The link between digital maturity and sustainability performance in Hungarian SMEs
Abstract
Our research explores the relationship between the digital maturity of small and medium-sized enterprises (SMEs) and their sustainability performance. By incorporating text mining techniques to visualise sustainability, we expand the Online Presence Maturity (OPM) framework, which links corporate competitiveness and online presence. Sustainability performance will be analysed using available environmental, social, and governance (ESG) metrics, as well as primary ESG keywords and their associated connotations. We examine the digital maturity of companies that emphasise sustainability and effectively communicate this commitment, considering industry, size, and geographic characteristics. Our results reveal a positive relationship between the sustainability performance of SMEs’ websites and their level of digital maturity. By analysing the relationship between the presentation of key areas of sustainability performance on corporate websites and the level of corporate digital maturity, we aim to provide deeper insights that can help better manage sustainability initiatives, facilitate ESG transition, and strategically integrate digital resources.
References
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SZERB LÁSZLÓ–RIDEG ANDRÁS–KRUZSLICZ FERENC–MÁRKUS GÁBOR–LUKOVSZKI LÍVIA–KRABATNÉ FEHÉR ZSÓFIA–HORNYÁK MIKLÓS–HORVÁTH KRISZTINA [2019]: Kompetencia-alapú versenyképesség-mérés és -elemzés a magyar kisvállalati (mKKV) szektorban. RIERC kutatási beszámoló # 2019/001. PTE-KTK Regionális Innováció- és Vállalkozáskutatási Központ, Pécs.
SZERB LÁSZLÓ–HORNYÁK MIKLÓS–KRABATNÉ FEHÉR ZSÓFIA–RIDEG ANDRÁS [2023]: Magyarországi városrégiók versenyképességének mérése és elemzése. Közgazdasági Szemle, 70. évf. 2. sz. 119–148. o. https://doi.org/10.18414/KSZ.2023.2.119.
TSCHOPP, D.–HUEFNER, R. J. [2015]: Comparing the evolution of CSR reporting to that of financial reporting. Journal of Business Ethics, 127. évf. 565–577. o. http://dx.doi.org/10.1007/s10551-014-2054-6.
WIDAD, F.–LOTFI, C.–NAOUFAL, S. [2022]: Corporate social responsibility performance index model from stakeholder’s perspective: case of an industrial company. Total Quality Management & Business Excellence, 33. évf. 13–14. sz. 1526–1546. o. https://doi.org/10.1080/14783363.2021.1974828.
WILLIAMS, S.–SCHAEFER, A. [2013]: Small and medium-sized enterprises and sustainability: Managers’ values and engagement with environmental and climate change issues. Business Strategy and the Environment, 22. évf. 3. sz. 173–186. o. https://doi.org/10.1002/bse.1740.
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BECKER-OLSEN, K. L.–CUDMORE, B. A.–HILL, R. P. [2006]: The impact of perceived corporate social responsibility on consumer behaviour. Journal of Business Research, 59. évf. 1. sz. 46–53. o. https://doi.org/10.1016/j.jbusres.2005.01.001.
BERG, F.–KÖLBEL, J. F.–RIGOBON, R. [2022]: Aggregate Confusion: The Divergence of ESG Ratings. Review of Finance, 26. évf. 6. sz. 1315–1344. o. https://doi.org/10.1093/rof/rfac033.
BOCKEN, N. M. P.–SHORT, S. W.–RANA, P.–EVANS, S. [2014]: A literature and practice review to develop sustainable business model archetypes. Journal of Cleaner Production, 65. évf. 42–56. o. http://dx.doi.org/10.1016/j.jclepro.2013.11.039.
BOWEN, F. E.–NEWENHAM-KAHINDI, A.–HERREMANS, I. M. [2010]: When suits meet roots: The antecedents and consequences of community engagement strategy. Journal of Business Ethics, 95. évf. 2. sz. 297–318. o. https://doi.org/10.1007/s10551-009-0360-1.
BRAMMER, S.–HE, H.–MELLAHI, K. [2015]: Corporate social responsibility, employee organizational identification, and creative effort: The moderating impact of corporate ability. Group & Organization Management, 40. évf. 3. sz. 323–352. o. http://dx.doi.org/10.1177/1059601114562246.
BRENNER, B.–HARTL, B. [2021]: The perceived relationship between digitalization and ecological, economic, and social sustainability. Journal of Cleaner Production, 315. évf. https://doi.org/10.1016/j.jclepro.2021.128128.
CARTER, C. R.–ROGERS, D. S. [2008]: A framework of sustainable supply chain management: Moving toward new theory. International Journal of Physical Distribution & Logistics Management, 38. évf. 5. sz. 360–387. o. https://doi.org/10.1108/09600030810882816.
CHENG, B.–IOANNOU, I.–SERAFEIM, G. [2014]: Corporate social responsibility and access to finance. Strategic Management Journal, 35. évf. 1. sz. 1–23. o. https://doi.org/10.2139/ssrn.1847085.
DEMARTINI, M.–EVANS, S.–TONELLI, F. [2019]: Digitalization Technologies for Industrial Sustainability. Procedia Manufacturing, 33. évf. 264–271. o. https://doi.org/10.1016/j.promfg.2019.04.032.
DUAN, K.–QIN, C.–MA, S.–LEI, X.–HU, Q.–YING, J. [2025]: Impact of ESG disclosure on corporate sustainability. Finance Research Letters, 78. évf. 107134. https://doi.org/10.1016/j.frl.2025.107134.
EUROPEAN COMMISSION [2021]: An SME strategy for a sustainable and digital Europe. https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:52020DC0103.
FREEMAN, R. E. [1984]: Strategic Management: A Stakeholder Approach. Pitman, Boston, MA.
GUEST, D. E. [2017]: Human resource management and employee well‐being: Towards a new analytic framework. Human Resource Management Journal, 27. évf. 1. sz. 22–38. o. https://doi.org/10.1111/1748-8583.12139.
HAHN, R.–REIMSBACH, D.–SCHIEMANN, F. [2014]: Organizations, stakeholders, and sustainability: A sensemaking perspective on the adoption of sustainability-related statements. Journal of Business Ethics, 125. évf. 2. sz. 297–316. o.
HEEMSBERGEN, L. [2016]: From radical transparency to radical disclosure: Reconfiguring (in)voluntary transparency through the management of visibilities. International Journal of Communication, 10. évf. 138–151. o. https://doi.org/10.1932–8036/20160005.
HORNYÁK MIKLÓS [2017]: Digital Presence Index for the Examination of Small and Medium sized Businesses in Takáts, I. (ed.): Management, Enterprise and Benchmarking in the 21st Century: Global challenges, local answers. Óbuda University, Budapest, 121–133. o.
HORNYÁK MIKLÓS–KRUZSLICZ FERENC–LÁNYI BEATRIX [2023]: A kis- és középvállalatok digitális transzformációja – az online jelenlét és a versenyképesség összefüggései. Közgazdasági Szemle, 70. évf. 5. sz. 517–543. o. https://doi.org/10.18414/KSZ.2023.5.517.
IGNATOV, K. [2023]: When ESG talks: ESG tone of 10-K reports and its significance to stock markets. International Review of Financial Analysis, 89. évf. 102745. https://doi.org/10.1016/j.irfa.2023.102745.
LEE, J.–KIM, M. [2023]: ESG information extraction with cross-sectoral and multi-source adaptation based on domain-tuned language models. Expert Systems with Applications, 221. évf. 119726. https://doi.org/10.1016/j.eswa.2023.119726.
LINDGREEN, A.–SWAEN, V.–JOHNSTON, W. J. [2009]: Corporate social responsibility: An empirical investigation of U.S. organizations. Journal of Business Ethics, 85. évf. 2. sz. 303–323. o. https://doi.org/10.1007/s10551-008-9738-8.
MALESIOS, C.–DE, D.–MOURSELLAS, A.–DEY, P. K.–EVANGELINOS, K. [2021]: Sustainability performance analysis of small and medium-sized enterprises: Criteria, methods and framework. Socio-Economic Planning Sciences, 75. évf. 100993. https://doi.org/10.1016/j.seps.2020.100993.
MOHAMMAD, W. M. W.–WASIUZZAMAN, S. [2021]: Environmental, Social and Governance (ESG) disclosure, competitive advantage and performance of firms in Malaysia. Cleaner Environmental Systems, 2. évf. 100015. https://doi.org/10.1016/j.cesys.2021.100015.
OECD [2021]: The Digital Transformation of SMEs. OECD Studies on SMEs and Entrepreneurship. OECD Publishing, Párizs. https://doi.org/10.1787/bdb9256a-en.
PATARA, S.–DHALLA, R. [2022]: Sustainability reporting tools: Examining the merits of sustainability rankings. Journal of Cleaner Production, 366. évf. 132960. https://doi.org/10.1016/j.jclepro.2022.132960.
PELOZA, J.–SHANG, J. [2011]: How can corporate social responsibility activities create value for stakeholders? A systematic review. Journal of the Academy of Marketing Science, 39. évf. 1. sz. 117–135. o. https://doi.org/10.1007/s11747-010-0213-6.
PORTER, M. E.–VAN DER LINDE, C. [1995]: Toward a new conception of the environment-competitiveness relationship. Journal of Economic Perspectives, 9. évf. 4. sz. 97–118. o. https://doi.org/10.4324/9781315188010-32.
REVELL, A.–STOKES, D.–CHEN, H. [2010]: Small businesses and the environment: Turning over a new leaf? Business Strategy and the Environment, 19. évf. 5. sz. 273–288. o. https://doi.org/10.1002/bse.628.
RONALTER, L. M.–BERNARDO, M. [2023]: Integrated management systems and sustainability – a review on their relationships. Total Quality Management & Business Excellence, 34. évf. 11–12. sz. 1438–1468. o. https://doi.org/10.1080/14783363.2023.2178407.
SAVASTANO, M.–ZENTNER, H.–SPREMIĆ, M.–CUCARI, N. [2022]: Assessing the relationship between digital transformation and sustainable business excellence in a turbulent scenario. Total Quality Management & Business Excellence, 1–22. o. https://doi.org/10.1080/14783363.2022.2063717.
SCHERER, A. G.–PALAZZO, G. [2011]: The new political role of business in a globalized world: A review of a new perspective on CSR and its implications for the firm, governance, and democracy. Journal of Management Studies, 48. évf. 4. sz. 899–931. o. http://dx.doi.org/10.1111/j.1467-6486.2010.00950.x.
SECUNDO, G.–SCHENA, R.–RUSSO, A.–SCHIAVONE, F.–SHAMS, R. [2022]: The impact of digital technologies on the achievement of the Sustainable Development Goals: evidence from the agri-food sector. Total Quality Management & Business Excellence, 1–17. o. https://doi.org/10.1080/14783363.2022.2065981.
SEN, S.–BHATTACHARYA, C. B. [2001]: Does doing good always lead to doing better? Consumer reactions to corporate social responsibility. Journal of Marketing Research, 38. évf. 2. sz. 225–243. o. https://doi.org/10.1509/jmkr.38.2.225.18838.
SHANG, Y.–RAZA, S. A.–HUO, Z.–SHAHZAD, U.–ZHAO, X. [2023]: Does enterprise digital transformation contribute to the carbon emission reduction? Micro-level evidence from China. International Review of Economics and Finance, 86. évf. 1–13. o. https://doi.org/10.1016/j.iref.2023.02.019.
SME ENTERPRIZE [2021]: Fostering Sustainability in Small and Medium-sized Enterprises. Generali SME EnterPRIZE White Paper. https://www.sme-enterprize.com/wp-content/uploads/2021/09/SME-EnterPRIZE-White-Paper.pdf.
SMITH, A.–VOSS, J. P.–GRIN, J. [2010]: Innovation Studies and Sustainability Transitions: The Allure of the Multi-Level Perspective and Its Challenges. Research Policy, 39. évf. 4. sz. 435–448. o. http://dx.doi.org/10.1016/j.respol.2010.01.023.
SZERB LÁSZLÓ–RIDEG ANDRÁS–KRUZSLICZ FERENC–MÁRKUS GÁBOR–LUKOVSZKI LÍVIA–KRABATNÉ FEHÉR ZSÓFIA–HORNYÁK MIKLÓS–HORVÁTH KRISZTINA [2019]: Kompetencia-alapú versenyképesség-mérés és -elemzés a magyar kisvállalati (mKKV) szektorban. RIERC kutatási beszámoló # 2019/001. PTE-KTK Regionális Innováció- és Vállalkozáskutatási Központ, Pécs.
SZERB LÁSZLÓ–HORNYÁK MIKLÓS–KRABATNÉ FEHÉR ZSÓFIA–RIDEG ANDRÁS [2023]: Magyarországi városrégiók versenyképességének mérése és elemzése. Közgazdasági Szemle, 70. évf. 2. sz. 119–148. o. https://doi.org/10.18414/KSZ.2023.2.119.
TSCHOPP, D.–HUEFNER, R. J. [2015]: Comparing the evolution of CSR reporting to that of financial reporting. Journal of Business Ethics, 127. évf. 565–577. o. http://dx.doi.org/10.1007/s10551-014-2054-6.
WIDAD, F.–LOTFI, C.–NAOUFAL, S. [2022]: Corporate social responsibility performance index model from stakeholder’s perspective: case of an industrial company. Total Quality Management & Business Excellence, 33. évf. 13–14. sz. 1526–1546. o. https://doi.org/10.1080/14783363.2021.1974828.
WILLIAMS, S.–SCHAEFER, A. [2013]: Small and medium-sized enterprises and sustainability: Managers’ values and engagement with environmental and climate change issues. Business Strategy and the Environment, 22. évf. 3. sz. 173–186. o. https://doi.org/10.1002/bse.1740.
XI, L.–BIAN, H.–WANG, X. [2024]: Is there a peer effect on corporate ESG performance? Evidence from China’s capital market. Chinese Journal of Population, Resources and Environment, 22. évf. 4. sz. 423–435. o. https://doi.org/10.1016/j.cjpre.2024.11.006.
Published
2025-06-25
How to Cite
HornyákM., CsapiV., & PutzerP. (2025). The link between digital maturity and sustainability performance in Hungarian SMEs. Hungarian Economic Review, 72(6), 545-565. Retrieved from https://ojs3.mtak.hu/index.php/kszemle/article/view/19479
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Tanulmány
