2023
DOI: 10.1108/srj-09-2021-0388
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Does corporate sustainability mitigate firm risk? An empirical analysis on S&P 500 controversial companies

Abstract: Purpose This study aims to explore the impact of controversial firms’ corporate sustainability assessments on their risk exposure according to the environmental, social and governance (ESG) paradigm. Design/methodology/approach This study conducts a cross-sectional study using the ordinary least squares approach to test how corporate social responsibility practices affect firms’ risk exposure, testing the three single impacts of ESG components and the impact of an overall ESG assessment. This study considers… Show more

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Cited by 5 publications
(3 citation statements)
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“…The second research trend examines the topic concerning corporate sustainability and risk management [20][21][22][23]. For example, reference [21] is essential for understanding the drivers of corporate sustainability within South African organizations and how they intersect with risk management.…”
Section: Literature Reviewmentioning
confidence: 99%
See 1 more Smart Citation
“…The second research trend examines the topic concerning corporate sustainability and risk management [20][21][22][23]. For example, reference [21] is essential for understanding the drivers of corporate sustainability within South African organizations and how they intersect with risk management.…”
Section: Literature Reviewmentioning
confidence: 99%
“…It highlights the link between sustainability and long-term organizational performance, indicating that sustainability and risk management should not be treated as separate entities. Finally, reference [23] reiterates the aim of exploring the impact of controversial firms' corporate sustainability assessments on risk exposure, specifically focusing on the environmental, social, and governance (ESG) paradigm. By considering controversy as an independent factor from the industry sector, the study provides insights into the implications of corporate social performance on firm-specific risk.…”
Section: Literature Reviewmentioning
confidence: 99%
“…The rapid development of ESG puts enormous pressure on companies [28]. This pressure makes many * Corresponding author: tarjo@trunojoyo.ac.id companies use various methods to implement ESG even though they contain controversial actions in their implementation [29]. The ESG controversy can increase employee rights problems, environmental damage, and damage to corporate order [30].…”
Section: Introductionmentioning
confidence: 99%