How do ESG pillars impact firms' marketing performance? A configurational analysis in the pharmaceutical sector
This study is the first to employ configurational analysis to investigate combinations of ESG pillars that lead firms to achieve higher levels of marketing performance. In this pioneering approach, using a fuzzy-set qualitative comparative analysis (fs-QCA) and data from the largest European listed companies belonging to the pharmaceutical industry in the year 2019, our results identify two different causal configurations that lead to higher marketing performance.
These configurations allow us to think more carefully about the role of ESG (Environmental Social Governance) pillars in the pharmaceutical sector. Specifically, we contribute to international doctrine by testing how ESG pillars can affect marketing performance by presenting two configurational paths that may help not only to clarify the individual role of the pillars but also how their interrelationships predict marketing performance. Finally, our results could help managers reflect upon and justify their choice to invest in a specific ESG pillars, highlighting the importance of the G pillar.