Impact of renewable energy law on the correlation between CSR and Financial Performance

Li, Zhou; Yao, Wei

doi:10.1109/icsgce.2016.7876043

Cited by 3 publications

(4 citation statements)

References 5 publications

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“…According to most studies (Bracco, 2015;Lee, 2021;Pätäri et al, 2012;Shukla & Geetika, 2022;Sidhoum & Serra, 2017;Zhou & Wei, 2016), the sustainability practices of energy companies increase firm value. The execution of CSR initiatives can positively influence firm performance, either by way of cost savings, for example, avoiding fines and hefty interest rates if they fail to comply with climate change regulations (Sepúlveda & Mendizabal, 2011), or, directly, from increased revenues (Ekatah et al, 2011).…”

Section: Global Csp and Eaementioning

confidence: 99%

“…Most research examining how impactful CSR firm initiatives are, positively links them to business value, which seems more pronounced in industries with a more direct influence on the environment, such as those in the energy sector (Arslan‐Ayaydin & Thewissen, 2015). According to most studies (Bracco, 2015; Lee, 2021; Pätäri et al, 2012; Shukla & Geetika, 2022; Sidhoum & Serra, 2017; Zhou & Wei, 2016), the sustainability practices of energy companies increase firm value. The execution of CSR initiatives can positively influence firm performance, either by way of cost savings, for example, avoiding fines and hefty interest rates if they fail to comply with climate change regulations (Sepúlveda & Mendizabal, 2011), or, directly, from increased revenues (Ekatah et al, 2011).…”

Section: Theoretical Framework and Hypothesis Developmentmentioning

confidence: 99%

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Does corporate social performance improve environmentally adjusted efficiency? Evidence from the energy sector

Maside‐Sanfiz,

Suárez Fernández,

López‐Penabad

et al. 2023

Corp Soc Responsibility Env

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This study analyses the impact of corporate social performance (CSP), proxied by the Environmental, Social and Governance (ESG) Index and its pillars and dimensions, on the environmentally adjusted efficiency (EAE) of 239 listed companies, over the period 2016–2021, in the global energy sector. The EAE index, estimated via data envelopment analysis (DEA), assesses the efficiency of companies by considering economic aspects alongside CO2 and energy consumption reduction targets. Our results support the hypothesis that only above a certain level of performance, do CSP practices positively influence EAE, so there is a non‐linear U‐shaped association between the overall ESG score and EAE. The same holds for the social and governance pillars, and the human rights and management subspecific dimensions, on EAE. Other ESG attributes show a positive linear relationship with EAE, namely the environmental pillar, the environmental innovation dimension and the shareholder dimension. Our paper has significant implications for companies, policy makers and researchers insofar as it estimates EAE and indicates which CSP practices should be invested in over the long term to have a positive effect on it.

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Section: Global Csp and Eaementioning

confidence: 99%

Section: Theoretical Framework and Hypothesis Developmentmentioning

confidence: 99%

Does corporate social performance improve environmentally adjusted efficiency? Evidence from the energy sector

Maside‐Sanfiz,

Suárez Fernández,

López‐Penabad

et al. 2023

Corp Soc Responsibility Env

View full text Add to dashboard Cite

show abstract

“…The U.S. electric utility industry is a highly regulated industry and regulation is likely to influence our results. The impacts of regulations on the relationship between CSP and CFP can be identified by assessing dependency before and after regulation changes (Zhou and Wei, 2016) and offers scope for future research. Results from our research are useful for corporate accountability reports and should motivate shareholders to be active owners and encourage the company to improve environmental, social, and governance performance, which should eventually lead to better financial performance.…”

Section: Discussionmentioning

confidence: 99%

“…Moving beyond the environmental dimension of CSR, Zhou and Wei (2016) Maditinos et al, 2011) . Good corporate reputation is important Fernández-Gámez et al, 2016) and positive portrayals in popular business magazines can positively impact CFP .…”

Section: Literature Reviewmentioning

confidence: 99%

Sustainability and firm performance : evidence from corportate and farm level

Ait Sidhoum

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This thesis approaches the question of sustainability and firm performance. In the contemporary business model, firm performance measurement must take into account not only economic profits, but also environmental and social issues, in order to ensure the sustainable development of the firm. By using advanced methodological approaches and exploring sustainability through a holistic view, this thesis contributes significantly to sustainability performance literature. Three specific objectives have been fulfilled through three papers that constitute the main body of the present thesis. The first article aims to answer whether profitable business is compatible with balanced sustainability by investigating the relationship between the economic, social, environmental and governance performance for a sample of global firms. A canonical vine (C-vine) copula is used for this purpose. Results show the existence of a fairly strong positive relationship between economic, social and environmental performance. The corporate governance dimension is shown to have a weak relationship with the rest of the corporate social responsibility (CSR) dimensions. Important policy implications are derived from these results. The second paper investigates the relationships among performance dimensions associated with corporate social responsibility focusing on the U.S. electric utility sector. Results of a statistical copula approach suggest that economic performance of utilities is compatible with environmental, social, and governance performance. The CSR model has the potential to help U.S. electric utilities become better corporate citizens while also obtaining higher economic profits. The third paper investigates farms’ stochastic production technology as the interaction of three-main types of sub-technologies that govern, respectively, the production of agricultural commodities, environmental pollution, and social outputs of agricultural activities. The model is empirically implemented through a Data Envelopment Analysis (DEA) model. The empirical application is based on a survey of Catalan arable crop farms. On average, we find our sample farms to display high technical and social performance, while they show relatively poor environmental performance. Esta tesis aborda la cuestión de la sostenibilidad y el rendimiento de la empresa. En el modelo de negocio contemporáneo, la medición del rendimiento de la empresa debe tener en cuenta no solo las ganancias económicas, sino también las cuestiones ambientales y sociales, para garantizar el desarrollo sostenible de la empresa. Mediante el uso de enfoques metodológicos avanzados y la exploración de la sostenibilidad a través de una visión holística, esta tesis contribuye significativamente a la literatura sobre la sostenibilidad. Tres objetivos específicos se han cumplido a través de tres documentos que constituyen el cuerpo principal de la presente tesis. El primer artículo tiene como objetivo responder si el negocio rentable es compatible con la sostenibilidad equilibrada, mediante la investigación de la relación entre el desempeño económico, social, medio-ambiental y de gobernanza de una muestra de empresas globales. Un modelo canónico de viña de copulas (C-vine) se usa para este propósito. Los resultados muestran la existencia de una relación positiva bastante fuerte entre el desempeño económico, social y ambiental. Se muestra que la dimensión de gobernanza corporativa tiene una relación débil con el resto de las dimensiones de la responsabilidad social corporativa (RSC). Importantes implicaciones de política se derivan de estos resultados. El segundo articulo investiga las relaciones entre las dimensiones de desempeño asociadas con la responsabilidad social corporativa que se centran en el sector de servicios eléctricos de los EE. UU. Los resultados obtenidos del análisis de las cópulas sugieren que el desempeño económico de las empresas eléctricas es compatible con el desempeño ambiental, social y de gobernanza. El modelo de la RSC tiene el potencial de ayudar a que los servicios eléctricos de los EE. UU. Se conviertan en mejores ciudadanos corporativos mientras se logran mayores beneficios económicos. El tercer trabajo investiga la tecnología de producción estocástica de las explotaciones agrícolas como una interacción de tres sub-tecnologías que gobiernan, respectivamente, la producción de productos agrícolas, la contaminación ambiental y los productos sociales de las actividades agrícolas. El modelo se implementa empíricamente a través de un modelo de Análisis Envolvente de Datos (DEA). La aplicación empírica se basa en una encuesta de explotaciones de cultivos en la región de Cataluña. En promedio, encontramos que nuestras explotaciones muestran un alto desempeño técnico y social, mientras que muestran un desempeño ambiental relativamente pobre.

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Renewable Energy Firm’s Performance Analysis Using Machine Learning Approach

Rastogi

Jaiswal

2020

Procedia Computer Science

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Impact of renewable energy law on the correlation between CSR and Financial Performance

Cited by 3 publications

References 5 publications

Does corporate social performance improve environmentally adjusted efficiency? Evidence from the energy sector

Does corporate social performance improve environmentally adjusted efficiency? Evidence from the energy sector

Sustainability and firm performance : evidence from corportate and farm level

Renewable Energy Firm’s Performance Analysis Using Machine Learning Approach

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