Taking
pharmaceutical manufacturing companies listed in Shanghai and Shenzhen A-share
in 2021 as a sample, this paper explores the synergistic effects and driven
paths of ESG and five dimensions of executive team heterogeneity on corporate
performance by applying fuzzy-set Qualitative Comparative Analysis (fsQCA).
This paper finds that: 1) A single factor is not necessary to drive corporate
performance, and there is asymmetry in the impact of each antecedent condition on corporate performance; 2) There are three driven
paths for high corporate performance: ESG-driven path, social
interaction-driven path, and team conflict-driven path.
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