Abstract
The main goal of this study was to measure the impact of the environmental, social, and governance (ESG) sustainability score and value added to companies’ market capitalization. Therefore, financial and sustainable performance were measured in a sample of 5557 companies divided into 9 economic sectors of activity from 78 countries and 6 regions (Americas: 2144; Asia: 1770; Europe: 1232; Oceania: 311; Africa: 90; United Kingdom: 10). The analyzed sample consisted of publicly traded companies ranked by market capitalization (from small-cap to large-cap), for which the ESG score was measured in the analyzed period: the financial year was 2019, before the advent of the COVID-19 pandemic. Using two methods (multiple linear regression and complementary quantile regression), we found a direct link between the ESG score and value added variables and market capitalization, with distinct impacts at the economic sector level for ESG score and relatively constant impact for value added.
Funder
Lucian Blaga University of Sibiu & Hasso Plattner Foundation
Subject
Management, Monitoring, Policy and Law,Renewable Energy, Sustainability and the Environment,Geography, Planning and Development
Reference72 articles.
1. ESG Investing for Dummies;Bradley,2021
2. Environmental, Social, and Governance (ESG) Investing: A Balanced Analysis of the Theory and Practice of a Sustainable Portfolio;Hill,2020
3. Valuation Using Multiples. How Do Analysts Reach Their Conclusions;Fernandez,2001
4. Market capitalization: Pre and post COVID-19 analysis
5. The role of reserves and production in the market capitalization of oil and gas companies
Cited by
9 articles.
订阅此论文施引文献
订阅此论文施引文献，注册后可以免费订阅5篇论文的施引文献，订阅后可以查看论文全部施引文献