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Environmental Social and Governance reporting, marketing spend and managerial ability

Abstract

Chief Marketing Officers (CMOs) are increasingly now being asked to evaluate the impact of social responsibility, sponsorship and more importantly, Environmental and Social governance (ESG) issues (The Australian Financial Review 2021; The Economist 2022).  Unfortunately, to date there is little guidance to be provided to the practitioners by researchers on how ESG strategies and impacts of company actions influence the financial value of the firm (Fabiana Negrin and Dieter 2020; McGugan 2022; The Australian Financial Review 2021). CMOs are increasingly also being asked to justify the financial impacts of strategic choices and recommendations they provide (Cheong et al. 2021; Ferrell 2021; Stocker et al. 2021; Wall Street Journal 2022).  This is particularly important for an area of ESG investment funds, estimated to be around $100 trillion US (Serafeim and Yoon 2022), and where there is controversy that firms are actually doing what they say they are doing (McGachey 2022; McGugan 2022; The Australian Financial Review 2021).

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