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esg and financial performance: ESG and Financial Performance. The Effects of Audit Quality and National Culture in the Nigerian and Kenyan Context Ursule Yvanna Otek Ntsama, 2023-03-22 Doctoral Thesis / Dissertation from the year 2022 in the subject Business economics - Business Management, Corporate Governance, grade: 3.9, Dongbei University of Finance and Economics, language: English, abstract: This research is motivated by the need to show whether environmental, social, and governance performance (ESG) is highly linked to the African companies’ performances, and national culture. Besides, this study examines the impacts of audit quality and the national culture on the relationship between financial performance and environmental, social, and governance (ESG) criteria. The introduction of ESG practices has started lately in sub-Saharan African countries, but its implementation has been easier as the African context prones social factors that facilitate its development. Although several studies have explored the nexus between ESG, audit quality and firm financial performance, the outcomes of research on the financial performance-ESG’s relationship are contradicting and further research is needed. These areas include (1) the mediating role of audit quality in the relationship between corporate governance and firm performance; (2) the moderated mediating role of national culture in the relationship between ESG and financial performance through audit quality, (3) the impact of each ESG characteristics such as environment, social, governance scores and audit firm size on firm performance. Thus, the aims of the study are to examine (1) the impact of environment, social, governance criteria on firm financial performance; (2) the relationship environment, social, governance criteria and audit quality; (3) the effect of audit quality on firm financial performance; (4) the mediating role of audit quality in the relationship ESG and firm financial performance; and (5) the ESG performance of companies deviating between firms from different countries, the last key objective is to fill the research gap by examining the moderated mediating role of the four cultural dimensions of Hofstede –power distance, uncertainty avoidance, individualism, and masculinity- on the impact of ESG on firm financial performance through audit quality. |
esg and financial performance: Perspectives in Sustainable Equity Investing Guillaume Coqueret, 2022-03-08 Sustainable investing has recently gained traction throughout the world. This trend has multiple sources, which span from genuine ethical concerns to hopes of performance boosting, and also encompass risk mitigation. The resulting appetite for green assets is impacting the decisions of many investors. Perspectives in Sustainable Equity Investing is an up-to-date review of the academic literature on sustainable equity investing. It covers more than 800 academic sources grouped into six thematic chapters. Designed for corporate sustainability and financial management professionals, this is an ideal reference for ESG-driven financiers (both retail and institutional). Students majoring in finance or economics with some background or interest in ESG concerns would also find this compact overview useful. Key Features: Introduces the reader to terms and nomenclature used in the field. Surveys the link between sustainability and performance (including risk). Details the integration of sustainable criteria in complex portfolio optimization. Reviews the financial liabilities induced by climate change. |
esg and financial performance: Deciphering the ESG-Performance Conundrum. An Analysis of the Relationship and Causality in Corporate Financial Performance , 2023-11-28 Master's Thesis from the year 2023 in the subject Business economics - Investment and Finance, Kiel University of Applied Sciences (Economics), language: English, abstract: Financial performance is an essential measurement that companies are aiming to improve by following various strategies. These strategies could be environmental-, social- or governmental (ESG). However, in the literature, the relationship between company performance and ESG is under huge debate. On the one hand, studies show that ESG influences positively company performance by improving corporate sustainability as well as attracting investors and stakeholders. On the other hand, studies suggest an opposite impact on the company performance. Furthermore, some studies find no relationship between both of them. In light of these contradicting results, this study aims to investigate ESG in the context of company performance to shed light on their relationship and causality. Moreover, this study includes various indicators and variables that represent company performance. The overall outcome of this study suggests that the company performance has no significant impact on the ESG and vice versa. |
esg and financial performance: Financial And Economic Systems: Transformations And New Challenges Zied Ftiti, Hachmi Ben Ameur, Wael Louhichi, 2021-03-22 In the last twenty years, several periods of turmoil have shaped the financial and economic system. Many regulatory policies, such as Basel III, have been introduced to overcome further crises and scandals. In addition, monetary policy has experienced a transition from conventional to unconventional frameworks in most industrialized and emerging economies. For instance, turning to hedge and diversification of portfolios, commodities markets have attracted increasing interest. More recently, new forms of money have been introduced, such as virtual money. These changes have influenced governance features at both macro and micro levels. Therefore, calls for ethical and sustainable standards in financial and economic spheres have been growing since 2007.Financial and Economic Systems: Transformations and New Challenges provides readers with insights about future transformations and challenges for financial and economic systems. Prominent contributors focus on different aspects, providing a global overview of crisis implications. The book is split into four main areas: Changes in the Real Sphere, covering issues related to yields, risk, unconventional monetary policy, and macroprudential policy; Financial Markets and Macroeconomics, covering uncertainty in finance and economics; CSR, Sustainability and Ethical Finance, highlighting the emergence of corporate social responsibility; and Digitalization, Blockchain and FinTech and the consequences of these transformations on markets and economic systems. |
esg and financial performance: Creating Value and Improving Financial Performance Paul Wachtel, Giovanni Ferri, Ewa Miklaszewska, 2023-03-21 This book discusses the transformation of the banking industry, particularly after a number of recent shocks: 2008 financial crisis, 2012 Euro-sovereign crisis, the pandemic COVID-19 crisis, the technological revolution, and reputational problems in banking due to climate risk and ESG (Environmental, Social and Governance) metrics. The book emphasizes two post-pandemic issues: the role of financial education and inclusive finance, and responsible banking and ESG priorities. Individual chapters analyse how the pandemic shed new light on social and governance responsibilities: Major issues include the importance and efficiency of financial education, and the impact of ESG programs on firms’ value, banks’ probability of default, bank business models and reputation risk. The book also addresses investors’ behaviour and the factors which may bias financial disclosure and reporting. By addressing whether the post-2008 crisis bank restructuring has effectively created a resilient and sustainable banking system – mostly from the European market’s perspective – the book will be of interest to researchers, academics, policy makers, and professionals of banking and financial institutions. |
esg and financial performance: One Report Robert G. Eccles, 2010 One Report refers to an emerging trend in business taking place throughout the world where companies are going beyond separate reports for financial and nonfinancial (e.g., corporate social responsibility or sustainability) results and integrating both into a single integrated report. At the same time, they are also leveraging the Internet to provide more detailed results to all of their stakeholders and for improving their level of dialogue and engagement with them. Providing best practice examples from companies around the world, One Report shows how integrated reporting adds tre. |
esg and financial performance: Grow the Pie Alex Edmans, 2021-11-11 Should companies be run for profit or purpose? This book shows how they can deliver both-based on rigorous evidence and an actionable framework. This edition, updated to include the pandemic and latest research, explains how managers, investors and citizens can put purpose into practice-and overcome the difficult trade-offs that hold them back. |
esg and financial performance: Handbook of Research on Global Aspects of Sustainable Finance in Times of Crises Gok, Ibrahim Yasar, 2021-11-19 Sustainable finance has been one of the emerging areas of finance in the last decade. With its emphasis on any form of financial services that take environmental, social and governance (ESG) considerations into account in decision-making processes, it can help to improve social well-being, preserve the ecosystems and promote sustainable economic development. Furthermore, it can contribute to economic and financial resilience, along with enabling sustainable recovery against crises arising from physical or financial shocks. The Handbook of Research on Global Aspects of Sustainable Finance in Times of Crises discusses theory and concepts, focuses on practices and strategies, addresses the recent challenges and trends, and presents future prospects regarding sustainable finance. It provides a global look at sustainable finance in a variety of contexts, along with highlighting contemporary issues in light of crises such as the climate emergency and the COVID-19 pandemic. Covering a wide range of topics such as climate finance, green finance, social finance, ESG investing and responsible banking, the book is ideal for corporate managers, portfolio managers, investors, financial analysts, researchers, academicians, students and policymakers. |
esg and financial performance: Frontiers in Social Innovation Neil Malhotra, 2022-03-01 The one book you need to make a difference in the world. Social innovation and social entrepreneurship are rising forces. As the extent of the world's systemic challenges becomes clear—from climate change to income inequality to food security to healthcare and beyond—more and more of the best and brightest will feel called to become innovators and entrepreneurs who develop and deploy solutions to the world's thorniest problems. But it won't be easy: social innovation is complicated. Solutions require the active collaboration of constituents across the worlds of government, business, and nonprofits. Social innovators and entrepreneurs need a handbook to guide them on the journey to changing the world. This is that guide. Contributions from a who's who of the smartest thinkers and most experienced practitioners in the field provide the knowledge you need to succeed as a social innovator. Topics cover the waterfront, including: High-performance leadership as a driver of social change Design for extreme affordability Scaling social innovation Corporate decarbonization Social innovation and healthcare in the postpandemic world Donor-advised funds and impact investing Case studies from the field bring to life the challenges and opportunities social entrepreneurs and innovators face. Frontiers in Social Innovation is an essential volume for anyone who wants to use innovation and entrepreneurship to make the world a better place. |
esg and financial performance: Testing for Autocorrelation in Dynamic Linear Models Trevor Stanley Breusch, 1977 |
esg and financial performance: Introductory Econometrics for Finance Chris Brooks, 2008-05-22 This best-selling textbook addresses the need for an introduction to econometrics specifically written for finance students. Key features: • Thoroughly revised and updated, including two new chapters on panel data and limited dependent variable models • Problem-solving approach assumes no prior knowledge of econometrics emphasising intuition rather than formulae, giving students the skills and confidence to estimate and interpret models • Detailed examples and case studies from finance show students how techniques are applied in real research • Sample instructions and output from the popular computer package EViews enable students to implement models themselves and understand how to interpret results • Gives advice on planning and executing a project in empirical finance, preparing students for using econometrics in practice • Covers important modern topics such as time-series forecasting, volatility modelling, switching models and simulation methods • Thoroughly class-tested in leading finance schools. Bundle with EViews student version 6 available. Please contact us for more details. |
esg and financial performance: The Impact of ESG on Corporate Financial Performance - An Empirical Analysis Alexander Steimel, 2023 Due to the rising importance of and public interest in ESG, research on the alignment of ESGP and CFP remains highly relevant. While past findings have been mixed with a positive tendency for both aggregate and subdivided ESG scores, the need for studies evaluating region- and sector-specific effects has been established. This thesis contributes to empirical literature by filling this research gap using a dataset encompassing performance data for 8,774 companies between 2018 and 2022. Both ESGP and CFP data have been extracted from the financial database Refinitv. My OLS models generally find the impact of aggregate ESGP, EP and GP on CFP to be significant and positive, whereas SP is established to have a detrimental effect on ROE and ROA. While ESGP, EP and GP are significant drivers of CFP in the Americas region, Asian companies can benefit from the investment in social sustainability. The sector-filtered models confirm the assumption that a company's industry plays a vital role in its ESGP-CFP alignment. Lastly, time-specific models that use interaction terms for the comparison of ESGP-CFP over time confirm a positive development in the relationship for aggregate ESGP and GP. The findings for EP-CFP are mixed among the dependent variables ROE and ROA, while SP-CFP is established to have started negative and not significantly developed ever since. |
esg and financial performance: Multilatinas Veneta Andonova, Mauricio Losada-Otálora, 2017-11-16 This book studies the internationalization strategies of multilatinas, drawing on a survey-based investigation into their organizational resources and business environment. |
esg and financial performance: ESG Investing For Dummies Brendan Bradley, 2021-02-26 Your guide to investing for a more sustainable world Investing in one’s own future has always been a good financial move. But what if you want to ensure that the companies you have a financial interest in are also helping to improve the present and future of all of us—and of the planet? More than ever before, sustainable investors want to be confident that a company’s Environmental (net zero emissions target), Social (response to the Covid-19 pandemic), and Governance (no repeats of Enron and WorldCom) policies and actions are positively impacting the global outlook—and to identify ways that their dollar can incentivize business leaders to do even better. The worldwide rise of an Environmental, Socially Responsible, and Governance (ESG) approach to investing shows you’re not alone, and the $30+ trillion—and growing—committed in this way says it’s already become a transformative global movement. ESG provides a framework for evaluating companies that, unlike unrelated investment strategies, informs and guides sustainable investment. Even if you’re a novice investor, ESG For Dummies will allow you to hit this new investing landscape running, providing you with measurable ways to factor ESG into company performance, see how these are reflected in your investment return, and show how you can monitor companies to ensure your money is being put to ethical use. You’ll also become familiar with the big names to follow in the ESG world, how they’re already effecting positive change, and how you can help. Identify the drivers for each category of ESG Define and measure material ESG factors for investing success Understand principles for building a diversified sustainable portfolio Recognize material ESG factors effect on company performance ESG investing introduces powerful tools to do real and lasting good: this book shows you how to use them to help make everyone’s future, including your own, much more secure. |
esg and financial performance: Data Science for Economics and Finance Sergio Consoli, Diego Reforgiato Recupero, Michaela Saisana, 2021 This open access book covers the use of data science, including advanced machine learning, big data analytics, Semantic Web technologies, natural language processing, social media analysis, time series analysis, among others, for applications in economics and finance. In addition, it shows some successful applications of advanced data science solutions used to extract new knowledge from data in order to improve economic forecasting models. The book starts with an introduction on the use of data science technologies in economics and finance and is followed by thirteen chapters showing success stories of the application of specific data science methodologies, touching on particular topics related to novel big data sources and technologies for economic analysis (e.g. social media and news); big data models leveraging on supervised/unsupervised (deep) machine learning; natural language processing to build economic and financial indicators; and forecasting and nowcasting of economic variables through time series analysis. This book is relevant to all stakeholders involved in digital and data-intensive research in economics and finance, helping them to understand the main opportunities and challenges, become familiar with the latest methodological findings, and learn how to use and evaluate the performances of novel tools and frameworks. It primarily targets data scientists and business analysts exploiting data science technologies, and it will also be a useful resource to research students in disciplines and courses related to these topics. Overall, readers will learn modern and effective data science solutions to create tangible innovations for economic and financial applications. |
esg and financial performance: A Guide to Sustainable Corporate Responsibility Caroline D. Ditlev-Simonsen, 2022 This open access book discusses the challenges and opportunities faced by companies in an age that increasingly values sustainability and demands corporate responsibility. Beginning with the historical development of corporate responsibility, this book moves from academic theory to practical application. It points to ways in which companies can successfully manage their transition to a more responsible, sustainable way of doing business, common mistakes to avoid and how the UN Sustainable Development Goals are integral to any sustainability transformation. Practical cases illustrate key points. Drawing on thirty years of sustainability research and extensive corporate experience, the author provides tools such as a Step-by-Step strategic guide on integrating sustainability in collaboration with stakeholders including employees, customers, suppliers and investors. The book is particularly relevant for SMEs and companies operating in emerging markets. From a broader perspective, the value of externalities, full cost pricing, alternative economic theories and circular economy are also addressed. |
esg and financial performance: Individual Behaviors and Technologies for Financial Innovations Wesley Mendes-Da-Silva, 2018-07-26 This book offers comprehensive examination of research on the relevance of individual behavior and technology to financial innovations. The chapters cover current topics in finance including integrated reporting, people finance, crowdfunding, and corporate networks. It provides readers with an organized starting point to explore individual behaviors and new technologies used in financial innovations. The explicit and growing speed of the spread of new technologies has hastened the emergence of innovation in the field of finance. Topics like the Internet of Things, semantic computing and big data finance are motivating the construction of financial tools that translate into new financial mechanisms. This book strives help readers better understand the dynamic of the changes in financial systems and the proliferation of financial products. Individual Behaviors and Technologies for Financial Innovations is organized in 16 chapters, organized in three parts. Part I has eight chapters that review the research on gender differences in attitudes about risk and propensity to purchase automobile insurance, financial literacy models for college students, wellness and attitude of university students in the use of credit cards, impact of programs income distribution and propensity to remain in employment, financial literacy and propensity to resort to informal financing channels, risk behavior in the use of credit cards by students. Part II reviews the research on financing for startups and SMEs, exploring funding through crowdfunding platform, operating credit unions, and using networks of friends to finance small businesses outside the domestic market. The four chapters of Part III describe contexts of financial innovation in listed companies, including society's demands on their behavior - we discuss motivations for companies to participate in corporate sustainability indexes, corporate performance through their profile of socially responsible investments, influence of networks of social relations in the formation of boards, and management of companies, and also the precariousness of financial decisions in large companies, as well as the role of the internet in corporate communication with the market. |
esg and financial performance: OECD Business and Finance Outlook 2020 Sustainable and Resilient Finance OECD, 2020-09-29 The OECD Business and Finance Outlook is an annual publication that presents unique data and analysis on the trends, both positive and negative, that are shaping tomorrow’s world of business, finance and investment. |
esg and financial performance: Valuation McKinsey & Company Inc., Tim Koller, Marc Goedhart, David Wessels, 2010-07-16 The number one guide to corporate valuation is back and better than ever Thoroughly revised and expanded to reflect business conditions in today's volatile global economy, Valuation, Fifth Edition continues the tradition of its bestselling predecessors by providing up-to-date insights and practical advice on how to create, manage, and measure the value of an organization. Along with all new case studies that illustrate how valuation techniques and principles are applied in real-world situations, this comprehensive guide has been updated to reflect new developments in corporate finance, changes in accounting rules, and an enhanced global perspective. Valuation, Fifth Edition is filled with expert guidance that managers at all levels, investors, and students can use to enhance their understanding of this important discipline. Contains strategies for multi-business valuation and valuation for corporate restructuring, mergers, and acquisitions Addresses how you can interpret the results of a valuation in light of a company's competitive situation Also available: a book plus CD-ROM package (978-0-470-42469-8) as well as a stand-alone CD-ROM (978-0-470-42457-7) containing an interactive valuation DCF model Valuation, Fifth Edition stands alone in this field with its reputation of quality and consistency. If you want to hone your valuation skills today and improve them for years to come, look no further than this book. |
esg and financial performance: Socially Responsible Investment Russell Sparkes, 2003-03-14 Over recent years there has been rapid consumer-led growth in investing in socially responsible companies to the extent that it has had an influence on corporate policies. New regulations recognise the public interest by requiring all pension funds to declare their ethical policy. Investors can no longer just consider the financial aspects of a company before investing but also have to consider the complex world of ethical investments. Should the ethical policy take precedence over the financial aspects? Should policies be inclusive or exclusive? What percentage of a company's income has to come from unacceptable sources before the source is excluded? Should any exclusion policy also extend to those involved in selling or transporting goods deemed unacceptable? This is the first book to look at socially responsible investment from the perspective of the institutional investor, who will be led through the complex dilemmas of socially responsible investment with practical examples and advice. |
esg and financial performance: The Global Airline Industry Peter Belobaba, Amedeo Odoni, Cynthia Barnhart, 2015-07-06 Extensively revised and updated edition of the bestselling textbook, provides an overview of recent global airline industry evolution and future challenges Examines the perspectives of the many stakeholders in the global airline industry, including airlines, airports, air traffic services, governments, labor unions, in addition to passengers Describes how these different players have contributed to the evolution of competition in the global airline industry, and the implications for its future evolution Includes many facets of the airline industry not covered elsewhere in any single book, for example, safety and security, labor relations and environmental impacts of aviation Highlights recent developments such as changing airline business models, growth of emerging airlines, plans for modernizing air traffic management, and opportunities offered by new information technologies for ticket distribution Provides detailed data on airline performance and economics updated through 2013 |
esg and financial performance: Sustainable Finance and ESG Chrysovalantis Gaganis, Fotios Pasiouras, Menelaos Tasiou, Constantin Zopounidis, 2023-03-07 In recent years sustainable finance along with Environmental, Social and Governance (ESG) aspects and their implications for financial institutions have attracted the attention of academics and policy makers. The aim of the book is to bring together chapters that discuss the most recent empirical and theoretical evidence in the field, along with policy making and regulatory initiatives. The book covers topics such as the changing role of banks in the financial system, the differences between sustainable banks and traditional banks, ESG and financial performance, bank social responsibility and customer satisfaction, ESG risk management of financial institutions, the politics of climate finance and policy initiatives, and the role of bank regulators. It will be of interest to academics and policymakers working in banking, risk management, sustainable finance and related fields. |
esg and financial performance: Moving Beyond Modern Portfolio Theory Jon Lukomnik, James P. Hawley, 2021-04-29 Moving Beyond Modern Portfolio Theory: Investing That Matters tells the story of how Modern Portfolio Theory (MPT) revolutionized the investing world and the real economy, but is now showing its age. MPT has no mechanism to understand its impacts on the environmental, social and financial systems, nor any tools for investors to mitigate the havoc that systemic risks can wreck on their portfolios. It’s time for MPT to evolve. The authors propose a new imperative to improve finance’s ability to fulfil its twin main purposes: providing adequate returns to individuals and directing capital to where it is needed in the economy. They show how some of the largest investors in the world focus not on picking stocks, but on mitigating systemic risks, such as climate change and a lack of gender diversity, so as to improve the risk/return of the market as a whole, despite current theory saying that should be impossible. Moving beyond MPT recognizes the complex relations between investing and the systems on which capital markets rely, Investing that matters embraces MPT’s focus on diversification and risk adjusted return, but understands them in the context of the real economy and the total return needs of investors. Whether an investor, an MBA student, a Finance Professor or a sustainability professional, Moving Beyond Modern Portfolio Theory: Investing That Matters is thought-provoking and relevant. Its bold critique shows how the real world already is moving beyond investing orthodoxy. |
esg and financial performance: Environmental, Social, and Governance (ESG) Investing John Hill, 2020-01-30 Environmental, Social, and Governance (ESG) Investing: A Balanced Analysis of the Theory and Practice of a Sustainable Portfolio presents a balanced, thorough analysis of ESG factors as they are incorporated into the investment process. An estimated 25% of all new investments are in ESG funds, with a global total of $23 trillion and the U.S. accounting for almost $9 trillion. Many advocate the sustainability goals promoted by ESG, while others prefer to maximize returns and spend their earnings on social causes. The core problem facing those who want to promote sustainability goals is to define sustainability investing and measure its returns. This book examines theories and their practical implications, illuminating issues that other books leave in the shadows. - Provides a dispassionate examination of ESG investing - Presents the historical arguments for maximizing returns and competing theories to support an ESG approach - Reviews case studies of empirical evidence about relative returns of both traditional and ESG investment approaches |
esg and financial performance: Progressive Business Models Eleanor O'Higgins, László Zsolnai, 2017-09-06 This book presents and analyses exemplary cases of progressive business, understood as ecologically sustainable, future-respecting and pro-social enterprise. The authors present a number of companies following progressive business practices from a range of industries including ethical and sustainable banking, artisan coffee production and distribution, pharmaceutical products, clean technology, governance in retailing, responsible hospitality and consumer goods. With case studies from around Europe such as Tridos Bank in The Netherlands, Béres Co. in Hungary, Novo Nordisk in Denmark, Lumituuli in Finland, John Lewis in the UK and Illy Café from Italy, these progressive companies have global reach and an international impact. The collected cases aim to show the best to be expected from business in the 21st century in a structured accessible way, suitable for any readers interested in innovative ways of creating forward-looking sustainable business. |
esg and financial performance: ESG Investment Naoko Nemoto, Naoyuki Yoshino, 2020-02-25 Investors are increasingly integrating environmental, social, and governance (ESG) issues into their investment decisions. Currently, more than half of managed assets in Europe are linked to ESG factors, while in Japan, ESG investment has grown dramatically in recent years. In principle, ESG investment can help to bridge the gap between profit-driven investment and economic and social sustainability in Asia and the Pacific. However, a number of challenges, such as unclear and varied sustainable investment criteria, untested impacts on corporate value and social issues, and the lack of quality data cloud the potential for increasing ESG investment. This book aims to contribute to developing a framework for future analysis and monitoring to ensure the growth of ESG investment. |
esg and financial performance: Business and Society Keith Davis, Robert L. Blomstrom, 1975 Textbook on the sociological aspects of business in the USA, with particular reference to the social role of the enterprise in modern society - covers such issues as pollution control, social responsibility, alienation and community relations, etc., and includes case studies. References. |
esg and financial performance: OECD Sovereign Borrowing Outlook 2021 OECD, 2021-05-20 This edition of the OECD Sovereign Borrowing Outlook reviews developments in response to the COVID-19 pandemic for government borrowing needs, funding conditions and funding strategies in the OECD area. |
esg and financial performance: Introduction to Business Lawrence J. Gitman, Carl McDaniel, Amit Shah, Monique Reece, Linda Koffel, Bethann Talsma, James C. Hyatt, 2024-09-16 Introduction to Business covers the scope and sequence of most introductory business courses. The book provides detailed explanations in the context of core themes such as customer satisfaction, ethics, entrepreneurship, global business, and managing change. Introduction to Business includes hundreds of current business examples from a range of industries and geographic locations, which feature a variety of individuals. The outcome is a balanced approach to the theory and application of business concepts, with attention to the knowledge and skills necessary for student success in this course and beyond. This is an adaptation of Introduction to Business by OpenStax. You can access the textbook as pdf for free at openstax.org. Minor editorial changes were made to ensure a better ebook reading experience. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution 4.0 International License. |
esg and financial performance: Ten Years to Midnight Blair H. Sheppard, 2020-08-04 “Shows how humans have brought us to the brink and how humanity can find solutions. I urge people to read with humility and the daring to act.” —Harpal Singh, former Chair, Save the Children, India, and former Vice Chair, Save the Children International In conversations with people all over the world, from government officials and business leaders to taxi drivers and schoolteachers, Blair Sheppard, global leader for strategy and leadership at PwC, discovered they all had surprisingly similar concerns. In this prescient and pragmatic book, he and his team sum up these concerns in what they call the ADAPT framework: Asymmetry of wealth; Disruption wrought by the unexpected and often problematic consequences of technology; Age disparities--stresses caused by very young or very old populations in developed and emerging countries; Polarization as a symptom of the breakdown in global and national consensus; and loss of Trust in the institutions that underpin and stabilize society. These concerns are in turn precipitating four crises: a crisis of prosperity, a crisis of technology, a crisis of institutional legitimacy, and a crisis of leadership. Sheppard and his team analyze the complex roots of these crises--but they also offer solutions, albeit often seemingly counterintuitive ones. For example, in an era of globalization, we need to place a much greater emphasis on developing self-sustaining local economies. And as technology permeates our lives, we need computer scientists and engineers conversant with sociology and psychology and poets who can code. The authors argue persuasively that we have only a decade to make headway on these problems. But if we tackle them now, thoughtfully, imaginatively, creatively, and energetically, in ten years we could be looking at a dawn instead of darkness. |
esg and financial performance: Econometric Analysis of Panel Data Badi Baltagi, 2008-06-30 Written by one of the world's leading researchers and writers in the field, Econometric Analysis of Panel Data has become established as the leading textbook for postgraduate courses in panel data. This new edition reflects the rapid developments in the field covering the vast research that has been conducted on panel data since its initial publication. Featuring the most recent empirical examples from panel data literature, data sets are also provided as well as the programs to implement the estimation and testing procedures described in the book. These programs will be made available via an accompanying website which will also contain solutions to end of chapter exercises that will appear in the book. The text has been fully updated with new material on dynamic panel data models and recent results on non-linear panel models and in particular work on limited dependent variables panel data models. |
esg and financial performance: Infrastructure as an Asset Class Barbara Weber, Mirjam Staub-Bisang, Hans Wilhelm Alfen, 2016-05-19 Clear, comprehensive guidance toward the global infrastructure investment market Infrastructure As An Asset Class is the leading infrastructure investment guide, with comprehensive coverage and in-depth expert insight. This new second edition has been fully updated to reflect the current state of the global infrastructure market, its sector and capital requirements, and provides a valuable overview of the knowledge base required to enter the market securely. Step-by-step guidance walks you through individual infrastructure assets, emphasizing project financing structures, risk analysis, instruments to help you understand the mechanics of this complex, but potentially rewarding, market. New chapters explore energy, renewable energy, transmission and sustainability, providing a close analysis of these increasingly lucrative areas. The risk profile of an asset varies depending on stage, sector and country, but the individual structure is most important in determining the risk/return profile. This book provides clear, detailed explanations and invaluable insight from a leading practitioner to give you a solid understanding of the global infrastructure market. Get up to date on the current global infrastructure market Investigate individual infrastructure assets step-by-step Examine illustrative real-world case studies Understand the factors that determine risk/return profiles Infrastructure continues to be an area of global investment growth, both in the developed world and in emerging markets. Conditions continually change, markets shift and new considerations arise; only the most current reference can supply the right information practitioners need to be successful. Infrastructure As An Asset Class provides clear reference based on the current global infrastructure markets, with in-depth analysis and expert guidance toward effective infrastructure investment. |
esg and financial performance: Designing a Sustainable Financial System Thomas Walker, Stéfanie D. Kibsey, Rohan Crichton, 2018-01-22 This edited collection brings together leading theoretical and applied research with the intent to design a sustainable global financial future. The contributors argue that our world cannot move toward sustainability, address climate change, reverse environmental degradation, and improve human well-being without aligning the financial system with sustainable development goals like those outlined by the United Nations. Such a system would: a) be environmentally and socially responsible; b) align with planetary boundaries; c) manage natural resources sustainably; d) avoid doing more harm than good; and e) be resilient and adaptable to changing conditions. The overarching theme in this collection of chapters is a response to the worldwide, supranational sustainable finance discussions about how we can transition to a new socio-ecological system where finance, human well-being, and planetary health are recognized as being highly intertwined. |
esg and financial performance: The External Control of Organizations Jeffrey Pfeffer, Gerald R. Salancik, 2003 This work explores how external constraints affect organizations and provides insights for designing and managing organizations to mitigate these constraints. All organizations are dependent on the environment for their survival. It contends that it is the fact of the organization's dependence on the environment that makes the external constraint and control of organizational behaviour both possible and almost inevitable. Organizations can either try to change their environments through political means or form interorganizational relationships to control or absorb uncertainty. |
esg and financial performance: Bad to Good Arch G. Woodside, 2016-08-25 With the objective of reducing the high volume of bad practices in business research, this book offers propositions for improving theory construction and empirical testing of theory especially by business scholars. It does so by covering 24 common bad practices, explaining why they are bad and how to replace all of them with a good practice. |
esg and financial performance: Corporate Sustainability Ann Brockett, Zabihollah Rezaee, 2012-10-01 Invaluable guidance for complete integration of sustainability into reporting and performance management systems Global businesses are under close scrutiny from lawmakers, regulators, and their diverse stakeholders to focus on sustainability and accept responsibility for their multiple bottom line performance. Business Sustainability and Accountability examines business sustainability and accountability reporting and their integration into strategy, governance, risk assessment, performance management and the reporting process. This book also highlights how people, business and resources collaborate in a business sustainability and accountability model. Looks at business sustainability and accountability reporting and assurance and their incorporation into the reporting process Focuses on how the business sustainability and accountability model are impacted by the collaboration of people, business, and resources Presents laws, rules, regulations, standards and best practices relevant to business sustainability performance, reporting and assurance Organizations worldwide recognize the importance of all five EGSEE dimensions of sustainability performance and accountability reporting. However, how to actually assess sustainability risk, implement sustainability reporting, and obtain sustainability assurance remain a major challenge and best practices are evolving. Straightforward and comprehensive Business Sustainability and Accountability hits on all of the hottest topics around sustainability including multiple bottom line (EGSEE) performance and reporting, related financial and non-financial key performance indicators (KPIs), business social responsibility and environmental reporting. |
esg and financial performance: A Study on ESG and Financial Performance of Taiwan Banks During the COVID-19 Pandemic Period Hung-An Hua, 2024 |
esg and financial performance: The Trustee Governance Guide Christopher K. Merker, Sarah W. Peck, 2019-06-25 More than 80% of the financial assets in the United States fall under the purview of a trustee. That's a big responsibility for an estimated 1% (around 1.5 million people) of the U.S. working population charged with overseeing investments for millions and millions of beneficiaries, public sector, and non-profit organizations. In a world proliferated by investment products, increasingly dominated by indexes, faced—particularly in the pension world—with increasing liabilities, more regulation, and a growing number of social and sustainability objectives, what's a trustee to do? The Trustee Governance Guide is here to help guide today’s board trustee through the brave new world of 21st century investing. The book focuses on the critical aspects of the Five Imperatives: Governance, Knowledge, Diversification, Discipline, and Impact. Based on more than a decade of research, practice, and discussions with many key decision makers and influencers across the industry, this book addresses the many topics related to better governance, greater mission-driven financial performance, and impact. The questions the book addresses include: · What is good governance, how do we know it when we see it, and why does it matter? · How much knowledge is necessary to be a competent board member? · How big should my endowment be? · What are the key elements of a diversified portfolio? · How much does cost matter? · What's the difference between socially responsible and ESG investing? · Can I focus on sustainability and still be a good fiduciary? This book provides a way for boards to improve and benchmark their own governance performance alongside their peers, and uniquely covers related investment topics in each chapter. |
esg and financial performance: The Cambridge Handbook of Compliance Benjamin van Rooij, D. Daniel Sokol, 2021-05-20 Compliance has become key to our contemporary markets, societies, and modes of governance across a variety of public and private domains. While this has stimulated a rich body of empirical and practical expertise on compliance, thus far, there has been no comprehensive understanding of what compliance is or how it influences various fields and sectors. The academic knowledge of compliance has remained siloed along different disciplinary domains, regulatory and legal spheres, and mechanisms and interventions. This handbook bridges these divides to provide the first one-stop overview of what compliance is, how we can best study it, and the core mechanisms that shape it. Written by leading experts, chapters offer perspectives from across law, regulatory studies, management science, criminology, economics, sociology, and psychology. This volume is the definitive and comprehensive account of compliance. |
esg and financial performance: People and Profits? Joshua Daniel Margolis, James P. Walsh, 2001-04-01 What is the relationship between the social performance of companies and their financial performance? More colloquially, can a firm effectively attend to both people and profits as it conducts its business? This question has been investigated in no fewer than 95 empirical studies published since 1972. The authors have assembled a compendium of this research to give researchers and practitioners alike a broad overview of these 95 studies and a systematic database detailing the content of each one. This book provides a comprehensive portrait of this research literature. It begins with a broad orientation to the literature, exploring why the link between social and financial performance has been subject to continual inquiry and often heated debate. The authors then present an integrated overview of the 95 studies. Through the charts and tables, the authors illuminate the nature of the studies conducted; the data samples selected for investigation; the ways in which financial and social performance have been measured; and the overall tally of results. |
ESG是什么概念? - 知乎
esg概念最早由联合国环境规划署在2004年提出,2014年以来,esg资产管理规模以每年25%的速度增长。 目前,越来越多的公司、投资者,甚至是监管机构都开始关注ESG,全球范围内各 …
ESG 在中国的发展状况和前景如何? - 知乎
esg报告和审计报告不一样,不是一个第三方机构带着审查的眼光去评判的,而是公司内部自己内生出来的文本,你可以想象这种文本的“风味”如何。那些非常核心的问题,或者说esg报告里 …
esg都是做哪些工作的? - 知乎
esg岗位主要工作内容有哪些?想拿到esg岗位offer需要做哪些准备? 如果你对esg感兴趣,想更多了解esg相关的内容,我推荐你来听一下这节课。课程会详细讲解“esg是什么?为什么要 …
ESG是什么,为什么现在企业都在做ESG报告? - 知乎
企业做esg并不能直接赚到钱,esg披露是监管的要求,也是企业全面展示自身价值的机会,有利于吸引投资、提升自身融资能力。 我们整理了几乎所有上市的EGS报告,也包含顶尖咨询公 …
ESG证书的含金量高吗? - 知乎
目前的esg正处于构建生态体系的阶段。最终,esg也会像财务报告一样,构成一个完善的系统。企业有专门的esg人员负责编esg报告,就如同企业有财务人员负责编写财务报告一样。同时, …
ESG 评级是什么,到底是怎么评的?评级高了有什么用? - 知乎
esg计量方法则是通过数据分析、挖掘、并排除干扰因素来评价企业的esg表现,通常包括多变量回归分析等,并将清理和排除后的数据与不同的科目进行对比,以识别其表现的优劣。 一个企 …
公司的ESG评级数据可以从哪里找到? - 知乎
而且金融机构,对esg评级的重视程度要比实体公司还要高一些。因为很多海外的大资金对基金的esg评级是有要求的,评级高了,他们才会投。 esg作为一个很好的职业方向,也可以切入金 …
国内外有哪些含金量较高的双碳或ESG相关的证书? - 知乎
如果你也对cfa-esg感兴趣,想了解cfa-esg更多考试信息,可以看我的免费公开课,可以切实了解到cfa-esg考什么、难度如何、如何学习及掌握,还有正课内容,都是0元领;另外有cfa-esg免 …
如何看待同一家公司的ESG评级结果存在差异?是否需要统一评估 …
esg评级机构往往通过各自特定的评级方法论,明确数据来源、采用的esg主题和实质性议题、重要性和权重的分配以及评分机制等一系列要素,从科学性和系统性的角度去评估目标企业或其他 …
ESG证书是智商税吗?值不值得考? - 知乎
一、esg证书 (一)中国esg证书. 官方的解释:《注册esg分析师 》是由全国工商联人才中心、中国科技金融促进会共同指导,由通过课程标准审核的执行机构运营,结业颁发全国工商联人才 …
ESG ratings and corporate financial performance in South …
contribution of ESG ratings on financial performance in South Africa. Keywords ESG, Financial performance, JSE, South Africa Paper type Research paper 1. Introduction The interest in …
ESG and financial performance of banks in the MENAT …
ESG and financial performance of banksin the MENAT region: concavity–convexity patterns R. El Khoury a, N. Nasrallah a and B. Alareenib aDepartment of Accounting and Finance, Notre …
ESG systems and financial performance in industries with
Sep 26, 2024 · ESG on company performance in the environmentally hazardous industrial sectors, remains a great research lacuna. The bridge across this gap is essential not only for …
The impact of ESG on financial performance: a revisit with a …
superior nancial performance [75], lower cost of capi- tal [51, 67] and better performance on innovation [169]. Other studies document a negative relationship between
Asian Economic and Financial Review - ResearchGate
The impact of ESG scores on corporate financial performance: A study of non-financial firms listed in the UK 1,2,3,4Ahmad Al-Tarawneh1+ Mohammad Tayeh2 Majd Iskandrani3 Muhanned
Unearthing the Nexus between ESG and Financial …
tionship between ESG and financial performance among manufacturing SMEs. While examining the direct association between ESG disclosures and financial metrics, numerous company …
The relationship between ESG, financial performance, and …
the positive (negative) effect of esg on financial performance and the cost of debt will be even greater. the research also contributes to the novelty of accounting research, namely testing the …
Impact of ESG on Financial Performance of Companies: An
The study of the impact of ESG on the financial performance of companies in the Indian stock market is both timely and relevant, given the increasing global interest in ESG issues and the …
ESG Reporting and Financial Performance of Deposit Money …
shape the connection between ESG reporting and financial performance (Barnea et al., 2010; Muttakin et al., 2015). Consequently, this article will investigate how corporate governance …
Environmental, social, governance (ESG), and financial …
The results of Shakil et al. (2019) on 93 banks from emerging markets showed a positive association between the banks’ environmental/social performance and their financial …
The Effect of Esg Disclosure, Company Size, and Leverage On …
H1 : Disclosure of ESG affects financial performance 2.6.2 Effect of company size on financial performance Company size describes the size of a company which can be expressed in total …
A Study on the effect of Environmental Social and Governance …
iii DEFINITION OF KEY TERMS Environmental Social and Governance: This term refers to an organization’s corporate financial interests focusing largely on sustainable and ethical impacts …
ESG Investing and Financial Performance - CBS
ESG Investing and Financial Performance A breakdown of ESG and its impact on financial performance across industries Master’s Thesis Copenhagen Business School 16th May 2022 …
Help or Hurt? The Impact of ESG on Firm Performance in …
There are two primary views of the ESG– financial performance relationship: the shareholder and the stakeholder value maximization theories. On the one hand, the shareholder-focused idea …
ESG and Corporate Financial Performance: Evidence from …
corporate financial performance is a relatively new but prominent area of research in practice and academia in South Africa. This study explores the relationship between ESG disclosure …
Does Company Information Environment Affect ESG Financial …
environment and ESG performance on financial performance. In addition to considering combined ESG performance, we examine companies’ environmental, social, and gover-nance …
ESG and Firm Performance: A Literature Review - Semantic …
3.5 ESG Performance and Firm Performance It is a hot issue how the ESG performance of enterprises influence the performance of enterprises. ESG plays a significant moderating role …
ESG and financial performance via uncertain mining …
The above suggests that the relationship between ESG and financial performance being examined is complex, and its study holds both global significance and relevance. Furthermore, …
ESG and their influence on companies’ - unitbv.ro
influence of ESG on the financial performance of companies. At the same time, existing studies reveal mixed, contradictory results. A meta-study of reference in the specialized literature is …
ESG measures and financial performance of logistics …
ship between the firms that employ good ESG practices and their financial perfor-mance. For instance, Shakil et al. (2019) assessed the effect of ESG performance on banks’ financial …
Sustainable competitiveness through ESG performance: An …
relationship between ESG performance and firm value is still a matter of debate. They propose that ESG has insignificant effects in the short term but reduced effects in the long term due to …
“ESG disclosure and financial performance: Empirical study …
ESG disclosure is still inconsistent. Empirical studies on the association between ESG disclosure and inancial performance are mixed and limited in emerging economies. his study aims to …
Impact of global financial crisis on firm performance in UK: …
governance (ESG; for non-financial performance) and estimates the moderating role of ESG, corporate governance (CG) and firm size in these relationships. Panel data from 2002 to 2018 …
ESG ratings and corporate financial performance in South …
contribution of ESG ratings on financial performance in South Africa. Keywords ESG, Financial performance, JSE, South Africa Paper type Research paper 1. Introduction The interest in …
ESG Risks and Financial Performance. Analysis of Romanian …
The relationship between ESG performance and financial performance . One of the main reasons why more and more investors choose to integrate ESG ratings in their investment decisions is …
ESG and Corporate Financial Performance: Empirical …
sustainability Article ESG and Corporate Financial Performance: Empirical Evidence from China’s Listed Power Generation Companies Changhong Zhao 1, Yu Guo 1, Jiahai Yuan 1,2,* ID, …
ESG and Corporate Financial Performance: The Mediating …
Aug 12, 2023 · This also implies that ESG performance can enhance corporate financial performance. Hypothesis 1: ESG performance has a positive impact on corporate financial …
CreatingabridgebetweenESGand s financial performance in …
2023). Jointly, the three pillars of ESG (environmental, social, and governance pillars), contribute to good reputation, socially-responsible behavior, trust by customers and
The ESG premium: New perspectives on value and …
ESG programs increase value for shareholders is a premium of 15 percent. ESG’s contributions to financial performance Maintaining a good corporate reputation and attracting and retaining …
Sustainable Banking in India: An Empirical Study of ESG …
assess the overall financial performance and health of the banks, the paper examines financial statements, annual reports, and other pertinent financial data from Money Control, Bombay …
ESG in Indonesia: Access to Finance 2023 - PwC
Financial Services Authority (OJK). ESG ratings can ease access to finance Investors, funds and financial institutions are increasingly taking the ESG performance of companies into …
Journal of Human, Earth, and Future
ESG-financial performance link, with the positive association being stronger for firms with higher levels of ESG disclosure. This study contributes to the literature by offering an integrated …
Corporate ESG, Investment Efficiency and Financial …
Aug 12, 2023 · Hypothesis 1: Corporate ESG performance positively affects financial performance. The impact of ESG scores on firms can be reflected in the internal governance of firms, and …
ESG performance and company financial performance - ru
ESG performance and company financial performance by providing new insights from moderating factors and using the most recently available data. For this research, the following research …
Artificial Intelligence in ESG investing: Enhancing portfolio ...
In ESG investing, predictive analytics can forecast the impact of ESG factors on financial performance, assess the likelihood of ESG-related risks materializing, and identify investment …
ESG AND FINANCIAL PERFORMANCE: THE MODERATING …
Dec 29, 2024 · weakens the link between ESG and corporate financial performance. Keywords: ESG; Financial Performance, ROA, Tobins’Q, Intellectual Capital, Human Capital, Structural …
evaluating THE RELATIONSHIP between corporate profitability …
ESG and financial performance. At the same time, it assumes reverse causation, i.e. the ESG performance is determined by financial performance: previous good financial performance …
The Impact of ESG Ratings on Financial Performance of the …
tion of the existence of a significant relation of ESG per-formance to financial performance of firms, and to assess whether these connections are positive or negative. The relevance of the …
Empirical Analysis of ESG and Financial Performance - CBS
the question of whether a positive, negative or no relationship between ESG and financial performance exists. To this date, empirical analyses have not reached a clear consensus on …
ESG controversies and corporate performance: The …
to ESG principles while expressing skepticism toward those neglecting these considerations as potential signals of unsustainability and heightened risks (Aguilera et al., 2007; Useche et al., …
Does ESG Integration Enhance Financial Performance in …
Does ESG Integration Enhance Financial Performance in Emerging … 387. explores how ESG performance influences investment decisions. Companies prior-itize investments aligned with …
Where does ESG pay? The role of national culture in …
between ESG and financial performance. According to Hofstede et al. (2010), culture refers to “the collective programming of the mind that distinguishes the members of one group or category of …
ESG And its Impact on Performance: A Study of Metal …
been used to check the moderating impact of firm size on the financial performance of selected companies. Keywords: ESG, Financial Performance, Metal Industry, Regression, Moderation …
Environmental, Social and Governance (ESG) and Financial …
ESG and financial performance that require additional investigation by the following researchers. According to the researcher, no study has been found xamining the relationship between ESG …
Performance: a DEA Approach Understanding Resource …
performance. However, for the technology sector, there exists some trade-offs between ESG performance and financial performance. Specifically, relative to non-technology firms, …
Analysis of the relationship between ESG performance and …
Keywords: ESG performance, CSR, Sustainability, ESG ratings, financial performance, Refinitiv This study investigates the relationship between the ESG performance of Scandinavian …
Does ESG Performance Improve the Financial Performance …
2.1 ESG Performance and Financial Performance . The relationship between ESG performance and firm financial performance remains contentious [14]. Excellent environmental, social, and …
Sustainable Finance in Indonesia - KPMG
Sustainable finance system refers to financial services and products integrating ESG criteria into the business or investment decisions that contribute to sustainable development and value …
Beyond Firms Doing Good: The Impact of Environmental, …
The micro-level impact of ESG practices on the financial performance of companies listed in the Philippine Stock Exchange from 2010-2018 was estimated using quarterly-reported panel …
Corporate Financial Performance in the Wake of ESG …
between financial performance and ESG scores and the ESG controversy. Variables and specified model The independent variables of the study are the ESG disclosure score (Naeem …