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Impact of environmental, social, and governance (ESG) on productivity of major air cargo integrators

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  • Hong, Seock-Jin
  • Zhang, Anming
  • Caliskan, Ferhat
  • Idug, Yavuz

Abstract

This study investigates the impact of Environmental, Social, and Corporate Governance (ESG) on the productivity of major air cargo integrators: DHL, FedEx, and UPS. It employs a two-stage method to assess their performance. In the first stage, a non-parametric free disposal hull approach, combined with principal component analysis, estimates the technical productivity of the integrators. The second stage utilizes dynamic panel regression to analyze the influence of ESG factors and external variables on productivity. The results indicate that DHL has demonstrated more efficient performance over time, while UPS has shown less efficiency. Additionally, the study evaluates the effects of ESG factors on productivity, revealing that greenhouse gas emissions and accident rates have a positive impact. Conversely, external factors, such as air freight rates and the COVID-19 pandemic, negatively affect productivity. Managing ESG initiatives is particularly challenging due to rapid industry growth and various external influences.

Suggested Citation

  • Hong, Seock-Jin & Zhang, Anming & Caliskan, Ferhat & Idug, Yavuz, 2025. "Impact of environmental, social, and governance (ESG) on productivity of major air cargo integrators," Transport Policy, Elsevier, vol. 167(C), pages 295-306.
    • Handle: RePEc:eee:trapol:v:167:y:2025:i:c:p:295-306
    DOI: 10.1016/j.tranpol.2025.03.034
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