We find that ESG disclosure decreases corporate risk‐taking based on both accounting‐based and market‐based returns. Further, we find that ESG disclosure is more effective in mitigating market‐based risk‐taking than accounting‐based risk‐taking in a firm with a powerful CEO. In contra...
In this paper, we investigate the interrelationship between a firm's strengths and weaknesses with regard to environmental, social, and governance (ESG) factors, its ESG-related disclosure, and its valuation.1 In recent years, numerous studies have attempted to measure the performance and valuation...
social, and governance (ESG) investment plans. However,dichotomyis found in the literature about how rising ESG practices affect firm value (FV). This study examines the linear and nonlinear effect of ESG practices on FV and how growth-option value (GV) moderates this connection...
Albuquerque,R.et al.(2019),“Corporate social responsibility and firm risk:Theory and empirical evidence”,Management Science,65(10):4451-4469. Allen,J.J.(2024),“Can anti-ESG policy protect targeted industries from divestment?”,Department of Economics and Busin...
22BOUSLAH K, KRYZANOWSKI L, ZALI BM. Social performance and firm risk: impact of the financial crisis[J]. Journal of business ethics, 2018,149(3):643-669. 23GODFREY P C, MERRILL C B, HANSEN J M. The relationship b...
and state ownership, and CSR/ESG activities (Hoepner et al.,2023; Chen et al.,2020; Abeysekera & Fernando,2020; Boubakri et al.,2019; 4) assessing the influence of CSR/ESG actions on firm risk, encompassing aspects such as cost of capital, systemic risk, credit risk, and legal risk ...
Does ESG Performance Enhance Firm Value? Evidence from Korea We analyze whether a firm's corporate social responsibility (CSR) plays a significant role in promoting its market value in an emerging market, namely Korea. We employ environmental, social, and corporate governance (ESG) scores to eval...
The potential of human capital to create a sustainable competitive advantage is well explained through the Resource-Based View (RBV) of a firm. According to the RBV, organizations can achieve sustained competitive advantage through resources that are valuable, rare, inimitable, and non-substitutable ...
This study presents three research streams: (1) Firm characteristics and ESG performance, (2) Corporate governance and ESG performance and (3) Financial materiality of ESG disclosure. Additionally, I conducted a meta-analysis in which I used random effects models to compute the effect sizes of ...
[5] Brinette S,Sonmez F D,Tournus P S.ESG Controversies and Firm Value:Moderating Role of Board Gender Diversity and Board Independence[J].IEEE Transactions on Engineering Management,2023:1-10. [6] Burke J J.Do Boards Take E...