We examine the association between environmental, social, and governance (ESG) and firm performance, taking into account the influence of power distance (PD) cultural orientation among 38 leading technology‐driven global companies between 2017 and 2021. First, we establish an internal network structure through a chance‐constrained network data envelopment analysis (NDEA) model to analyze the R&D investment and eco‐business efficiencies of our sample companies. Among the average DEA score results, eco‐business efficiencies performed better with after COVID‐19 than R&D investment performance. Second, we conduct a truncated regression analysis and find that PD positively (negatively) moderates the impact of social (environmental and governance) factors on R&D investment efficiency (eco‐business efficiency). Overall, we highlight strategic ESG toward their sustainability business success and underline the specific NDEA application in assessing the efficiencies of innovative industries.

中文翻译：

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COVID-19 大流行期间的环境、社会和治理、公司绩效以及权力距离文化价值的调节作用


我们研究了 2017 年至 2021 年间 38 家领先的技术驱动型全球公司的环境、社会和治理 (ESG) 与公司绩效之间的关联，同时考虑了权力距离 (PD) 文化取向的影响。通过机会约束网络数据包络分析（NDEA）模型构建网络结构，分析样本公司的研发投入和生态商业效率。在平均 DEA 评分结果中，Covid-19 后的生态企业效率表现优于研发投资表现。其次，我们进行截断回归分析，发现PD正（负）调节社会（环境和治理）因素对研发投资效率（生态商业效率）的影响。总体而言，我们强调战略 ESG 有助于其可持续发展业务的成功，并强调 NDEA 在评估创新行业效率方面的具体应用。