Journal of Bone and Mineral Metabolism

ABSTRACTIn today's business environment, sustainable marketing has become an essential component for small and medium‐sized enterprises (SMEs) aiming to enhance productivity and maintain competitiveness. However, there is a gap in research regarding the critical factors that contribute to the success of sustainable marketing and the importance and interconnections of these factors from experts' perspectives. Thus, this study aims to provide a comprehensive understanding of the complex relationships among factors contributing to the success of sustainable marketing strategies within manufacturing companies. This study extracted 19 success factors crucial to sustainable marketing within Malaysian manufacturing SMEs from the literature and thoughtfully categorized them into technology, organization, environment, human, and social groups. Data was gathered from 26 experts in Malaysian SME manufacturing using a questionnaire. The decision‐making trial and evaluation laboratory (DEMATEL) method was employed to identify the significant factors and reveal cause‐and‐effect relationships among them. The findings showed that perceived benefits, sustainable strategy, natural resources protection, IT knowledge and expertise, and customer demands were crucial factors within technology, organization, environment, human, and social groups, respectively. Meanwhile, the environment group was ranked as the most important dimension influencing sustainable marketing. This study provides valuable insights for researchers, practitioners, and policymakers, offering a foundation to initiate and boost sustainable practices within the organizations.

ABSTRACTEnterprises are increasingly under pressure to respond to volatile market environments and uncertainties. Although higher environmental, social, and governance (ESG) performance facilitates the stabilization of corporate operations, studies provide limited understanding on how ESG performance affects organizational resilience. By analyzing dataset from China's listed enterprises from 2010 to 2023, this research examines the connection between ESG performance and organizational resilience, as well as its influence mechanism. Results evidence that ESG performance significantly increases organizational resilience. In addition, ESG performance promotes organizational resilience by improving ambidextrous innovation capability (AIC). Further analysis indicated that digitalization amplified the positive influence of ESG on financial volatility. Our research determines the value of ESG, AIC, and digitalization in assisting enterprises to develop a resiliency capability to cope with threat and stressful environment. This research offers a novel theoretical perspective through the integration of stakeholder theory and dynamic capability view (DCV) to explore how ESG promotes organizational resilience by releasing the value of its own, AIC and digitalization. It offers practical implications for practitioners to shape strategies to actively embracing ESG practices, nurturing dynamic capabilities, such as AIC and higher degree of digitalization to effectively promote organizational resilience to respond to crises and uncertainty.

ABSTRACTThis paper examines the relationship between water disclosure and firm value within the stakeholder framework. Data were collected from non‐financial companies listed on the FTSE Emerging Asia Pacific index from 2018 to 2022, encompassing 779 observations from seven countries. Using a robust panel regression model, our results indicate that water disclosure positively impacts firm value. Transparent water disclosure not only enhances corporate reputation but also fulfills stakeholders' growing demand for environmental accountability. This study provides empirical evidence that companies' transparent water management enhance their market value, supporting Stakeholder Theory. We also tested the robustness of our findings using sub‐sampling, alternative measurements, and address potential endogeneity issues. Our study uniquely focuses on the specific impact of water disclosure, contrasting previous research on overall corporate social responsibility (CSR) disclosure. This research offers significant theoretical, empirical, and managerial insights into the role of environmental disclosure in business ethics and firm valuation.

ABSTRACTIn the era of rapid technological advancement and growing global challenges, the interaction between sustainability, digital technology (DT), and sustainable development goals (SDGs) presents a vital opportunity for transformative action. This convergence opens doors to innovative solutions for addressing critical environmental and societal issues while advancing economic progress. Therefore, this study aims to explore the intricate relationship between sustainability, digital technology, and SDGs. A systematic literature review and Preferred Reporting Items for Systematic Review and Meta‐Analyses (PRISMA) protocol have been used to comprehend the impact of DT on promoting SDGs across diverse sectors while enhancing sustainability. By analyzing the 141 articles, it could be concluded that achieving sustainability by adhering to the SDGs requires effective integration of DT and a thorough understanding of the policy reforms and SDG knowledge that support both sustainability goals and digitalization. The findings also indicate that achieving the SDGs in the era of digitalization relies on the collective and collaborative ability to leverage digital technology as a crucial tool and resource for positive transformation while mitigating its adverse impacts. Furthermore, the successful integration of DT with SDGs requires a comprehensive approach that encompasses technological innovation, a supportive governance framework, and capacity building.

ABSTRACTThis study investigates how institutional factors, specifically the role of the State, influence corporate ESG performance in emerging markets. Using a dataset of 293 companies operating in sensitive industries from 2017 to 2021, the analysis employs panel data models to assess the impact of State Direct Dominance (SDD), State Indirect Intervention (SII), and State typologies. The results indicate that SDD negatively affects ESG scores, potentially due to increased bureaucracy. Conversely, SII, characterized by mechanisms such as policy incentives and governance support, positively influences ESG outcomes. Additionally, companies operating in predatory States exhibit significantly lower ESG performance, highlighting governance challenges in such environments. This study provides actionable insights for policymakers, managers, and investors to promote sustainable corporate practices in emerging economies. By emphasizing the nuanced impacts of State interventions, the research advances the understanding of institutional dynamics shaping ESG outcomes.

ABSTRACTGreen human resource management (GHRM) has become a proactive strategy to develop an ecological platform in the private sector. Because of stakeholder pressures and regulations, organizations are required to adopt and implement GHRM practices. Current literature indicates that various intervening mechanisms may intensify the role of GHRM practices on employee green behavior (EGB). However, there is a paucity of studies that assessed the role of multiple mediators based on inter‐assessment and prioritization to guide organizations in developing GHRM strategies. This study aims to fill this gap in the literature by examining 10 mediators identified from the literature and recommending the most influential ones based on expert opinions. Furthermore, to address the vagueness of human perceptions of GHRM practices, this study applied the fuzzy set theory and the decision‐making trial and evaluation laboratory method to obtain and analyze expert opinions. The analysis has revealed three key influential mediators out of nine that can positively influence the indirect nexus between GHRM practices and EGB. These three key mediators have the highest prominence and influential scores include environmental strategy (M7), employee environmental commitment (M2), and green organizational culture (M3). The originality of the paper lies in its theoretical, practical, contextual, and methodological contributions.

ABSTRACTSustainability Reporting, which is a non‐financial reporting, is an important practice that includes measuring and reporting the social, environmental, and economic impacts of an organization. The accuracy and transparency of these reports is a crucial factor for consumers and investors. Blockchain technology is seen as a tool that can increase the accuracy and transparency of sustainability reporting by offering a decentralized and transparent system. However, there are barriers to the use and adoption of blockchain technology. Studies reveal technological, institutional, organizational, and environmental factors. Integration issues between different blockchain networks can threaten data integrity and accuracy. In addition, problems such as high energy consumption and low transaction speed can also affect the sustainability of blockchain technology. In the study, the barriers to the use of blockchain technology in sustainability reporting were analysed. For this purpose, the criteria determined were presented to expert opinions and criterion weighting was made with the Fuzzy AHP method. The most important results from the study show that resistance to change, the idea that the system works at a limited capacity, and the lack of trust in the system are the most affecting barriers preventing the adoption of blockchain technology in this space.

ABSTRACTThis study investigates the relationship between environmental, social, and governance (ESG) practices and return on assets (ROA) in Indian companies, focusing on industry‐specific variations. Using 10 years of panel data across resource‐intensive, consumer‐facing, and service sectors, the analysis employs the system generalized method of moments (GMM) for robust estimation. The results reveal a positive overall effect of ESG practices on ROA, with significant differences across industries. The study uses the categorization of resource‐intensive, consumer‐facing, and service industries to examine the differential effects of ESG factors on ROA. However, environmental scores do not significantly impact ROA, suggesting uniform effects across industries. Social scores enhance ROA without notable industry‐specific differences, while governance scores show varying effects, indicating sector‐specific drivers of profitability. The analysis also highlights the moderating effects of industry categories on the ESG–ROA relationship, suggesting that the impact of ESG practices varies across different sectors. The study also considers the economic effects of COVID‐19, highlighting its marginal impact on ROA and the need for resilient financial strategies. However, the moderating effect of COVID‐19 on this relationship was not significant, indicating limited variation in the ESG–ROA dynamics during the pandemic period except in the governance model. These findings suggest that tailored ESG strategies, aligned with industry‐specific challenges, can optimize financial performance. Policymakers and investors are encouraged to focus on sector‐specific ESG practices to better evaluate company performance and formulate effective regulations. This research contributes to the emerging market context by emphasizing the importance of industry‐specific ESG integration for enhancing financial outcomes.

ABSTRACTThe enabling technologies in Industry 4.0 (I4.0) are leading to dramatic transformations of supply chains and helping organizations achieve sustainable development goals. With ever‐increasing pressure from regulators and customers to adopt environment‐friendly business practices, achieving sustainable development goals has become critical for any organization. Thus, the seamless deployment of various enabling technologies in I4.0 is vital for managing and enhancing sustainable supply chain performance (SSCP). Adopting enabling technologies across supply chains and their implications on sustainable performance is an emerging area that needs extensive academic research and lasting attention from the practice. This paper examines the adoption of I4.0's digital technologies in the context of SSCP. Bibliometric literature review (SLR) methodology and bibliometric analysis are conducted to analyze the existing literature in SSCP. Moreover, cocitation network analysis and coword analysis are carried out to determine different themes of the literature. Integrating I4.0's enabling technologies is indispensable for enhancing supply chains' social, economic, and environmental performance. The conceptual framework proposed for realizing SSCP based on the I4.0's enabling technologies is a novel contribution. It encompasses competitive advantages, supply chain strategies, and all three aspects of sustainability across a supply chain. This study suggests a framework that contributes to SSCP by adopting I4.0's enabling technologies. Moreover, it identifies a future scope for quantitative research on the contribution of particular I4.0 technologies in dimensions of sustainable supply chains.

ABSTRACTThe aim of the study is to investigate the evidence of information asymmetry, dynamic connectedness, and volatility spillover among ESG equity indices of emerging market economies. Using Sign bias test and GARCH family models, the study finds that ESG equity indices have a leverage effect, significantly impacted by bad news over good news shock. The study has used FIGARCH model to measure the persistence of long‐memory effects across the emerging market. Further, to ensure the interconnection between ESG equity indices that may arise due to the persistence of long‐memory effects, the stusy has examined estimates of TVP‐VAR, and finds moderate interconnection between ESG equity indices. To be specific, ESG equity indices of the Philippines, Indonesia, Korea, Singapore, and India are more sensitive to receiving any sustainable innovation shocks from Brazil, South Africa, and Mexican ESG indices. The study finds significant bidirectional relationships between the ESG equity indices of “Philippines and Brazil,” “Indonesia and India,” and “South Africa and Mexico” that may lead to the spreading of market contagion in the presence of more substantial leverage effects with a long memory. This research offers insights for investors to consider sustainable equity assets for efficient portfolio diversification, mitigating environmental, social, and governance risks associated with volatility spillovers and dynamic connectedness. Policymakers may refer the findings of the study to design effective ESG regulations, for reducing risk in global financial system. Since the pandemic has produced more economic and financial instability in emerging markets, investors and regulators may pay more attention to return and volatility connectivity among ESG equity indices and financial markets to safeguard investment and restore market stability.

ABSTRACTWhat causes sustainable innovation has been the subject of recent academic and policy debate. This study examines whether the relationship between firm characteristics and sustainable innovation differs in European and non‐European countries with different institutional contexts. Drawing on institutional theory and leveraging data from the 2020 Eurobarometer survey involving 15,000 interviews in 36 European and non‐European countries, multilevel econometric analysis of firms in these countries reveals a robust connection between sustainable innovation and firm‐specific factors and institutional quality. We combine the firm‐level data from Eurobarometer 2020 with multiple sources of country‐level data to measure the impact of institutional quality on ‐sustainable innovation. Using a multilevel logistic regression model the findings indicate that small and medium‐sized enterprises tend to develop more sustainable innovations, and countries with superior institutional quality and institutional trust foster an environment conducive to sustainable innovation. The paper concludes with implications for theory and policy, suggesting how governments can influence the growth and development of sustainable innovation.

ABSTRACTThis research investigates the complex relationships between digital orientation, entrepreneurial competency, and strategic change, and their impact on sustainable business performance. It also explores how sustainable competitive advantage and flexible resources moderate the link between strategic change and sustainable performance outcomes in dynamic business environments. The authors collected survey data from 349 small and medium‐sized enterprises (SMEs) to test the proposed model. They then used partial least squares structural equation modelling (PLS‐SEM) with SmartPLS 4 software to analyze the relationships between the variables. The findings reveal that digital orientation strongly drives strategic change, which in turn strongly enhances sustainable business performance. Digital orientation also directly leads to sustainable performance. Strategic change mediates the relationship between digital orientation and sustainable performance, while entrepreneurial competency partially mediates the effects of digital orientation. Competitive advantage and flexible resources moderately strengthen the link between strategic change and sustainable performance. This study provides novel insights into the complex interplay between digital orientation, entrepreneurial competency, and strategic change, and how these factors jointly contribute to sustainable business performance. The findings also uncover the moderating roles of competitive advantage and flexible resources, offering practical guidance for managers seeking to enhance long‐term organizational success in dynamic environments.