The Moderating Effect of Multinationality on Environmental, Social, and Governance and Efficiency: A Strategic Analysis of Multinational Enterprises
研究采用机会约束网络数据包络分析，同时评估跨国企业在运营、研发、盈利和可持续四个维度的效率，发现跨国性负面调节ESG与效率的关系，为跨国企业应对全球复杂性和可持续挑战提供战略指导。
ABSTRACT This study addresses the research gap in assessing multinational enterprises' (MNEs') efficiency across multiple dimensions by employing a novel chance‐constrained network data envelopment analysis. Unlike prior studies that focus on single‐dimensional efficiency, our approach evaluates operating, R&D, profitability, and sustainable efficiencies simultaneously. We find that MNEs in Asia (Europe) excel in operational and R&D efficiencies (profitability and sustainable efficiencies), while MNEs in Europe (Asia) lag behind. By integrating Michael Porter's generic strategies framework, we categorize efficiencies into four quadrants for strategic insights. Furthermore, we examine the nonlinear impact of ESG performance (ESG score and ESG combined score) on efficiency, revealing that multinationality negatively moderates the ESG–efficiency relationship. These findings provide novel insights into how ESG engagement and multinationality influence MNE performance, offering strategic guidance for firms navigating global complexities and sustainability challenges.