Can sustainable practices protect investors during financial market instability? A multi-sector analysis during the COVID-19 pandemic

Nirino, Niccolò; Petruzzella, Felice; Alam, Gazi Mahabubul; Campobasso, Francesco

doi:10.1108/md-12-2021-1654

Cited by 13 publications

(5 citation statements)

References 102 publications

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“…The efficacy of ESG as a crisis-mitigation strategy was established in the literature during the 2008 financial crisis (Cornett et al , 2016; Lins et al , 2017). Therefore, when faced with a crisis that emphasized sustainability, ESG became viewed as a solution to alleviate the adverse effects of the pandemic on business value (Nirino et al , 2022).…”

Section: Review Of Literaturementioning

confidence: 99%

Assessing the effect of core and expanded ESG on corporate financial performance: COVID-19’s moderating role

Maji,

Lohia

2024

JIBR

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Purpose This study aims to investigate the influence of disclosing environmental, social and governance (ESG) factors on financial performance, taking into account the moderating effect of the COVID-19 pandemic. Design/methodology/approach A sample of the top 100 non-financial firms listed on the Bombay Stock Exchange, for the years 2019–2022, has been considered. Suitable panel regression models have been used to assess the impact of non-financial disclosure on accounting and market measures of firm performance. In addition, a panel data moderating effect model is used to assess the moderating impact. Findings The outcomes of the study partially favour the value-creation role of ESG disclosure. Specifically, the disclosure of already established ESG metrics, particularly social and governance aspects, positively impacts the market performance while environmental transparency negatively impacts the accounting performance. Of the three ESG components, only extended governance disclosure adds to market value. Results of the moderation effect reveal a significant impact of the pandemic on the ESG disclosure–financial performance relation. However, a more pronounced effect before the pandemic is observed. The results are robust to endogeneity. Originality/value This study sheds light on the financial consequences of ESG disclosure within the context of an emerging nation. This is done by using a novel holistic ESG reporting framework to obtain more accurate results. Furthermore, the study distinguishes itself by examining the long-term moderating influence of the unexpected COVID-19 crisis on the ESG disclosure–financial performance relation.

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Section: Review Of Literaturementioning

confidence: 99%

Assessing the effect of core and expanded ESG on corporate financial performance: COVID-19’s moderating role

Maji,

Lohia

2024

JIBR

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“…This nevertheless has created the need to comply with principles of sustainable development and socially and environmentally responsible behavior to reduce the negative impact of infrastructure development on the environment, to be precise. Besides, studies have shown that real-estate companies complying with environmental regulations and CSR practices are found to have a good reputation in the market, which positively affects their business performance [21,59]. As per Shanyu [39], the impact of CSR on the sustainable performance and activities of businesses is found to be positive in BRICS countries.…”

Section: -4-csr and Real-estate Marketmentioning

confidence: 99%

“…In the real estate market, the profitability of BRIC companies is positively affected by corporate governance and sustainable policies that endorse stock returns. However, concerns regarding still exist regarding the environmental challenges and risks associated with the massive books in the real-estate sector [59].…”

Section: -4-csr and Real-estate Marketmentioning

confidence: 99%

Impact of Corporate Social Responsibility on the Effectiveness of Companies' Business Activities

Vasiljeva,

Semin,

Ponkratov

et al. 2023

Emerg Sci J

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Background: Corporate social responsibility (CSR) has a great influence on the sustainability of company development, so it can be considered a business model for business effectiveness. Objective: The objective of the research is to determine the mutual influence of real-estate companies’ activities and CSR effectiveness in different countries. This study examines indicators for assessing companies’ financial stability, CSR, and working capital management's influence on the activity effectiveness of real-estate companies. Methods/Analysis: Questionnaires, the principal component method, the Sobel test, and linear regression analysis are used to evaluate the relationship between CSR and the business performance of autocratic management-style companies. The authors’ algorithm for assessing a company’s financial stability, CSR, and capital management, which affect the efficiency of companies, is proposed. Findings: Empirical analysis has shown that management has no mediating effect on CSR and enterprise performance relationships for companies with high financial stability and working capital, though it has a stimulating effect for low financial stability companies. CSR and business performance have positive relationships in companies, but despite financial stability growing, the autocratic leadership style reduces interest in CSR development. This paper conceptualizes the impacts of CSR on the effectiveness of companies. Novelty: The novelty of this study is to create theoretical and practical provisions aimed at laws and regulations. Doi: 10.28991/ESJ-2023-07-03-08 Full Text: PDF

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“…, 2020). In fact, the pandemic had a huge impact not only on the economy but also from a social point of view (Nirino et al. , 2022).…”

Section: Introductionmentioning

confidence: 99%

“…This led to the necessity for a reconsideration of organizational strategies both in developed and emerging countries (Battisti et al, 2022), as the magnitude and unpredictability of this event are forcing companies to reconsider their decision-making processes (Norris et al, 2020). In fact, the pandemic had a huge impact not only on the economy but also from a social point of view (Nirino et al, 2022). Consequently, organizations have been forced to concentrate more on their social responsibility (He and Harris, 2020), thus increasing the relevance of social sustainable practices (Guaita Mart ınez et al, 2021).…”

Section: Introductionmentioning

confidence: 99%

How to survive social crises? An HR analytics data-driven approach to improve social sustainable operations’ effectiveness

Di Prima,

Kotaskova,

Yildiz

et al. 2023

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PurposeDespite the growing interest regarding companies' sustainability, its social dimension has mostly been neglected by academics and practitioners. Consequently, this study aims to address this issue by investigating if the adoption of human resource (HR) analytics can positively influence the impact of social sustainable operations practices (SSOP) on employees' motivation and engagement and the effect of these lasts on organizational retention.Design/methodology/approachData were collected through online questionnaires addressed to 281 HR managers of heterogeneous companies from Europe and analyzed through a structural equation modeling (SEM) technique.FindingsThe findings confirmed the positive effect of SSOP on employees’ motivation and engagement, and of these last on employees’ retention. Furthermore, they confirmed that the usage of HR analytics positively moderates the relationship between SSOP and employees’ motivation and engagement.Originality/valueThis study contributes to both sustainable operations management and HR management literature streams. First, it adopts a multidisciplinary perspective which also considers evidence from HR management literature, allowing the authors to concentrate on the social dimension of sustainability. Second, it provided further insight regarding the adoption of a data-driven approach in relation to social sustainable operations management. Finally, it contributes to HR analytics-related literature by demonstrating its impact also on organizational aspects that are not directly controlled by the HR department.

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Can sustainable practices protect investors during financial market instability? A multi-sector analysis during the COVID-19 pandemic

Cited by 13 publications

References 102 publications

Assessing the effect of core and expanded ESG on corporate financial performance: COVID-19’s moderating role

Assessing the effect of core and expanded ESG on corporate financial performance: COVID-19’s moderating role

Impact of Corporate Social Responsibility on the Effectiveness of Companies' Business Activities

How to survive social crises? An HR analytics data-driven approach to improve social sustainable operations’ effectiveness

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