Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/317554 
Authors: 
Year of Publication: 
2022
Citation: 
[Journal:] Journal of Business Economics and Management (JBEM) [ISSN:] 2029-4433 [Volume:] 23 [Issue:] 1 [Year:] 2022 [Pages:] 218-237
Publisher: 
Vilnius Gediminas Technical University, Vilnius
Abstract: 
This article attempts to bring quantitative evidence of a firm's sustainability reporting in terms of non-financial voluntary disclosures. The disclosures are made available through the annual report and Corporate Social Responsibility (CSR) and Global Reporting Initiatives (GRI) report. ESG score is a quantitative measure developed and disseminated by Bloomberg, covering about 120 Environmental, Social, and Governance aspects. The study's research problem is to examine the effects of non-market transnational sustainability strategy on firm performance. The study presents an analysis of nearly 510 firm's ESG scores across 17 countries for 2010-2018. The descriptive and inductive statistical analysis shows that ESG compliance is more pronounced in European companies. Simultaneously, Asian firms are more disciplined concerning the energy sector, and the Asiapacific counterpart is more inclined toward technology firms. The study shows that GRI and nonGRI companies differ significantly in their accounting performance (ROA and ROE) and market valuations (Tobin's-Q). The environmental dimension appears intimidating across accounting and market-based firm performance, while the social dimension contributes adversely, and governance positively affects operational efficiency.
Subjects: 
environmental
social
governance
ESG score
sustainability
firm performance
JEL: 
G30
G32
M41
Q51
Q56
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.