ESG Performance and National Culture
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2023-06-29
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en
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Abstract
The research question is “What is the effect of Hofstede cultural dimensions on ESG performance?” which was answered with a qualitative analysis. Data on over 11 thousand companies was collected from Refinitiv Eikon database to test 6 hypotheses of the effect of Hofstede’s national culture dimensions on ESG Performance. ESG performance was measured as the ESG Combined Score gathered from the dataset and the national culture dimension values were collected from geerthofstede.com. Stata was used to statistically analyse the data by running 6 separate regression models.
The results showed that power distance decreases ESG performance, being uncertainty avoidant increases ESG performance, being individualistic increases ESG performance, being masculine decreases ESG performance, being oriented towards long-term goals decreases ESG performance, indulgence increases ESG performance. The results are relevant for the researchers and regulators that are looking for incentives to enhance stakeholder management strategies and improve organisational legitimacy by implementing better ESG activities.
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Faculteit der Managementwetenschappen