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Inaction is Not an Option: ESG and Family Firms

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  • Nupur Pavan Bang
  • Kavil Ramachandran

Abstract

This article analyses how family firms, which constitute India’s dominant ownership category, compare with nonfamily firms in ESG (Environmental, Social, and Governance) goals adoption. To account for heterogeneity within family firms, we investigate the standalone family firms (SFFs) separately from a family business group affiliated firms (FBGFs). Results show that nonfamily firms perform better than family firms in overall ESG and E parameters. Within family firms, FBGFs perform better than the SFFs on S parameters. Our analysis urges the policymakers to create awareness, provide a roadmap, nudge the family firms, and promote action toward being ESG-conscious.

Suggested Citation

  • Nupur Pavan Bang & Kavil Ramachandran, 2025. "Inaction is Not an Option: ESG and Family Firms," Vikalpa: The Journal for Decision Makers, , vol. 50(1), pages 21-36, March.
    • Handle: RePEc:sae:vikjou:v:50:y:2025:i:1:p:21-36
    DOI: 10.1177/02560909241309521
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