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EMAC 2024 Annual


Unveiling the critical role of marketing department power and firm reputation in the relationship between ESG investments and firm performance
(A2024-119338)

Published: May 28, 2024

AUTHORS

Adnan Yusuf, Deakin University; Bernd Skiera, Goethe-University Frankfurt, Germany

ABSTRACT

We investigate the role of marketing in the relationship between ESG investments and firm performance on a sample of 247 S&P500 firms from 2013 to 2022. Specifically, we address two important questions. First, is the relationship between ESG investments and firm performance contingent upon the power of the marketing department in a firm? Second, what is the mechanism that may explain this relationship? To answer the first question, we show that the relationship between ESG investments and firm performance is strengthened by the marketing department’s power. To answer the second question, we show that firm reputation mediates the relationship between ESG investments and firm performance. These findings provide new insights to marketing scholars and managers with regard to the marketing department’s contribution in enhancing the effect of ESG investments on firm performance, as well as the role of firm reputation in transmitting the positive impact of ESG investments on firm performance.