Impact des pratiques de gestion durable sur la performance financière des PME françaises

Thesis Abstract

In the context of increasing environmental awareness and societal demand for corporate accountability, small and medium-sized enterprises (PMEs) in France are progressively integrating sustainable management practices into their operational frameworks. Despite this trend, empirical evidence on how these practices influence financial performance remains limited and often inconclusive, highlighting a critical research gap. This study aims to examine the impact of sustainable management practices on the financial performance of French PMEs, with specific objectives to identify which sustainability dimensions (environmental, social, economic) most significantly affect financial outcomes and to assess the moderating role of organizational size and sectoral differences. Employing a quantitative research design, the study adopts a cross-sectional survey approach, targeting a population of 500 PMEs registered across various sectors in France. Using stratified random sampling, a sample of 200 SMEs was selected, ensuring proportional representation across industry sectors and company sizes. Data were collected via structured questionnaires, validated through content validity checks and reliability analysis, with Cronbach’s alpha exceeding 0.70 for key constructs. Financial performance indicators, including return on assets (ROA), return on equity (ROE), and profit margins, were collected from company financial statements, while sustainable management practices were assessed through self-reported measures aligned with the Global Reporting Initiative (GRI) standards. Data analysis involved descriptive statistics to characterize the sample, followed by multiple regression analysis to evaluate the relationship between sustainability practices and financial outcomes. The analytical framework incorporated the Stakeholder Theory and the Natural-Resource-Based View as guiding theoretical foundations, focusing on how stakeholder engagement and resource management contribute to financial performance. Statistical tests ensured the assumptions of regression analysis were met; multicollinearity, heteroscedasticity, and normality diagnostics were performed. It is anticipated that the findings will reveal a positive correlation between the adoption of sustainable management practices and financial performance metrics among French PMEs, with environmental and social dimensions exerting significant influence. Sectoral and organizational size analyses are expected to demonstrate moderating effects, whereby larger SMEs and those within environmentally-intensive industries derive greater financial benefits from sustainable practices. These results would provide robust empirical support for integrating sustainability into strategic management, highlighting the financial incentives for PMEs to adopt environmentally responsible and socially inclusive practices. The study’s contribution to knowledge lies in its empirical validation of the link between sustainability and finance within the context of French PMEs, a segment often overlooked despite their economic significance. It extends existing literature by offering sector-specific insights and by highlighting the role of firm size as a moderating factor. The findings are expected to inform policymakers, business stakeholders, and SME managers about the tangible financial benefits of sustainable management, thereby promoting a shift towards responsible business practices. The main conclusion underscores the importance of integrating sustainability into PME strategic frameworks to enhance financial performance, especially through targeted environmental and social initiatives. Based on these insights, the study recommends the development of supportive policies, tailored capacity-building programs, and the promotion of sustainability reporting among PMEs. Future research avenues include longitudinal studies to assess causality over time and qualitative approaches to explore managerial motivations and perceptions surrounding sustainability practices in the French SME landscape.