governance （ESG） is an indicator that measures the non-financial performance of an enterprise; this article takes listed companies in China’s textile industry from 2015 to 2022 as a research sample and utilizes a bi-directional fixed-effect model that controls for time and individuals to empirically analyze the relationship between ESG performance and corporate total factor productivity (TFP). The results show the following: (1) the better the corporate ESG performance, the higher the TFP; (2) the mechanism test results show that corporate ESG performance promotes TFP by improving green innovation capacity and enhancing corporate human capital, and green innovation and human capital play a partially mediating role; (3) the moderation test shows that agency costs play a weakening role in ESG performance, positively affecting corporate total factor productivity; (4) the heterogeneity analyses found that enterprises are more significantly affected by ESG among non-state-owned enterprises and in the central region. The results of the study provide empirical evidence to guide textile enterprises to actively fulfill ESG performance to enhance enterprise total factor productivity and achieve high quality and sustainable development.

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Configurational Analysis of ESG Performance, Innovation Intensity, and Financial Leverage: a Study on Total Factor Productivity in Chinese Pharmaceutical Manufacturing Firms

Cited by 3 publications

References 77 publications

How to Improve the Environmental, Social and Governance Performance of Chinese Construction Enterprises Based on the Fuzzy Set Qualitative Comparative Analysis Method

How to Improve the Environmental, Social and Governance Performance of Chinese Construction Enterprises Based on the Fuzzy Set Qualitative Comparative Analysis Method

Investigating the Connections Between Short-Selling Deregulation and Green Total Factor Productivity: Empirical Insights from China

The Impact of Environmental, Social, and Governance Performance on the Total Factor Productivity of Textile Firms: A Meditating-Moderating Model

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