Impact of Sustainability Performance of Company on its Financial Performance: A Study of Listed Indian Companies

Priyanka Aggarwal

103 citations0/0 files storedGlobal Journal of Management and Business Research

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Corporate Social Responsibility Reporting Environmental Sustainability in Business Sustainable Finance and Green Bonds

Abstract

Sustainability is a crucial issue for corporate world today. The interest of investors in Socially Responsible Investment (SRI) has grown substantially over last decade. Thus, sustainability has potential to influence company performance. The purpose of this paper is to find "whether sustainable companies are more profitable". Various researches were conducted in past for examining this relationship. Results, however, have been mixed and inconclusive. Moreover, most of the studies have been conducted in context of developed countries. The purpose of this paper is to examine impact of sustainability rating of company on its financial performance in an Indian context using secondary data. We also separately analyze impact of four key components of sustainability (i.e. Community, Employees, Environment and Governance) on financial performance. We find no significant association between overall sustainability rating and financial performance. However, further analysis reveals that four components of sustainability have significant but varying impact on financial performance.

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References

2010Strategic management a stakeholder approach 2010Voluntary Nonfinancial Disclosure and the Cost of Equity Capital: The Initiation of Corporate Social Responsibility Reporting 2006Corporate Social Performance and Stock Returns: UK Evidence from Disaggregate Measures 1994The implications of Organizational Legitimacy for Corporate Social Performance and Disclosure 2007Sustainable Development and Corporate Performance: A Study Based on the Dow Jones Sustainability Index 2011Sustainability Practices and Corporate Financial Performance: A Study Based on the Top Global Corporations 2008The stocks at stake: Return and risk in socially responsible investment 2008The Wages of Social Responsibility

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