ESG and financial performance: A qualitative comparative analysis in China's new energy companies

Лю, Пэйдэ; Zhu, Baoying; Yang, Mingyan; Chu, Xu

doi:10.1016/j.jclepro.2022.134721

Cited by 73 publications

(28 citation statements)

References 44 publications

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“…Baudot et al (2021) posit that extractive and exploration activities in emerging economies are associated with unethical practices, social unrest, unfavourable environmental impact, human rights abuses, bribery and corruption thus the high demand for ESG disclosure from firms operating in energy industry. Similarly, Liu et al (2022) argue that as emerging and developed economies are at different developmental stages, stakeholders’ demand and support for ESG disclosure varies between developed and developing economies. Consistent with this view, Haji et al (2023) noted that ESG regulations and outcomes in developing economies focused more on welfare such as poverty alleviation and human rights abuses.…”

Section: Related Literature Theoretical Framework and Hypothesis Deve...mentioning

confidence: 99%

Board characteristics and ESG disclosure in energy industry: evidence from emerging economies

Nuhu,

Alam

2023

JFRA

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Purpose This paper aims to investigate the impact of board characteristics on environmental, social and governance (ESG) disclosure in the energy industry of emerging economies. Design/methodology/approach The authors adopt the Bloomberg ESG rating to measure the extent of ESG disclosure using a sample of 1,260 observations from BRICS emerging economies. Multiple regression techniques were used to estimate the effect of board characteristics on ESG disclosures of a sample Brazil, Russia, India, China, and South Africa (BRICS) listed companies between 2010 and 2019. Findings The authors find a relatively low (at 37%) level of ESG disclosure among the sampled firms and a relatively high degree of variability. The authors also find that board gender diversity, board composition and board diligence are positively related to the level of ESG disclosure while the study documents no relationship between board size and ESG disclosure. Practical implications The study’s findings highlight the importance of corporate board attributes in influencing strategic decisions such as the level of ESG disclosure and the findings may be useful to regulators, policymakers and investors in making informed investment decisions. Originality/value To the best of the authors’ knowledge, this study is one of the first attempts at examining the impact of board characteristics on ESG disclosure in the energy industry in emerging economies. The paper provides new evidence on the relationship between board characteristics (BC) and ESG disclosure in the energy industry of emerging BRICS countries within a panel multi-country research setting.

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Section: Related Literature Theoretical Framework and Hypothesis Deve...mentioning

confidence: 99%

Board characteristics and ESG disclosure in energy industry: evidence from emerging economies

Nuhu,

Alam

2023

JFRA

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“…Third, model building. Liu et al (2022) point out that there is a complex relationship between environmental, social, and governance (ESG) and corporate financial performance (CFP). Qu (2022) finds that as companies invest more in ESG, their current ESG scores will increase, but there may be differences in short-term and long-term impacts on financial performance.…”

Section: Influence Of Esg Comprehensive Score On Financial Performancementioning

confidence: 99%

Comprehensive ESG Score and Financial Performance of Carbon-Neutral Concept Enterprises —Based on Entropy Weight-TOPSIS and Grey Relational Analysis

Cai¹,

Qian²,

Wang³

2023

OJBM

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Based on entropy weight-TOPSIS and Grey Relational Analysis, the Bloomberg ESG indicator system is reconstructed, and the impact of the optimized ESG score on the financial performance of the carbon-neutral concept enterprise is studied. The results show as follows. 1) The relative importance of environment (E), society (S) and governance (G) will change with time and the objects being evaluated. Generally, society (S) has the highest importance. 2) There is a time-lag effect on the impact of ESG scores on financial performance. The latter worsens in the short term due to the high investment cost of ESG and improves in the long term due to the improvement of corporate image and reputation. 3) The results of heterogeneity analysis show that the impact of ESG score on the financial performance of an enterprise is related to the regional economic development level and the relative carbon emission intensity.

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“…Another factor seems to be the particular values that are used. Various combination of the three ESG pillars might have different impact on financial performance (see for instance Cavaco & Crifo, 2014, Liu et al, 2022, Abidi & Diaye, 2023). From their study, it appears the S pillar might be the most important in generating financial performance.…”

Section: Nudges: a Practical Toolmentioning

confidence: 99%

Nudges for responsible finance? A survey of interventions targeted at financial decision making

Gajewski,

Heimann,

Meunier

et al. 2023

Corp Soc Responsibility Env

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In a comprehensive review, we investigate how nudges can help financial decisionmakers allocate funds according to ethical considerations to promote sustainable development. We begin by identifying the main nudge frameworks and highlighting their many similarities, including the use of default options, making information more salient, and manipulating the framing of incentives. While nudges have been used in personal finance primarily to promote saving for retirement or avoiding credit card debt, they can also encourage socially responsible investment (SRI). We propose potential nudges in SRI and provide a primer on nudge implementation by reviewing methods for selecting effective nudges and ensuring their ethical acceptability.

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ESG and financial performance: A qualitative comparative analysis in China's new energy companies

Cited by 73 publications

References 44 publications

Board characteristics and ESG disclosure in energy industry: evidence from emerging economies

Board characteristics and ESG disclosure in energy industry: evidence from emerging economies

Comprehensive ESG Score and Financial Performance of Carbon-Neutral Concept Enterprises —Based on Entropy Weight-TOPSIS and Grey Relational Analysis

Nudges for responsible finance? A survey of interventions targeted at financial decision making

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