External Business Environment Research Articles

Role of supply chain partnership, cross-functional integration, responsiveness and resilience on competitive advantages: empirical evidence from Palestine

PurposeThe external business environment of the organization is always changing at a rapid pace. For a firm to adapt to changing client requirements, it must implement the right business procedures and strategies. To improve competitive advantage, this study investigates the roles that supply chain partnerships, cross-functional integration, responsiveness and resilience play in achieving competitive advantages in Palestine.Design/methodology/approachIndustrial institutions in Palestine constitute the study population. Data are collected by distributing surveys via Google Forms linked to manufacturers in industries such as the Leather and shoe Industry, metal industries, chemical industries, construction industries, textile industries, stone and marble industries, pharmaceutical industry, veterinary industry, food industry, plastic industry, paper industry, major advantages and disadvantages. The SEM-PLS approach is used to analyze the data.FindingsThe findings demonstrate that supply chain responsiveness, resilience and cooperation are all improved by cross-functional integration in inventory data integration and immediate operation. Supply chain partnerships improve the supply chain’s responsiveness, resilience and competitive advantage by involving partners in work teams and exchanging best practices. The enhancement of supply chain resilience and competitive advantage is influenced by the company’s capacity to act promptly in response to variations in demands.Research limitations/implicationsThis paper faces some limitations and it can be drawn as follows: To enhance supply chain risk management, the study continues to concentrate on manufacturing organizations that have internal integration. It also emphasizes the necessity of supply chain integration, which establishes direct connections with outside partners.Practical implicationsThe findings of this study suggest some policy implications, as follows: To provide the manufacturing sector with a competitive edge, operations supervisors must be able to track and assess processes to ensure they are meeting demand. Firms that possess the ability to adjust to novel procedures or advancements in technology gain a competitive edge by guaranteeing consistent and high-quality delivery of products.Originality/valueBy implementing IT integration, this study theoretically and practically advances the understanding of the resource-based view of competitive advantages. This study focuses on providing insights into the nature of the relationship between supply chain partnership, cross-functional integration, responsiveness and flexibility and competitive advantages in the manufacturing sector in the Palestinian market.

Developing Employees’ Critical Thinking Skills in Malta

Critical thinking is considered one of the most significant competencies that employees need to develop in order for them to contribute to an organisation’s success and productivity. The lack of professional development opportunities aimed at enhancing the critical thinking capacity of employees might be deleterious for organisations seeking to capitalise on this competence as a means of remaining innovative. By means of a conceptual case study of Thinkerly – a business-to-business (B2B) firm offering critical thinking training solutions in Malta – this article considers the firm’s business idea, target customer segment, and competitive external business environment. The hypothetical business proposal analyses the internal and external factors affecting the firm’s performance and evaluates the positioning, strategy and competitive advantage of the bespoke training firm. The primary objective of the conceptual case study is to indicate the main considerations a B2B company needs to take when developing critical thinking training in a specific context. To illustrate how any such proposal is likely to have its limitations, two of the models utilised in the design of Thinkerly’s proposal are subjected to critique.

Does Transportation Infrastructure Construction Enhance Enterprise Innovation Resilience in China?

With increasing uncertainty and ambiguity in the external business environment, the risks and challenges faced by enterprises also increase accordingly; resilience has become a necessary characteristic for the evolution and upgrading of enterprise innovation systems, and improving enterprise innovation resilience becomes the key for enterprises to establish sustainable competitive advantages and achieve sustainable development. Based on the panel data of Chinese listed companies and cities, we employ the common factor method to measure enterprise innovation resilience and explore the impact of transportation infrastructure construction on enterprise innovation resilience. The results reveal that, firstly, enterprise innovation resilience shows an overall upward trend, but there is a certain degree of temporal–spatial and industrial disparity. Secondly, transportation infrastructure construction, represented by HSR opening, can significantly improve enterprise innovation resilience. However, this effect performs the following heterogeneity: (1) Regionally, the promotion effect is more obvious in eastern regions, central cities, and non-central cities within 107 km and 764 km away from the central city. (2) For enterprises, compared to state-owned enterprises and non-high-tech industries, transportation infrastructure construction has a greater effect in non-state-owned enterprises and high-tech industries. (3) The higher the degree of centrality and closeness centrality, the more obvious the promotion effect of transportation infrastructure construction. Finally, mechanism tests show that enterprise resource acquisition and resource allocation abilities are important channels for transportation infrastructure construction, to enhance enterprise innovation resilience.

Conceptualisation and Determination of the Concept of Creating Shared Value: The Results of a Delphi Study

Objective: The purpose of the article is to present the genesis of the concept of Creating Shared Value (CSV), re-conceptualise it, and point out the main dimensions of value creation. In addition, the article describes the existing interdependencies between the various dimensions and the distinct approaches to defining these dimensions. Research Design & Methods: The article presents the results obtained from an expert survey conducted using the Delphi method. The survey allowed us to obtain experts’ opinions on approaches to defining the creation of shared value and its dimensions. Findings: The results obtained suggest a different approach to understanding and defining the concept of CSV and the dimensions of value creation. In the study experts pointed to the connection of the CSV concept with other management theories and concepts in corporate social responsibility and sustainability. They emphasised the role of creating shared value to different stakeholder groups in the complex internal and external business environment. The difficulty of linking company strategy, business models, and activities with social, environmental, or economic goals was pointed out. Implications / Recommendations: The article presents the results obtained from the first part of a study aimed at constructing a tool to measure the creation of shared value. They are the starting point for both the development of the dimensions of the construct and the factors which can be measured to evaluate the creation of social, economic and environmental value in each dimension. Contribution: The article contributes to the understanding of the concept of CSV as a management theory in the context of enhancing the competitive position of organisations and provides a methodological basis for developing a CSV measurement tool.

Product market competition and corporate maturity mismatch: evidence from China

ABSTRACT This paper studies the effect of product market competition on corporate maturity mismatch, aiming to show how market competition influences management decision-making in maturities of financing and investing. Using a sample of non-financial public firms in China over 2007–2021, we find that product market competition is positively associated with corporate maturity mismatch. The motivation for lowering debt costs and the deteriorated firm performance could be potential channels. The effect is more pronounced for non-state-owned firms, firms with higher risk-taking, internationalized firms, and firms in R&D-intensive industries. Firms’ competitive positions are negatively associated with maturity mismatch. Our findings highlight that competition could be an important determinant in maturity mismatch. This study enriches our understanding of maturity mismatch causes and the link to the external business environment and provides implications for management and policymaking.

Application of multi-attribute decision-making method based on fuzzy influence diagram in green supplier selection

The external business environment exhibits many uncertainties with the continuing changes in technological progress, political environment, and consumption behavior. This has made companies recognize the significance of addressing environmental issues to remain competitive in the modern global market. Thus, much attention is given to the supply chain to ensure environmental factors are considered during supplier selection. However, the process of selecting the right suppliers to enable green supply chain management is proving difficult. This paper presents a novel approach using fuzzy influence diagrams to identify key green supplier selection criteria, combined with multi-criteria decision making to evaluate alternatives. The fuzzy influence diagram derives priority supplier capabilities by modeling interrelationships and uncertainties. The multi-criteria technique then ranks suppliers based on prospect values. A case study of furniture manufacturer supplier selection validates the proposed method. Compared to existing models, this integrated approach reduces subjective weight bias and improves handling of complex criteria dependencies and uncertainties. The results demonstrate state-of-the-art performance in identifying ideal green suppliers. This technique can enhance sustainability efforts across supply chains.

PERSONALITY-RELATED DETERMINANTS OF ENTREPRENEURSHIP IN THE LIGHT OF OWN RESEARCH IN THE AGRIBUSINESS SECTOR

The aim of this article is to identify the personality traits that can characterise entrepreneurial people and to determine what they believe to be important in achieving success. Entrepreneurship is defined very broadly in the literature and researchers consider different approaches to this issue. Certainly, being entrepreneurial is a combination of knowledge, passion, hard work and active learning. What is more, in many studies there are hypotheses indicating a correlation between the possession of certain character traits, or even temperament, and the propensity to start a business. In this article, an analysis of the behavioural and attitude approach to entrepreneurship is undertaken, which means that some personal traits and behaviour of the entrepreneurial person are analysed, as well as their perceptions of the issue. A descriptive-inductive method was used, using simple statistical methods. A survey method was used to obtain empirical data. An online survey form was sent to agribusiness entrepreneurs from Poland, the entrepreneurs were randomly selected. The respondents were primarily active in industries such as fruit, vegetable processing, as well as meat. A total of 57 returns were received between January and March 2023. The questionnaire included questions on personality traits that may be conducive to an entrepreneurial attitude, as well as identifying attitudes towards certain management situations. The respondents rated themselves as extroverted and open-minded, confident in their abilities. Most respondents described themselves as sanguines. A number of scientific studies confirm that sanguines and extroverts are the people who are most successful as entrepreneurs. Considering the statements of the respondents, there was a significant difference in the inconsistency of the responses from those labelled choleric and phlegmatic. The most consistent statements were obtained from sanguinis. Sanguinis were the most likely of all respondents to believe in the strength of their predispositions and character traits. Cholerics, due to their explosive nature and not always good decisions, felt that it was appropriate to monotone external factors, as this was the basis for decision-making. As a result of the survey and the literature review, it can be confirmed that entrepreneurial personality traits play an important role when setting up one's own business and also when continuing to manage it, but also an external situation and business environment play an important role in decision-making process. All these factors should be correlated and a good entrepreneur should be able to use his/her strengths to exploit market opportunities. According to the authors of this article, it is necessary to integrate one's personality traits and aptitudes with market information and ongoing monitoring of the industry to achieve success. Key words: personal traits, entrepreneurship, business motives JEL code: Q13, L26

Controlling-based organizational and economic mechanism of enterprise activity planning

In this article, the authors prove how introducing a control system for enterprises will, firstly, increase the level of business controllability and reduce the time for making managerial decisions. Secondly, it will help to control the company's assets and manage costs more effectively. Thirdly, it will significantly increase the profitability of joint-stock companies and ensure risk control and risk mitigation to increase the investment attractiveness of the business. Due to the variety of external and internal factors influencing the organization, there cannot be a one-size-fits-all recommendation for establishing a controlling function within a company. Empirical research shows that the most important influencing factors in controlling an organization are the size of the company and the dynamics of changes in the external business environment. In small enterprises, the chief accountant typically performs the controlling function, whose responsibilities include analytical accounting and budgeting. In larger enterprises, specialized departments are created with various tasks related to coordinating management processes and control. The relationship between control functions and environmental dynamics is quite interesting. In companies operating in a stable environment, the controller is seen as a recorder. In a limited variability of the external environment, the controller performs the role of a navigator, providing the company's departments with the most rational planning and control tools. In a turbulent environment, the number of problems that need to be addressed increases significantly. In such a situation, the controller emerges as an innovator who directly participates in problem-solving. In essence, controlling does not necessarily require a separate controller position. Instead, it implies the presence of specific tasks that the company's executives or management can perform. Initially, it is necessary to determine whether the controlling functions can be distributed among existing departments or if creating an independent controlling department is better.

The Mechanism of International Entrepreneurship to Improve the Innovation Performance of Enterprises: Based on the Perspective of Social Network

In order to avoid the negative impact of external disadvantages and changing international business environments, enterprises have an urgent need to establish an effective social network, seek improvement in innovation performance, and stabilize their position in the international market. This paper conducts an exploratory single case study on the Midea Group, investigates the mechanism of international entrepreneurship to improve enterprise innovation performance based on the formation of multiple social networks, including government network, business network, and technological network, and discovers that in the process of international entrepreneurship, three-dimensional social networks contribute to resource conversion, research and development capability, market share, and other factors that boost corporate innovation performance. This research helps to understand the key elements in the process of international entrepreneurship, as well as how to build a close social network with stakeholders, rationally allocate and share various resources, and improve the international business environment and innovation performance of enterprises.

Company performance model of wholesale carrier service companies in Indonesia: Company capability, co-creation strategy, and external business environment

The goal of the study was to assess how Indonesian ICT companies that provide wholesale carrier services can manage the external business environment and improve their performance with the help of their co-creation strategy and corporate skills. Using partial quadratic structural equation modeling (PLS-SEM) to evaluate the research hypothesis, the study concentrated on 45 Indonesian ICT companies offering wholesale carrier services. The outcomes demonstrated how the company's co-creation strategy and capabilities increased its effectiveness and greatly improved its capacity to negotiate the external business climate. According to these results, enhancing organizational capacities and putting co-creation techniques into practice should be Indonesian ICT enterprises' top priorities if they want to improve performance and successfully navigate the external business environment. Involving consumers, users, or other stakeholders in the design and development of digital goods or services is known as the co-creation strategy. It can happen in a lot of different ways, such hackathons, online platforms, workshops, or prototype sessions.

DEVELOPMENT OF ENTERPRISE STRATEGY IN CURRENT ECONOMIC CONDITIONS

The article is devoted to the development of the company's strategy in modern economic conditions, which would allow to improve the activity and direct the forces to new horizons of doing business with strengthened positions both in the internal and external environment of the company. The difficult situation in the domestic market and European integration require domestic enterprises to search for new effective ones tools for further development and increasing the competitiveness of goods. One of these tools is determining the position of the enterprise and the product or service, as well as effective strategy development. The process of developing an enterprise strategy is described, where everything begins with defining the global mission of the enterprise and goals that are more specific and global for the management process itself. According to this model, the process of strategic management is a certain point of intersection of identified opportunities and threats of the enterprise's external business environment, which are expressed in the form of key success factors, as well as strengths and weaknesses of resource potential, expressed in excellent development capabilities. The vast majority of one or another component in the company's final strategy depends on the level of instability of the company's operating environment. The more changeable and unstable the external environment, the more random creative and creative approach of managers to the assessment of a given situation in the company's strategy. A detailed classification of types of enterprise strategy is given, which includes the content, management decision-making, behavior in the internal and external environment, the level of strategy implementation, and industry directions of the enterprise before developing one or another strategy in modern economic conditions. Four different approaches to the growth of an enterprise with the development of a strategy are analyzed, which are associated with a change in the state of one or more of the following elements: product, market, industry, position within the industry, technology. The development of an enterprise's strategy in modern economic conditions should ensure the orientation and adaptability of the enterprise's actions.

Mediating Factor of Strategy Business in the Relationship between Environmental and Business Performance

The purpose of this study is to examine the impact of the internal and external business environment on the formulation of business strategy, the impact of business strategy on business performance, and the impact of the internal and external business environment on the performance of the Service and Creative Industry Cluster MSMEs in DKI Jakarta. This study employs a quantitative approach to research, collecting data through observation and interviews and processing primary data derived from respondents' questionnaire responses. Using SEM-PLS 3 Version, the validity test, the reliability test, outer loading, the inner model fit (R-Square), the significance test (hypothesis test), and the F-Square Test are then utilized to assess the study data. F-square of 0.409 > f-square of 0.35, the External Environment has a moderate influence on Business Strategy. The moderate influence of the Internal Environment on the Outcome of Small and Medium-Sized Enterprises, as indicated by the F-Square value of 0.29, is accompanied by a modest effect. The finding from this research indicates that the service and creative industry cluster MSME actors in DKI Jakarta formulate business strategies to become Prospector, Analysts, Low-Cost Defender, and Different Defender based on or have different external environmental backgrounds in terms of demography, politics/law, economic conditions, and the technology used to run their respective businesses.

STRATEGIC PLANNING MANAGEMENT IN THE ANTI-CRISIS SITUATION

The leading role in crisis management is the management strategy. It is aimed not only at the problems of overcoming the crisis. The strategy makes it possible to identify and eliminate the real causes of the crisis in a timely manner. First of all, it is necessary to study and evaluate the expediency of the external and internal business environment.This article reveals not only the necessity, but also the importance of anti-crisis management, and also assigns an essential role to anti-crisis strategy in a crisis situation. It is required to draw up a strategic program, outline the specifics of the strategy and, based on this, develop an anti-crisis management plan.The purpose of the article focuses on the research and study of theoretical approaches for further practical application in the formation of a strategic planning and management system at domestic enterprises.The relevance of this article is due to the fact that in order to maintain the existence of competition in the market, all organizations must make changes to their business activities from time to time.The scientific novelty of the research is the presentation of ideas for strategic planning of the enterprise.The object and subject of the study are various aspects, such as: crisis prevention and ensuring the sustainable position of the enterprise. The solution of these aspects is possible with the help of a system of anti-crisis measures. Anti-crisis management of enterprises, problems of a theoretical and methodological nature, issues arising in practice during the period of strengthening the economy.The article identifies and evaluates the obstacles of the strategy in domestic enterprises. The ability to find the right approach to the development of information support, planning and management systems.

Use it or lose it: fiscal year-end corporate investment around the world

PurposeIt is documented that companies and government agencies in the USA invest more in the fourth fiscal quarter without having higher investment opportunities. While previous studies focus on the agency conflicts and information asymmetry within organizations, this study is motivated by Scharfstein and Stein's (2000) two-tiered agency model and aims to examine how firms' external business environment affects the “fourth quarter effect.”Design/methodology/approachThe authors implement this study in a sample of 41 countries and observe similar seasonality in firm investment as documented in the US market.FindingsMore importantly, using country characteristics, this study finds that firms from countries with better investor rights and protection, and more developed financial markets show less severe over-investment in the fourth fiscal quarter.Originality/valueThis paper contributes to the literature of law and finance, and the internal capital market, by investigating the quarterly investment patterns of firms from 41 countries. The authors find that similar to the results in earlier studies on the US market, firms in the global market increase their capital expenditure in the fourth fiscal quarter, indicating that the internal agency conflicts between the headquarters and divisional managers are widespread across the world. The authors also find that firms that operate in countries with higher investor rights and protection, and more developed financial markets, tend to show less severe “fourth quarter effect”.

EXAMING THE MEDIATING ROLE OF KNOWLEDGE MANAGEMENT IN INCREMENTAL INNOVATION SME-ICT

Insightful company leaders increasingly rely on data as their primary source of fresh concepts. Little is known about how improvements in HRM might inspire creativity in the workplace. This research explores the connection between knowledge management abilities and original thought in the context of human resource management policies and practises. Since then, we've expanded our primary data set for the ICT sector of the study to include over 200 small firms in the Klang Valley of Malaysia. To accomplish the aims of the study, adopt a quantitative strategy. The survey method is used to collect data from the heads of ICT SMEs and their top executives. More than two hundred survey responses were collected and evaluated for this study. PLS (Partial Least Squares) analysis was used to check the validity of the hypotheses and models. The intersection of HR and KM is an intriguing research topic, especially in the context of ne Companies must enhance their IT and knowledge management capabilities to fulfil the conflicting demands of exploration and extraction. In order to balance exploratory and exploitative innovations, small and medium-sized firms must take into account both internal and external business environments. Small and medium-sized firms (SMEs) must regularly watch their sector and be quick to respond to changes in order to maintain a competitive edge.In order to stay up with the rapidly evolving business climate, companies must have the appropriate personnel in place. In order to understand the connection between HRM and organizational innovation, this study emphasizes the significance of performance and knowledge management competence. Human resource management to provide long-term benefits. , with product creation. Recent research has established a connection between HRM competencies and worker expertise.

External environment and internal dynamics of “born global”: strategic and operational firm performance

Purpose“Born global firms” are those organizations which, from their inception and by nature, adopt an essentially global-scale entrepreneurial functional and attitudinal strategy for growth. They seek to gain significant competitive advantage by utilizing their internal resources while leveraging external environment potentialities, to sell their outputs internationally. The aim of this research is to investigate the influence of the external business environment and the dynamic capabilities of born global firms, on their strategic and operational performance, as well as the role of leadership vision on their internationalization performance.Design/methodology/approachInitially and resting on extant literature with pertinent foci, including the absorptive capacity and the dynamic capability view theories, a conceptual model is proposed. Subsequently, the model is validated through the partial least square structural equation modeling technique, based on 417 respondents from Indian firms.FindingsThe study concludes that the external business environment and internal dynamic capabilities of born global firms have a significant and positive impact on their strategic, as well as operational performance; with leadership vision playing a significant moderating role to this relationship. The study finally presents the executive implications of the findings and identifies the avenues for further scientific research.Originality/valueThis is a unique study on the topic, both in relation to resources/capabilities versus performance and with regards to the leadership vision's role. It moreover focuses on a primary business force, India, which comprises prime examples of global entrepreneurship. The research constituting a significant contribution to knowledge, as research on how small firms can strategically grow so rapidly and effectively, is still far from conclusive, particularly under the present evolutions that incessantly redefine the contextual business forces upon which strategy is drawn.

Business Continuity Management for Data Outage Disruptor: A Study on a Private Hospital in Negeri Sembilan

The healthcare sector is a sector that faces many threats disrupting its critical services. Hence, the development of a solid plan for service continuity is crucial for the healthcare industry. The goal of this study is to analyse the internal and external business environment of healthcare institutions and determine threats that they are most vulnerable to. Based on the disruptors, thus study developed a Business Continuity Plan (BCP). This is a case study focusing on a private hospital in Negeri Sembilan. The respondents consist of 27 managerial level staffs from different departments. Data was collected using questionnaires. The collected data was on operational services critical operations, internal and external services dependencies. Business Impact Assessment (BIA) is used to assess strategies and solutions based on the supplied disruptors. Results of the BIA are used for the development of Business Continuity Plan for the private hospital.

Credible transition plans for coal power sector: current disclosure framework and considerations for transition finance

The zero-carbon transition of the coal power industry comes with substantial economic costs, both in terms of the cost of stranded assets and the innovation and application of carbon reduction, zero-carbon, and decarbonization technologies. Mobilizing social capital through transition finance is crucial to support companies in their efforts to reduce carbon emissions. The lack of high-quality data and consistent, comparable disclosure frameworks hinders proper due diligence and strategic planning, presenting a major obstacle to financing the transition. To identify the mismatches between existing disclosure frameworks for transition plans and the needs of transition finance, we conducted a systematic review of various transition disclosure frameworks, such as TCFD (Task Force on Climate-Related Financial Disclosures), CA100+ (Climate Action 100+) and TPT (Transition Plan Taskforce), and compared them with the information requirements of financial institutions for assessing coal phase-out plans of production entities. The results indicate that the ex-ante assessment of transition finance requires disclosure frameworks to be further expanded and aligned in areas such as technological distinctions and data quality to meet the demands of pricing, risk management, new product innovation, and disclosure of financial institutions’ carbon footprints in their asset portfolios. Moreover, the implementation of the current disclosure standards by coal power enterprises may encounter dual constraints from soft regulatory practices and the external business environment, resulting in the emergence of the “green silence” phenomenon. The inconsistency between disclosure frameworks may also give rise to regulatory arbitrage, leading to a distorted evaluation of the transition process of coal power enterprises by the capital market, resulting in potential price distortions and credit risks.

The impact of contemporary socio-economic and technological factors on container terminal performance

PurposeThis present study uses political, economic, social, technological, legal and environmental (PESTLE) analysis and the strategic management theory to examine how external factors, namely the coronavirus (COVID-19) pandemic, the industrial revolution (IR) 4.0 technologies, the fuel price crisis and Sultanate of Oman Logistics Strategy (SOLS) 2040, affect the performance of container terminals in Oman.Design/methodology/approachA hybrid decision-making method that combined the analytical hierarchy process technique and Bayesian network model was used to achieve the objective of the present study.FindingsThe COVID-19 pandemic (54.60%) most significantly affected the performance of container terminals in Oman, followed by IR 4.0 technologies (19.66%), SOLS (17.00%) and fuel price crisis (8.74%). Container terminals in Oman were also found to perform “moderately,” considering the uncertainty of external factors.Research limitations/implicationsThis study enriches existing literature by using PESTLE analysis to assess the impact of the external business environment on firm performance in the context of the maritime industry as well as highlights how challenging external environmental factors affect the performance of container terminals in Oman.Originality/valueThis study contributes to developing novel study models and determining the performance level of container terminals in Oman considering integrated uncertainties and external factors such as the COVID-19 pandemic, IR 4.0 technologies, the SOLS 2040 and the fuel price crisis.

ESG IMPACT ON TOBIN'S Q: BUSINESS ENVIRONMENT MODERATION IN CHINESE LISTED CORPORATIONS

This study investigates the intricate interplay between Environmental, Social, and Governance (ESG) performance, Tobin's Q, and the external business environment (BEI) within the context of Chinese listed companies. Employing a comprehensive dataset spanning a specific timeframe, our empirical analysis uncovers significant relationships among these critical variables. Our findings indicate a robust positive correlation between ESG performance and Tobin's Q, reaffirming the value-enhancing impact of sustainable practices. Additionally, we unveil the moderating role of the external business environment, with a favorable BEI amplifying the positive link between ESG performance and Tobin's Q. Theoretical contributions highlight the importance of external contextual factors in shaping these relationships. From a practical standpoint, our insights guide corporate strategies and inform policy considerations. However, this research carries limitations related to sample size, data quality, endogeneity concerns, and causal inference. Despite these limitations, this study contributes to the evolving discourse on ESG, Tobin's Q, and the broader business environment.