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Strategic corporate sustainability performance of Chinese state-owned listed firms: A meta-frontier generalized directional distance function approach

Authors
Journal
The Social Science Journal
0362-3319
Publisher
Elsevier
Identifiers
DOI: 10.1016/j.soscij.2013.07.010
Keywords
  • Corporate Sustainability Performance
  • Generalized Directional Distance Function
  • Chinese State-Owned Listed Firms
  • Data Envelopment Analysis
  • Meta-Frontier Approach
Disciplines
  • Social Sciences

Abstract

Abstract Although sustainability recently became a key factor in social science, little progress has been made toward improving the measurement of sustainability performance. This paper proposes composite corporate sustainability performance indicators using a meta-frontier generalized directional distance function. This advanced approach can measure the efficiency of corporate social responsibility activities by benchmarking, while simultaneously considering industrial heterogeneities, using the meta-frontier approach. First, we propose the concept of a meta-frontier generalized directional distance function. Second, several standardized composite indicators related to corporate sustainability performance are developed. The meta-frontier directional distance function is estimated by solving a series of data envelopment analysis models. Chinese state-owned listed enterprises are then empirically examined using the proposed model. We find significant group heterogeneities in terms of corporate sustainability performance. We also derive some policy implications using the empirical results.

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