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We examine (i) the impacts of environmental, social, and governance (ESG) on firm efficiency and (ii) how board gender diversity (BGD) moderates these impacts in mining multinational enterprises (MNCs). We first employ a two‐stage network data envelopment analysis (DEA) approach to estimate eco‐efficiency (EE) and profitability efficiency (PE), and a network‐based ranking model to rank the mining MNCs. Second, we utilize multivariate regression analysis on 294 firm‐year observations of 49 global MNCs spanning from 2016 to 2021 to achieve our research objectives. Based on our findings, it appears that mining MNCs have a bigger room for improvement when it comes to their profitability efficiency than their eco‐efficiency. The DEA average efficiency scores for EE and PE stand at around 83% and 50%, respectively. Moreover, our regression results reveal that ESG significantly and positively influences EE but insignificantly affects PE. Environmental pillar score (EPS), social pillar score (SPS), and governance pillar score insignificantly influence EE, whereas EPS and SPS significantly affect PE. In addition, BGD significantly moderates the effect of ESG on EE. BGD significantly moderates only the impact of SPS on PE. Overall, this study emphasizes the significance of focusing on BGD when examining the relationship between ESG and firm efficiency, which thus provides crucial insights for stakeholders in the global mining industry, including investors, policymakers, and researchers. [ABSTRACT FROM AUTHOR]

This study investigates the moderating influence of the business strategy type on the correlation between environmental, social and governance (ESG) investment and efficiency in the gambling industry. By employing the range directional measure–network data envelopment analysis model, this study focuses on a sample of 29 gambling firms in North America, Europe, Asia and Oceania for the period of 2019–2022. Findings show that (i) the gambling industry demonstrates steadily increasing trends in the three ESG pillars; (ii) the gambling firms in Asia outperform their counterparts in North America across the three ESG pillars, and among the industry classifications, the betting operators lead in performance in the ESG pillars; and (iii) the adoption of an aggressive business strategy will enhance the translation of social responsibility investment and governance practices into heightened sustainability efficiency and marketability efficiency, respectively. Overall, this study enriches the ESG investment literature by exploring the moderating role of the business strategy type and provides insights into how diverse business strategies within the gambling industry can shape the outcomes of ESG initiatives. The implications of the findings extend to management teams and offer valuable insights into the interplay between the business strategy type and the ESG–firm efficiency nexus. Policymakers can leverage the results to design regulations and incentives that align with the different strategic profiles adopted by gambling firms to foster the creation of tailored and effective approaches for strengthening their sustainability in the industry. [ABSTRACT FROM AUTHOR]

Insurance penetration rate in Malaysia is low at only between 40% and 50%. Following the government's policy goal of increasing the rate, this study examined metafrontier Malmquist productivity index (MMPI) and drivers of the MMPI among Malaysian insurers. Over the 2009–2017 period, general insurers and life insurers were technology leaders. General insurers had progressive productivity (MMPI) on average, whereas the MMPI values of the life and general insurers and life insurers were in deterioration. Overall, long-term strategic planning and capital investment alongside government's liberalization to increase competition in the industry are thus necessary. [ABSTRACT FROM AUTHOR]

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. [ABSTRACT FROM AUTHOR]

Assessing university resource allocation or misallocation is necessary to understand its impact on research and teaching productivity. To achieve this insight, this study conducts a two-stage data envelopment analysis to judge the "teaching and research efficiency" and "revenue efficiency" of 61 universities in Vietnam. We analyze what variables have the most effect on the efficiencies of the universities through improving results. Moreover, this research applies scale elasticity to distinguish the benchmark performance leader among Vietnam universities. Results indicate that universities are more efficient in terms of "revenue efficiency" than "teaching and research efficiency." The scale elasticity decomposition findings show that multidisciplinary universities perform better than those specializing in science and technology and social science and economics. Finally, the competitive map to performance advancement strategies is exhibited. This map helps the university management to enhance their efficiencies.

We examine whether and how research and development (R&D) mediates the association between environmental, social, and governance (ESG) pillars and corporate efficiency among companies within the supply chain of Microsoft Corporation from 2012 to 2020. An estimation of corporate efficiency using data envelopment analysis (DEA) indicates that companies should first improve their innovational efficiency (mean DEA score = 0.371), then operational efficiency (mean DEA score = 0.659), and finally profitability efficiency (mean DEA score = 0.695). Moreover, a mediation analysis confirms the mediating role of R&D intensity. Overall, R&D should be one of the spotlights in the supply chain amidst the highlights on ESG in this dynamic and challenging business world for companies to achieve sustainable development goals. [ABSTRACT FROM AUTHOR]

Although environmental, social, and governance (ESG) have been recognized for its overall impact on firm efficiency, research on the effects of the three main and multiple sub elements of ESG, especially in the airline industry, has been lacking. Thus, we analyze the impacts of overall ESG, its three main elements, and each sub elements of ESG on the firm efficiency of 29 suppliers, partners, and customers of Japan Airlines over the period of 2013–2022. First, we employ a two‐stage hierarchical network data envelopment analysis (DEA) technique that assesses the interrelationships and interdependencies among the supply chain players in contributing toward achieving their respective operating and profitability efficiencies. Second, we run ordinary least squares regression analyses with 5000 bootstrap replications and determine that overall ESG and its three main elements are positively linked with firm efficiencies. The sub elements of ESG have different impacts on firm efficiencies. That is, resource use and environmental innovation under the Environmental element and human rights and product responsibility under the Social element show significantly positive associations with firm efficiencies. All Governance sub elements positively affect firm efficiencies. The outcomes of this study will be valuable for managers at Japan Airlines and other policymakers within its supply chain because it highlights the importance of focusing on the three main and sub elements of ESG and employing the accurate firm efficiency measurement method when interrelationships and interdependencies of decision‐making units exist. [ABSTRACT FROM AUTHOR]

This study explores the impact of environmental, social, and governance (ESG) factors on corporations by investigating how board gender diversity moderates the relationship between ESG practices and corporate performance across different regions. Using traditional data envelopment analysis (DEA) and chance‐constrained DEA models, the study analyzes 225 financial service firms over an 11‐year period (2011–2021). Results indicate that high (low) board gender diversity levels significantly influence the connection between the environmental (social) aspects of ESG practices and corporate performance. Thus, the roles of stakeholder engagement and regional distinctions are highlighted in achieving sustainable development goals. [ABSTRACT FROM AUTHOR]

Generic data envelopment analysis (DEA) models are based on deterministic input and output. However, input and output vectors are often interrupted by random factors, such as measurement errors and data noise, in real economic situations. This study proposes a new chance-constrained network DEA model based on the modified directional distance function (DDF) and enhanced Russell measure (ERM) model for assessing government management and culture-led urban regeneration. In addition to exploring the randomness of data, this study integrates the advantages of both ERM and DDF and considers the inefficiency level from a non-oriented viewpoint, the direction vector, and each input and output simultaneously. Each input and output of the two production stages can use non-radials to measure efficiency. Results show that the urban-rural gap has gradually widened since 2015. To validate the legitimacy of the model, this study utilizes the bootstrapping method to verify the results of the stochastic network DEA model and the conventional two-stage network DEA approach. This study also considers different alpha values as basis for comparison to confirm whether the results obtained differ by uncertainty level. [ABSTRACT FROM AUTHOR]

This study investigates the link between semiconductors and sustainability, focusing on their role in advancing energy sustainability from 1999 to 2023. Key research trends, collaboration patterns, and the evolving role of semiconductors in addressing energy sustainability challenges are identified. Semiconductor research significantly contributes to the United Nations' sustainability goals, particularly in improving energy efficiency and promoting clean energy. The analysis reveals the predominance of primary research articles, highlighting the field's interdisciplinary nature with major contributions from engineering and physics. Network visualization illustrates extensive global collaboration among institutions, with key players like the Chinese Academy of Sciences, MIT, and Stanford University. Clustering analysis identifies critical themes in semiconductor research, including manufacturing improvements, advanced materials, and sensing technologies. This study underscores the necessity for interdisciplinary and global collaboration to address sustainability challenges, paving the way for future innovations and sustainable practices in the semiconductor industry. [ABSTRACT FROM AUTHOR]

This paper utilizes network data envelopment analysis and the second-order cone programming approach to evaluate the performance of 20 Taiwanese local governments (which consist of 6 municipal governments and 14 non-municipal governments). We first explore the fiscal policies in local governments using non-parametric methods. Second, this study develops an innovative two-stage process to measure the effects of fiscal policies to economic efficiency and fiscal effectiveness of 20 local governments for from 2010 to 2016. Several findings are summarized as follows. (1) Non-parametric results reveal that current and capital expenditures, as well as tax and non-tax revenue of municipal governments, were higher than non-municipal governments. (2) The municipal governments have a higher economic efficiency level and fiscal effectiveness yearly and on average based on the two-stage efficiency scores. Overall, empirical results provide insights to local governments on the efforts to integrate resources that will exert a synergistic effect on governance performance. To mitigate economic problems arising from increasing fiscal deficits, it is recommended to implement forward-looking policies and allocate government funds wisely during the early expansion stage. This can be achieved by analyzing tax systems and adopting fiscal policies that boost tax revenue and enhance overall fiscal effectiveness. [ABSTRACT FROM AUTHOR]