ESG Reputational Risk, Corporate Payouts and Firm Value

Chasiotis, Ioannis; Gounopoulos, Dimitrios; Konstantios, Dimitrios; Patsika, Victoria

doi:10.1111/1467-8551.12745

Cited by 14 publications

(2 citation statements)

References 74 publications

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“…Moreover, building upon the recent body of research, we hypothesize that ESG reputational risk can influence the SOA in investments (Agoraki et al, 2023;Chasiotis et al, 2023;Dyck et al, 2019;Economidou et al, 2022;Fafaliou et al, 2022;Maxfield & Wang, 2021). This hypothesis is motivated by the positive influence of ESG reputation on corporate behaviour.…”

Section: Esg Reputational Risk In Determining Speed Of Investment Adj...mentioning

confidence: 93%

Does ESG reputational risk affect the efficiency and speed of adjustment of corporate investment?

Chasiotis,

Gounopoulos,

Konstantios

et al. 2023

Euro Fin Management

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This study explores the relationship between environmental, social, and governance (ESG) reputational risk and investment efficiency. We provide evidence that ESG reputational risk relates to higher corporate suboptimal investment (underinvestment) and a lower speed of adjustment back to the optimal investment level. Our findings hold for parametric and nonparametric estimations of underinvestment and are robust to several techniques that address endogeneity and self‐selection. Overall, our study highlights the important role of ESG reputational risk in determining corporate investment efficiency.

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Section: Esg Reputational Risk In Determining Speed Of Investment Adj...mentioning

confidence: 93%

Does ESG reputational risk affect the efficiency and speed of adjustment of corporate investment?

Chasiotis,

Gounopoulos,

Konstantios

et al. 2023

Euro Fin Management

Self Cite

View full text Add to dashboard Cite

show abstract

“…Considering the adverse effects of climate change on a global scale, environmental innovation is of fundamental importance to society. Furthermore, numerous studies show that environmental innovation is value and performance relevant (Dyck et al, 2019;Liang et al, 2022;Chasiotis et al, 2023). Thus, understanding the determinants of green innovation is a worthwhile endeavor.…”

Section: Introductionmentioning

confidence: 99%

Does Market Competition Affect Environmental Innovation? Some International Evidence

Chasiotis,

Georgakopoulos,

Toudas

2023

TEL

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This study explores whether market competition affects firms' propensity for environmental innovation. The sample is an international panel of 25,833 firm-year observations from international, non-financial, listed firms, between 2002 and 2022. Using a binary logistic regression model and several measures of market competition, we document that firms in competitive markets are more likely to engage in environmental innovation. Our findings support the "escape the competition effect", where companies, vis-à-vis market competition, strive to form competitive advantages.

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Do not walk into darkness in greenhushing: A cross‐cultural study on why Chinese and South Korean corporations engage in greenhushing behavior

Tao

2024

Bus Strat Dev

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This study focuses on exploring the factors influencing why companies engage in greenhushing decisions in the cultural backgrounds of China and Republic of Korea. Structural equation modeling analysis indicates that in these two countries, reputational risk not only directly leads to corporate greenhushing behavior, but also exerts its influence through conservatism as a mediating factor. Reputational risk causes companies to exhibit conservatism, which in turn leads to the adoption of greenhushing behavior. Furthermore, tests for moderation effects revealed that, in the Chinese sample data, a transparent information disclosure mechanism has the ability to mitigate the impact of reputational risk on corporate greenhushing behavior, as well as to alleviate the influence of conservatism on corporate greenhushing behavior. In the South Korean sample data, a transparent information disclosure mechanism can moderate the impact of reputational risk on conservatism and corporate greenhushing behavior. Finally, the fsQCA method is tested to derive the different configurations and pathways that lead to the strong emergence of greenhushing behavior in companies in China and Republic of Korea, as well as to identify the most influential pathways. This study provides substantial theoretical support for further exploration of the causal mechanisms of corporate greenhushing behavior and promotion of cross‐cultural comparisons and learning in the international environmental management field. In addition, provides rich empirical support and theoretical guidance for corporate environmental management decision‐making and policy formulation. The findings highlight the further standardization and strengthening of transparent information disclosure mechanisms will be an important direction for future environmental policy development.

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ESG Reputational Risk, Corporate Payouts and Firm Value

Cited by 14 publications

References 74 publications

Does ESG reputational risk affect the efficiency and speed of adjustment of corporate investment?

Does ESG reputational risk affect the efficiency and speed of adjustment of corporate investment?

Does Market Competition Affect Environmental Innovation? Some International Evidence

Do not walk into darkness in greenhushing: A cross‐cultural study on why Chinese and South Korean corporations engage in greenhushing behavior

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