Impact of ESG Performance on Brand Equity of Local Fast-food Chains in Hong Kong
DOI:
https://doi.org/10.70301/Keywords:
ESG performance, brand equity, fast-food industry, sustainability practices, gender influence, environmental factor, social factor, governance factor, brand awareness, brand associations, brand loyalty, perceived quality, brand imageAbstract
This paper investigates the link between environmental, social, and governance (ESG) performance and brand equity in the fast-food industry in Hong Kong. Using a mixed-methods approach, data was collected from 388 consumers through an online survey and in-person focus group discussions. A conceptual model was developed based on established frameworks to evaluate ESG performance and brand equity of local fast-food chains. The study found a positive correlation between ESG performance and brand equity, emphasizing the importance of ESG practices in strengthening brand reputation. Gender was identified as a significant moderating factor in this relationship. The results highlight the need for local fast-food businesses to prioritize ESG performance for enhancing brand equity. Practical implications extend to businesses, academia, and policymakers, emphasizing sustainable practices for brand building. This research not only addresses the gap in understanding the connection between ESG performance and brand equity in the Hong Kong fast-food industry but also provides valuable insights for shaping future policies and regulatory frameworks. Future research should consider longitudinal studies, diverse contexts and industry-specific variables to further explore ESG performance and brand equity dynamics in the fast-food sector.
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