ESG innovation as a competitive advantage: a comparative study of state-owned vs private banks

Jalalov, Mashkhurbek, Джалалов , Машхурбек, Jalalov, Mashkhurbek

Илғор иқтисодиёт ва педагогик технологиялар · 2025-yil

Annotatsiya

This study investigates the role of ESG-driven innovation as a strategic source of competitive advantage in the banking sector, with a comparative focus on state-owned and private banks across emerging and developed markets. Drawing on the Resource-Based View and Dynamic Capabilities theory, it develops a novel ESG Innovation Index that captures the depth and integration of sustainability technologies, such as AI-based ESG analytics, carbon tracking platforms, and digital reporting systems into core banking functions. Using a panel dataset of 68 banks from Central Asia and benchmark economies (2015–2024), the study employs fixed-effects and system GMM models to assess the impact of ESG innovation on profitability (ROA, ROE), operational efficiency, market share, and investor attractiveness. Results reveal that ESG innovation significantly enhances financial and operational performance, while the magnitude of its impact is substantially higher among private banks. The findings highlight that ownership structure moderates the innovation–performance nexus, with private banks leveraging technological agility for greater returns, whereas state-owned banks tend to pursue compliance-oriented sustainability agendas. The research contributes to strategic management and sustainable finance literature by framing ESG innovation as a contingent dynamic capability and offers policy insights for regulators seeking to balance innovation incentives across ownership types.

Maqola ma’lumotlari
MualliflarJalalov, Mashkhurbek, Джалалов , Машхурбек, Jalalov, Mashkhurbek
JurnalИлғор иқтисодиёт ва педагогик технологиялар
NashriyotТошкент давлат иқтисодиёт университети ҳузуридаги «Ўзбекистон иқтисодиётини ривожлантиришнинг илмий асослари ва муаммолари» илмий-тадқиқот маркази
ISSN1994-2025
Nashr sanasi2025-11-11
Jild2
Son6
Betlar33-47
TilIngliz
Ilmiy sohaIqtisodiyot
DOI10.60078/3060-4842-2025-vol2-iss6-pp33-47
Indeksga qo‘shilgan2026-08-26

DOI: 10.60078/3060-4842-2025-vol2-iss6-pp33-47 · Maqolaning asl sahifasi

Kalit so‘zlar

ESG innovation, competitive advantage, state-owned banks, private banks, sustainable finance, resource-based view, Central Asia, green fintech, dynamic capabilities, ESG-инновации, конкурентное преимущество, государственные банки, частные банки, устойчивое финансирование, ресурсно-ориентированный подход, Центральная Азия, зелёный финтех, динамические способности, ESG innovatsiyasi, raqobat ustunligi, davlat banklari, xususiy banklar, barqaror moliya, resursga asoslangan yondashuv, Markaziy Osiyo, yashil fintech, dinamik imkoniyatlar

Ilmiy soha

Iqtisodiyot

Iqtibos keltirish

APAJalalov, Mashkhurbek, Джалалов , Машхурбек, & Jalalov, Mashkhurbek (2025). ESG INNOVATION AS A COMPETITIVE ADVANTAGE: A COMPARATIVE STUDY OF STATE-OWNED VS PRIVATE BANKS. Илғор иқтисодиёт ва педагогик технологиялар, 2(6), 33-47. https://doi.org/10.60078/3060-4842-2025-vol2-iss6-pp33-47
GOST (OAK)Jalalov, Mashkhurbek, Джалалов , Машхурбек, Jalalov, Mashkhurbek ESG INNOVATION AS A COMPETITIVE ADVANTAGE: A COMPARATIVE STUDY OF STATE-OWNED VS PRIVATE BANKS // Илғор иқтисодиёт ва педагогик технологиялар. – 2025. – T. 2, № 6. – P. 33-47. – DOI: 10.60078/3060-4842-2025-vol2-iss6-pp33-47.
MLAJalalov, Mashkhurbek, Джалалов , Машхурбек, and Jalalov, Mashkhurbek. “ESG INNOVATION AS A COMPETITIVE ADVANTAGE: A COMPARATIVE STUDY OF STATE-OWNED VS PRIVATE BANKS.” Илғор иқтисодиёт ва педагогик технологиялар, 2(6), 33-47, 2025. https://doi.org/10.60078/3060-4842-2025-vol2-iss6-pp33-47
ChicagoJalalov, Mashkhurbek, Джалалов , Машхурбек, and Jalalov, Mashkhurbek. “ESG INNOVATION AS A COMPETITIVE ADVANTAGE: A COMPARATIVE STUDY OF STATE-OWNED VS PRIVATE BANKS.” Илғор иқтисодиёт ва педагогик технологиялар, 2(6), 33-47 (2025). https://doi.org/10.60078/3060-4842-2025-vol2-iss6-pp33-47
HarvardJalalov, Mashkhurbek, Джалалов , Машхурбек, and Jalalov, Mashkhurbek (2025) ‘ESG INNOVATION AS A COMPETITIVE ADVANTAGE: A COMPARATIVE STUDY OF STATE-OWNED VS PRIVATE BANKS’, Илғор иқтисодиёт ва педагогик технологиялар, 2(6), 33-47. https://doi.org/10.60078/3060-4842-2025-vol2-iss6-pp33-47
BibTeX
@article{jalalovmashkhurbek2025,
  title = {ESG INNOVATION AS A COMPETITIVE ADVANTAGE: A COMPARATIVE STUDY OF STATE-OWNED VS PRIVATE BANKS},
  author = {Jalalov, Mashkhurbek and Джалалов , Машхурбек and Jalalov, Mashkhurbek},
  journal = {Илғор иқтисодиёт ва педагогик технологиялар},
  year = {2025},
  volume = {2},
  number = {6},
  pages = {33-47},
  doi = {10.60078/3060-4842-2025-vol2-iss6-pp33-47},
  url = {https://doi.org/10.60078/3060-4842-2025-vol2-iss6-pp33-47}
}

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