Abstract
This study investigates the relationship between environmental, social, and governance maturity, financial performance, and growth dynamics in the logistics sector using cluster analysis. The research is based on panel data from logistics companies operating in Europe, Asia, and North America during the period 2017–2024. The analysis incorporates ESG indicators, profitability measures, capital expenditure, total assets, and multi-year asset growth rates derived from the S&P Global Market Intelligence database. To identify strategic profiles of firms, the k-means clustering method was applied to standardized variables.
The results reveal the existence of three distinct operational models within the logistics sector. The findings confirm that the relationship between ESG and financial performance is non-linear and multidimensional. High ESG maturity may coexist with strong financial performance, but rapid growth and profitability can also occur independently of advanced ESG practices.
The study contributes to the literature on sustainable logistics and ESG by demonstrating the heterogeneity of strategic development paths within the sector. The results provide implications for managers, investors, and policymakers by highlighting the importance of aligning sustainability practices with long-term operational and financial strategies.
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