Research Component 3
This component examines the effectiveness of ESG efforts of corporations from the perspective of retail clients and consumers. Using survey and experimental design in the field of consumer psychology, this component will evaluate the role of ESG efforts of listed firms in creating ESG intelligence from the consumers’ perspective. Previous research has indicated that consumers and retail clients place high importance on the environmental and social aspects of products in terms of their materials, ingredients, and production processes. We believe that additional brand value and trust from consumers are generated by the ESG performance of firms.
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Role and Impact of Research Component 3: A recent global CSR survey indicates that consumers are “likely to have a positive image (93%), are more likely to trust (90%), and are more loyal to (88%) companies that support social and environmental issues” (Cone Communications, 2015, p. 8). However, despite much research efforts from the perspective of firms, there is still limited literature on ESG from the perspective of consumers, especially given that consumers play an increasing and more important role in achieving sustainable development. To this end, this research component will integrate the value of consumer attitudes and behaviors towards firms’ ESG activities in forming our overall ESG intelligence.
This research component will help companies realize how consumers perceive the ESG information, especially on environmental and social initiatives, which should be an integral part of the overall ESG intelligence. Our research will be one of the earliest large-scale projects in Asia to explore the consumer perspective of ESG efforts. We strongly believe that the outcomes of the research are significant for academic research leading to publications in the areas of consumer psychology, management and marketing, and business ethics.
