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Dynamic Capabilities and an ESG Strategy for Sustainable Management Performance
Yi Liang1, Min Jae Lee2, Jin Sup Jung3
1School of Foreign Languages, Neijiang Normal University, Neijiang, China.
Frontiers in Psychology
|June 20, 2022
Summary
Firms need absorptive and adaptive capabilities to implement environmental, social, and governance (ESG) strategies effectively. These capabilities drive sustainable management performance by mediating ESG strategy implementation, leading to competitive advantage.
Area of Science:
- Business and Management
- Sustainability Studies
- Organizational Theory
Background:
- Growing importance of Environmental, Social, and Governance (ESG) strategies for corporate sustainability.
- Need to understand the dynamic capabilities that enable effective ESG strategy implementation.
- Integration of dynamic capabilities theory with sustainable management and ESG literature.
Purpose of the Study:
- To explore the dynamic capabilities essential for implementing ESG strategies.
- To investigate the link between ESG strategies and sustainable management performance.
- To identify key factors that catalyze sustainability achievement within firms.
Main Methods:
- Utilized dynamic capabilities theory to develop a research model.
- Collected data from 78 firms listed on the Korea Exchange (KRX) with significant assets.
- Applied the Partial Least Squares Structural Equation Model (PLS-SEM) for data analysis.
Main Results:
- Absorptive capability and adaptive capability significantly enhance sustainable management performance.
- ESG strategy implementation acts as a crucial mediating variable in this relationship.
- ESG strategy implementation is a significant determinant of sustainable management performance.
Conclusions:
- Dynamic capabilities, specifically absorptive and adaptive, are vital for successful ESG strategy execution.
- Effective ESG strategy implementation directly drives sustainable management performance.
- The study offers a model that contributes to knowledge and provides practical implications for sustainable growth and competitive advantage.
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