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DOES ENVIRONMENTAL, SOCIAL AND GOVERNANCE PERFORMANCE INFLUENCE ECONOMIC PERFORMANCE?

184 citations0/0 files storedJournal of Business Economics and Management

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Corporate Social Responsibility Reporting Environmental Sustainability in Business Corporate Governance and Financial Management

Abstract

The purpose of this paper is to evaluate the influence of environmental, social and governance performance on the economic performance of the Standard & Poor’s 500 companies. Structural equation modeling and linear regression have been utilized to measure the overall and individual influence of environmental, social and governance (ESG) performance on economic performance using longitudinal data comprising the years from 2010 to 2015. The overall ESG model had a significant relationship on economic performance. Furthermore, the findings of this study show that social and governance performance significantly affects economic performance in all regression models. However, environmental performance failed to show a significant relationship. The research contributes to the literature by providing insights for investors, managers and employees about the influence of ESG performance on company performance.

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References

1999Cutoff criteria for fit indexes in covariance structure analysis: Conventional criteria versus new alternatives 1994Testing Structural Equation Models.1995A Stakeholder Framework for Analyzing and Evaluating Corporate Social Performance 1997THE CORPORATE SOCIAL PERFORMANCE-FINANCIAL PERFORMANCE LINK 1995The Stakeholder Theory of the Corporation: Concepts, Evidence, and Implications 2003Misery Loves Companies: Rethinking Social Initiatives by Business 1997A RESOURCE-BASED PERSPECTIVE ON CORPORATE ENVIRONMENTAL PERFORMANCE AND PROFITABILITY.2015ESG and financial performance: aggregated evidence from more than 2000 empirical studies

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