ǂThe ǂimpact of ESG controversies on the financial performance of firms

ǂan ǂanalysis of industry and country clusters

Michele Nascimento Jucá (Avtor), Polona Domadenik (Avtor), Aljoša Valentinčič (Avtor), Riste Ichev (Avtor)

Povzetek

Stakeholders have become increasingly interested in sustainable practices, leading to intense investigation in the literature of their effects on companies' returns. However, not much information is available about the effect of environmental, social, and governance (ESG) controversy on companies' financial performance. Inappropriate social behavior and environmental scandals attract attention in the media and, consequently, among investors. Therefore, this study analyzes the impact of ESG controversy on companies' return on equity, identifying differences between companies that operate in different clusters such as environmentally sensitive industries (ESI) or non–environmentally sensitive industries and emerging/developed countries. To this end, we investigate 625 publicly owned companies for the period 2011 to 2022, using a four-dimensional hierarchical linear regression model, comprising time, firms, industries, and countries. ESG controversies negatively impact the financial performance of companies operating in ESI and developed countries.

Ključne besede

poslovanje podjetja;trajnostni razvoj;cilji trajnostnega razvoja;company performance;sustainable development;sustainable development goals;

Podatki

Jezik:	Angleški jezik
Leto izida:	2024
Tipologija:	1.01 - Izvirni znanstveni članek
Organizacija:	UL EF - Ekonomska fakulteta
UDK:	502.131.1
COBISS:	204478211
ISSN:	2214-8450
Št. ogledov:	130
Št. prenosov:	38
Ocena:	0 (0 glasov)
Metapodatki:

Ostali podatki

Sekundarni jezik:	Slovenski jezik
Sekundarne ključne besede:	poslovanje podjetja;trajnostni razvoj;cilji trajnostnega razvoja;
Vrsta dela (COBISS):	Članek v reviji
Strani:	str. 1305-1315
Letnik:	ǂVol. ǂ24
Zvezek:	ǂIss. ǂ6
Čas izdaje:	Nov. 2024
DOI:	10.1016/j.bir.2024.08.001
ID:	26796202