Environmental, Social and Governance initiatives and wealth creation for firms: An empirical examination

Environmental, Social and Governance initiatives and wealth creation for firms: An empirical examination

This study examines the effect of environmental, social, and governance (ESG) activities on firm performance of 4,887 global companies. Mean difference test shows that firms with a high level of ESG activities are different from their low‐ESG counterparts. The two‐stage least square results suggest...

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Main Authors: Bhaskaran, Rajesh Kumar, Irene, Wei Kiong Ting, Sukumaran, Sujit K., Sumod, Saraswathy Divakaran
Format: Article
Language:English
Published: John Wiley & Sons, Ltd. 2020
Subjects:
HD Industries. Land use. Labor
Online Access:http://umpir.ump.edu.my/id/eprint/28085/
http://umpir.ump.edu.my/id/eprint/28085/
http://umpir.ump.edu.my/id/eprint/28085/
http://umpir.ump.edu.my/id/eprint/28085/1/Environmental%2C%20Social%20and%20Governance%20initiatives%20and%20wealth%20creation1.pdf
id ump-28085
recordtype eprints
spelling ump-280852020-03-09T03:30:44Z http://umpir.ump.edu.my/id/eprint/28085/ Environmental, Social and Governance initiatives and wealth creation for firms: An empirical examination Bhaskaran, Rajesh Kumar Irene, Wei Kiong Ting Sukumaran, Sujit K. Sumod, Saraswathy Divakaran HD Industries. Land use. Labor This study examines the effect of environmental, social, and governance (ESG) activities on firm performance of 4,887 global companies. Mean difference test shows that firms with a high level of ESG activities are different from their low‐ESG counterparts. The two‐stage least square results suggest that ESG activities on (a) the welfare for internal stakeholders and best corporate governance practices are beneficial for firm performance and (b) antitakeover mechanisms (pollution control) adopted by firms are negatively (positively) valued by market players. Overall, this is the first study to examine the effects of ESG on the market‐based and accounting‐based performance of global firms. John Wiley & Sons, Ltd. 2020 Article PeerReviewed pdf en http://umpir.ump.edu.my/id/eprint/28085/1/Environmental%2C%20Social%20and%20Governance%20initiatives%20and%20wealth%20creation1.pdf Bhaskaran, Rajesh Kumar and Irene, Wei Kiong Ting and Sukumaran, Sujit K. and Sumod, Saraswathy Divakaran (2020) Environmental, Social and Governance initiatives and wealth creation for firms: An empirical examination. Managerial and Decision Economics. pp. 1-20. ISSN 1099-1468 (In Press) https://doi.org/10.1002/mde.3131 https://doi.org/10.1002/mde.3131
repository_type Digital Repository
institution_category Local University
institution Universiti Malaysia Pahang
building UMP Institutional Repository
collection Online Access
language English
topic HD Industries. Land use. Labor
spellingShingle HD Industries. Land use. Labor
Bhaskaran, Rajesh Kumar
Irene, Wei Kiong Ting
Sukumaran, Sujit K.
Sumod, Saraswathy Divakaran
Environmental, Social and Governance initiatives and wealth creation for firms: An empirical examination
description This study examines the effect of environmental, social, and governance (ESG) activities on firm performance of 4,887 global companies. Mean difference test shows that firms with a high level of ESG activities are different from their low‐ESG counterparts. The two‐stage least square results suggest that ESG activities on (a) the welfare for internal stakeholders and best corporate governance practices are beneficial for firm performance and (b) antitakeover mechanisms (pollution control) adopted by firms are negatively (positively) valued by market players. Overall, this is the first study to examine the effects of ESG on the market‐based and accounting‐based performance of global firms.
format Article
author Bhaskaran, Rajesh Kumar
Irene, Wei Kiong Ting
Sukumaran, Sujit K.
Sumod, Saraswathy Divakaran
author_facet Bhaskaran, Rajesh Kumar
Irene, Wei Kiong Ting
Sukumaran, Sujit K.
Sumod, Saraswathy Divakaran
author_sort Bhaskaran, Rajesh Kumar
title Environmental, Social and Governance initiatives and wealth creation for firms: An empirical examination
title_short Environmental, Social and Governance initiatives and wealth creation for firms: An empirical examination
title_full Environmental, Social and Governance initiatives and wealth creation for firms: An empirical examination
title_fullStr Environmental, Social and Governance initiatives and wealth creation for firms: An empirical examination
title_full_unstemmed Environmental, Social and Governance initiatives and wealth creation for firms: An empirical examination
title_sort environmental, social and governance initiatives and wealth creation for firms: an empirical examination
publisher John Wiley & Sons, Ltd.
publishDate 2020
url http://umpir.ump.edu.my/id/eprint/28085/
http://umpir.ump.edu.my/id/eprint/28085/
http://umpir.ump.edu.my/id/eprint/28085/
http://umpir.ump.edu.my/id/eprint/28085/1/Environmental%2C%20Social%20and%20Governance%20initiatives%20and%20wealth%20creation1.pdf
first_indexed 2023-09-18T22:44:03Z
last_indexed 2023-09-18T22:44:03Z
_version_ 1777417106428526592

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