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

Kód výsledku v 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>

Výsledek na webu

<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>

Jazyk výsledku

angličtina

Název v původním jazyce

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

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

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

Popis výsledku anglicky

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.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50204 - Business and management

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2024

Kód důvěrnosti údajů

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

Název periodika

Corporate Social Responsibility and Environmental Management

ISSN

1535-3958

e-ISSN

1535-3966

Svazek periodika

31

Číslo periodika v rámci svazku

5

Stát vydavatele periodika

US - Spojené státy americké

Počet stran výsledku

13

Strana od-do

4746-4758

Kód UT WoS článku

001209489900001

EID výsledku v databázi Scopus

2-s2.0-85192064064