A novel model linking UN SDGs with international experience and firm performance

Suqin Shen, Sunil Venaik and Peter Liesch

International Business Review, 2024, vol. 33, issue 5

Abstract: Using an Uppsala internationalization framework, informed by upper echelons theory and institutional theory, we investigate the factors associated with a firm’s adoption of Sustainable Development Goals (SDGs) activities and their performance implications. For the period 2010–2020, from a dataset of 2744 Chinese firms, we find that international experience at the top management team (TMT) and firm levels has a positive effect on firm’s commitment to SDGs. TMT international experience is significantly related to all three types of SDG-related activities considered, but the results vary for the depth and breadth of firm internationalization activities. The organizational level SDG regarding innovation has a significant and positive effect on financial performance, but the performance effect is not significant for societal SDGs and other organizational SDGs, and significantly negative for environmental SDGs. Non-market behaviors, alongside market behaviors can be accommodated within an Uppsala internationalization approach, broadening its application, and confirming its contemporaneity in our modern world.

Keywords: SDG-related activities; TMT international experience; Internationalization depth; Internationalization breadth; Financial performance; Uppsala internationalization model (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1016/j.ibusrev.2023.102170

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