Exploring Stakeholder ESG Interests for Listed Companies in the EU Healthcare Sector

Abstract

This study empirically examines the complex correlation between Environmental, Social, and Governance (ESG) performance and financial dynamics in the European Healthcare industry. Utilizing comprehensive datasets from Refinitiv and EMIS, the study includes 209 publicly traded firms, carefully classified based on the NUTS for easier comparison of ESG ratings across different regions. The research aims to achieve three objectives: firstly, to demonstrate the distribution of ESG metrics using heat-map analysis; secondly, to evaluate the concentration of ESG scores within the healthcare sector; and thirdly, to determine stakeholders' interests by analyzing sector-specific ESG characteristics. The study intends to offer significant insights into the impact of ESG practices on financial performance, with a specific focus on the healthcare sector's unique features. This investigation adds to the expanding pool of knowledge on the subject and thoroughly examines the ESG situation of healthcare companies in Europe. This study provides a contemporary and comprehensive analysis of the interactions between ESG factors and financial performance as firms strive to incorporate sustainable practices.