Environmental, social, and governance performance as an influencing factor of financial sustainability: Evidence from the global high-tech sector

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62690094%3A18450%2F24%3A50021462" target="_blank" >RIV/62690094:18450/24:50021462 - isvavai.cz</a>

Result on the web

<a href="https://onlinelibrary.wiley.com/doi/10.1002/csr.2831" target="_blank" >https://onlinelibrary.wiley.com/doi/10.1002/csr.2831</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1002/csr.2831" target="_blank" >10.1002/csr.2831</a>

Result language

angličtina

Original language name

Environmental, social, and governance performance as an influencing factor of financial sustainability: Evidence from the global high-tech sector

Original language description

The corporate sector strives to improve its environmental, social, and governance (ESG) performance to transition from short-term to sustainable long-term profit maximisation. This study thus explores the impact of ESG performance on the financial sustainability (FS) of a sample of the top 100 global high-tech firms. Specifically, we employ the two-step generalised method of moments to control for endogeneity bias and a panel data fixed effects model to control for unobserved heterogeneity. Empirical findings reveal that overall ESG performance has a statistically negative association with the FS of global high-tech firms. Individual pillar-wise analysis reveals that the environmental and social (governance) pillar has a negative (positive) association with the FS of the sampled firms. This result proves that each ESG pillar exerts varying effects on corporate performance indicators. Overall, the results provide empirical evidence that could help policymakers devise policies for investing optimally in ESG indicators to spur corporate FS.

Czech name

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Czech description

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Type

J_imp - Article in a specialist periodical, which is included in the Web of Science database

CEP classification

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OECD FORD branch

50204 - Business and management

Project

—

Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2024

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Corporate Social Responsibility and Environmental Management

ISSN

1535-3958

e-ISSN

1535-3966

Volume of the periodical

31

Issue of the periodical within the volume

5

Country of publishing house

US - UNITED STATES

Number of pages

13

Pages from-to

4746-4758

UT code for WoS article

001209489900001

EID of the result in the Scopus database

2-s2.0-85192064064