Volume 20, Number 2, December 2025
| The Association among Public Family Businesses, Sustainability Committees, and ESG Performance |
Abstract
Prior research offers mixed evidence on the commitment of public family businesses (PFBs) to sustainability. While sustainability committees (SCs) are instrumental in advancing corporate sustainability objectives, the propensity to establish SCs may differ between PFBs and non-PFBs. Moreover, the effectiveness of SCs in improving ESG performance, particularly when composed of highly specialized members, remains an open empirical question. This study examines the association among PFBs, SCs, and ESG performance from 2016 to 2023. Results reveal that PFBs are more likely to establish SCs, firms with SCs perform better in ESG, and higher SC specialization is positively associated with ESG outcomes.
Keywords: Public Family Business, Sustainability Committees, ESG Performance, Sustainability Committee Specialization.
JEL Classification: L21, M14