Exploring ESG Perceptions through Firm Demographics: A Quantitative Study in V4 SMEs
Volume 03 Issue 2
Authors
Michal Erben
Keywords
ESG, SMEs, Firm Demographics, V4, Sectoral Differences
Citation in APA style
Erben, M. (2025). Exploring ESG Perceptions through Firm Demographics: A Quantitative Study in V4 SMEs. Journal of Business Sectors, 3(2), 46–58. https://doi.org/10.62222/QTEJ2856
DOI
Abstract
Research background:
ESG principles are increasingly integral to corporate strategy, particularly within the European Union. While large corporations often have the capacity to meet ESG requirements, SMEs face structural limitations. In the context of the V4 countries, there is limited empirical evidence on how firm demographics influence ESG perception and implementation.
Purpose of the article:
The article aims to analyze how firm size, sector, and business duration shape SMEs’ perceptions of ESG and its three pillars. The study seeks to quantify these relationships and provide insights into demographic determinants of ESG alignment.
Methods:
A quantitative survey was conducted in February 2024 using the CAWI method across SMEs in the Czech Republic, Slovakia, Hungary, and Poland. A total of 1,320 responses were collected and evaluated using correlation analysis and linear regression modelling. ESG attitudes were measured on a 5-point Likert scale, and statistical tests were conducted at a 5% significance level.
Findings & Value added:
Firm size, sector, and age were statistically significant predictors of ESG perception, though the explained variance was modest. Larger firms showed consistently stronger alignment with ESG—particularly in environmental and social dimensions—while older firms expressed lower support, possibly due to legacy constraints. Sectoral differences were most notable in environmental and governance perceptions, with manufacturing firms demonstrating higher engagement. Governance was less sensitive to firm demographics, suggesting it may be perceived as a baseline compliance requirement. The findings highlight the need for differentiated ESG frameworks and support mechanisms tailored to SMEs’ capacities and sectoral contexts. This study contributes to ESG literature by offering new evidence from the V4 region and suggesting policy directions for more inclusive sustainability practices.