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<p>This research investigates the influence of ESG practices on the overall performance of service businesses in Thailand. Furthermore, service and international diversification are included as moderating variables to thoroughly examine this relationship. Employing a database of 125 service firms, with a study period spanning 2019–2023. The results indicate that service diversification moderates the relationship between ESG practices and performance of service firms. International diversification, however, negatively moderates the relationship between ESG practices and firm performance in Thai service firms. International diversification reduces this relationship, highlighting institutional complexity and strategic misalignment as major constraints, even while service diversification increases their ability to convert ESG engagement into performance enhancements.</p>

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The moderating role of service and international diversifications on the relationship between ESG practice and firm performance in service businesses

  • 期刊论文

  • 发表日期：

    2026年3月9日

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  • Parichat Sinlapates,
  • Supawat Meeprom,
  • Akkhaporn Kokkhangplu

摘要

This research investigates the influence of ESG practices on the overall performance of service businesses in Thailand. Furthermore, service and international diversification are included as moderating variables to thoroughly examine this relationship. Employing a database of 125 service firms, with a study period spanning 2019–2023. The results indicate that service diversification moderates the relationship between ESG practices and performance of service firms. International diversification, however, negatively moderates the relationship between ESG practices and firm performance in Thai service firms. International diversification reduces this relationship, highlighting institutional complexity and strategic misalignment as major constraints, even while service diversification increases their ability to convert ESG engagement into performance enhancements.