The impact of hybrid goal intensity on firm financial performance: an empirical analysis of S&P 500 firms
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2024-07-11
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en
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This study investigates the relationship between hybrid goal intensity and firm financial performance among S&P 500 companies. Hybrid goal intensity is defined as the extent to which organizational goals of commercial firms reflect a social logic, particularly through environmentally-oriented objectives. The analysis examines how the pursuit of multiple types of social goals influences return on assets (ROA) and whether this relationship is moderated by industry dynamism. Despite expectations from institutional theory and related literature, the findings reveal no significant direct effect of hybrid goal intensity on financial performance, nor a significant moderating effect of industry dynamism. These results suggest that while firms may adopt hybrid goals to enhance legitimacy, the intensity of these goals does not necessarily translate into improved financial performance. The study contributes to the understanding of hybrid goals in strategic management and highlights the need for further research on the operationalization and impact of hybrid goal intensity under varying contextual factors.
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Faculteit der Managementwetenschappen