How do ESG pillars impact firms’ marketing performance? A configurational analysis in the pharmaceutical sector

Abstract

Purpose This study aims to contribute to international doctrine by testing how environmental social governance (ESG) pillars can affect marketing performance in the pharmaceutical industry. Design/methodology/approach The authors follow a pioneering approach, using a fuzzy-set qualitative comparative analysis and data from the largest European listed companies belonging to the pharmaceutical industry in 2019. Specifically, the authors contribute to international doctrine by testing how ESG pillars can affect marketing performance by presenting two configurational paths that may help to clarify not only the individual role of the pillars but also how their interrelationships predict marketing performance. Findings The results identify two different causal configurations that lead to higher marketing performance. These configurations allow us to think more carefully about the role of ESG pillars in the pharmaceutical sector. These results could help managers reflect upon and justify their choice to invest in specific ESG pillars, highlighting the importance of the governance pillar. Originality/value To the best of the authors’ knowledge, this study is the first to use configurational analysis to investigate combinations of ESG pillars that lead firms to achieve higher levels of marketing performance.