Does country sustainability improve firm ESG reporting transparency? The moderating role of firm industry and CSR engagement

Hoang, Thi Hong Van; Pham, Linh; Nguyen, Thanh Thi Phuong

doi:10.1016/j.econmod.2023.106351

Cited by 15 publications

(10 citation statements)

References 76 publications

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“…The robust connection between infrastructure development and SDGs/ESG objectives is not merely conceptual but is increasingly recognized as a pragmatic approach to addressing global challenges (Hoang et al, 2023). The World Bank emphasizes the crucial role of infrastructure in achieving sustainable development and advocates for the incorporation of environmental and social considerations into infrastructure projects (Quayson et al, 2023).…”

Section: Literature Review 21 Nexus Of Esg Objectives and Sdgs In Inf...mentioning

confidence: 99%

Establishing the relationship between the strategic factors influencing blockchain technology deployment for achieving SDG and ESG objectives during infrastructure development: an ISM-MICMAC approach

Singh,

Kumar

2024

SASBE

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PurposeImplementing blockchain in sustainable development goals (SDGs) and environmental, social and governance (ESG)-aligned infrastructure development involves intricate strategic factors. Despite technological advancements, a significant research gap persists, particularly in emerging economies. This study aims to address the challenges related to SDGs and ESG objectives during infrastructure delivery remain problematic, identifying and evaluating critical strategic factors for successful blockchain implementation.Design/methodology/approachThis study employs a three-stage methodology. Initially, 13 strategic factors are identified through a literature review and validated by conducting semi-structured interviews with six experts. In the second stage, the data were collected from nine additional experts. In the final stage, the collected data undergoes analysis using interpretive structural modeling (ISM)–cross-impact matrix multiplication applied to classification (MICMAC), aiming to identify and evaluate the independent and dependent powers of strategic factors driving blockchain implementation in infrastructure development for SDGs and ESG objectives.FindingsThe study’s findings highlight three significant independent factors crucial for successfully integrating blockchain technology (BT) into infrastructure development for SDGs and ESG goals: data security (F4), identity management (F8) and supply chain management (F7). The study unravels these factors, hierarchical relationships and dependencies by applying the MICMAC and ISM techniques, emphasizing their interconnectedness.Originality/valueThis study highlights critical strategic factors for successful blockchain integration in SDG and ESG-aligned infrastructure development, offering insights for policymakers and practitioners while emphasizing the importance of training and infrastructure support in advancing sustainable practices.

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Section: Literature Review 21 Nexus Of Esg Objectives and Sdgs In Inf...mentioning

confidence: 99%

Establishing the relationship between the strategic factors influencing blockchain technology deployment for achieving SDG and ESG objectives during infrastructure development: an ISM-MICMAC approach

Singh,

Kumar

2024

SASBE

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“…Sustainable leadership must be offered guarantees of action and longterm vision (Bhaskar et al, 2023). The company itself will benefit from its transparency, reputation, and innovation (Dinçer et al, 2023;Sumardjo et al, 2023;Van Hoang et al, 2023). In this sense, it also influences the point that will be presented below.…”

Section: The Importance and Challenges Of Sdgs And Csrmentioning

confidence: 99%

The purpose of the company beyond its position in the market: The new agent of social development

Rodrich‐Portugal,

Marino‐Jiménez,

Mayurí‐Aguilar

et al. 2023

Bus Strat Dev

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The purpose of companies as profit generators has been questioned because of the relationship between strategy and results in the recent systemic crises. Therefore, it is necessary to implement strategies that allow economic sustainability, based on a better relationship with society and the environment. This means turning companies into agents for the development and protection of the community, as well as building trust for their own stakeholders. This article analyzes the bases for the consolidation of a purpose related to these principles, using system thinking for the integrated participation of Corporate Social Responsibility (CSR) and the Sustainable Development Goals (SDGs). This strategy allows replicability based on archetypes that explain dynamic relationships in organizations, with the flexibility and openness required to adapt to different contexts.

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“…In the literature, an even limited number of studies have looked at whether ESG and country-level institutions are substitutes or complementary in affecting firms’ financial performance (Salvi et al. , 2021; Van Hoang et al. , 2023; Xiao et al.…”

Section: Introductionmentioning

confidence: 99%

“…This enables us to assess the relative importance of each component in mitigating credit risk. Finally, within this burgeoning field of research, a growing number of studies explore the influence of the external context on the ESG-creditworthiness relationship (Hoepner et al, 2016;Salvi et al, 2021;Stellner et al, 2015;Van Hoang et al, 2023). Hence, we further investigate whether country-level sustainability score moderates the relationship between ESG and credit risk to establish their substitutability or complementarity on ESG issues.…”

mentioning

confidence: 99%

“…Third, it is plausible that certain firms may not commit themselves to ESG performance if country-level institutions are ineffective or not conducive in supporting corporate sustainability initiatives. In the literature, an even limited number of studies have looked at whether ESG and country-level institutions are substitutes or complementary in affecting firms' financial performance (Salvi et al, 2021;Van Hoang et al, 2023;Xiao et al, 2018).…”

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confidence: 99%

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Environment, social and governance (ESG) performance and CDS spreads: the role of country sustainability

Razak

Ibrahim

2023

JRF

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Purpose Based on a sample of 1,872 firm-year observations for 573 global firms over the period 2013–2016, this study aims to provide empirical evidence on how environmental, social and governance (ESG) performance affects corporate creditworthiness as measured by credit default swap (CDS) spreads.Design/methodology/approach The authors use a regression model that accounts for country, industry and time-fixed effects as well as the instrumental-based Generalized Method of Moments (GMM) approach to dynamic panel modeling.Findings This study finds that improvements in ESG performance, especially in its governance pillar, reduce credit risk. Further, the authors uncover evidence suggesting the complementarity between ESG performance and country-level sustainability. The results indicate a stronger risk-mitigating impact of ESG performance in countries with higher sustainability scores.Practical implications In terms of practical implications, the findings suggest that corporations should strengthen governance frameworks and procedures to reduce credit risk, prior to embarking on environmental and social objectives. Further, the finding that country sustainability is an important determinant of CDS spreads suggests that country-level sustainability initiatives would not only help to preserve natural capital and promote social capital but also be beneficial to businesses and financial stability.Originality/value The study adds to the literature on the effects of ESG performance on credit risk by (1) utilizing a measure of ESG performance that considers the financial materiality of ESG issues across different industries; (2) utilizing a market-based measure of credit risk and CDS spreads; (3) examining the relative importance of ESG components to credit risk, rather than just the aggregate measure; and (4) assessing the influence of country sustainability on the relationship between ESG and credit risk.

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Does country sustainability improve firm ESG reporting transparency? The moderating role of firm industry and CSR engagement

Cited by 15 publications

References 76 publications

Establishing the relationship between the strategic factors influencing blockchain technology deployment for achieving SDG and ESG objectives during infrastructure development: an ISM-MICMAC approach

Establishing the relationship between the strategic factors influencing blockchain technology deployment for achieving SDG and ESG objectives during infrastructure development: an ISM-MICMAC approach

The purpose of the company beyond its position in the market: The new agent of social development

Environment, social and governance (ESG) performance and CDS spreads: the role of country sustainability

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