Kim Jangsoon, Cho Eunho, Okafor Collins E, Choi Donseung
Department of Business, Sogang University, Seoul, South Korea.
Department of Accounting and Finance, North Carolina A&T State University, Greensboro, NC, United States.
Front Psychol. 2022 May 13;13:899936. doi: 10.3389/fpsyg.2022.899936. eCollection 2022.
We examined the relations between environmental, social, and governance (ESG) activities and the performance of subsidiaries of multinational corporations (MNCs). We further investigated the moderating effect of market-oriented organizational culture on the relationship between ESG and performance. Employing generalized least square regression analysis using survey data, we show that ESG activities of MNC subsidiaries are positively associated with financial and non-financial performance. These results suggest that ESG improves the financial and non-financial performance of subsidiaries. The test for the moderating effect of the market-oriented organizational culture shows that it weakens the positive relationship between ESG activities and financial performance. This could be due to the incongruous nature of the short-term focus of a market-oriented organizational culture versus the long-term orientation of the sustainability of ESG activities.
我们研究了环境、社会和治理（ESG）活动与跨国公司（MNC）子公司绩效之间的关系。我们进一步考察了市场导向型组织文化对ESG与绩效关系的调节作用。利用调查数据进行广义最小二乘回归分析，我们发现跨国公司子公司的ESG活动与财务和非财务绩效呈正相关。这些结果表明，ESG提高了子公司的财务和非财务绩效。对市场导向型组织文化调节作用的检验表明，它削弱了ESG活动与财务绩效之间的正相关关系。这可能是由于市场导向型组织文化的短期关注与ESG活动可持续性的长期导向之间存在不协调的性质。
