DRIVING BUSINESS TOWARDS SUSTAINABLE SUCCESS: THE ROLE OF CORPORATE GOVERNANCE WITH ENVIRONMENTAL AND SOCIAL MANAGEMENT AS MEDIATORS
DOI:
https://doi.org/10.14456/aamr.2025.21Keywords:
Corporate Governance, Environmental Management, Social Management, Business Performance, SustainabilityAbstract
This study aims to explore the mechanisms that drive businesses toward sustainable success, focusing on the roles of Corporate Governance, Environmental Management, and Social Management as intermediary factors. The research utilizes secondary data from SETSMART, a data platform provided by the Stock Exchange of Thailand (SET). The study population comprises companies listed on the SET within the sustainability stock index, with a sample of 516 firms selected from diverse industries. Data analysis was conducted using the statistical tools SPSS and AMOS. The findings suggest that Corporate Governance exerts a positive influence on both Environmental and Social Management practices, as well as on the overall business performance. Furthermore, environmental and social management were found to play a pivotal role in statistically strengthening the relationship between corporate governance and business performance. Nevertheless, successfully implementing ESG (Environmental, Social, and Governance) strategies requires careful consideration of various factors, including policies, regulations, industry-specific characteristics, regional contexts, community needs, and stakeholder demands. Consequently, businesses must tailor their ESG strategies to align with the unique context of their operations to achieve sustainable development objectives.
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