公司治理
业务
控制(管理)
会计
福利
考试(生物学)
订单(交换)
产业组织
市场经济
经济
财务
管理
生物
古生物学
作者
Raj Kumar,Irene Wei Kiong Ting,Sujit K Sukumaran,S D Sumod
摘要
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.
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