Going ESG: The Economic Value of Adopting an ESG Policy

Maya Finger · Mosi Rosenboim

39 citations0/0 files storedSustainability

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

Abstract

Does having an environmental, social, and governance (ESG) policy have an impact on stakeholders? This research presents a unique model that allows us to measure the economic value of adopting an ESG policy for financial institutions’ stakeholders. Using the results of a questionnaire distributed among financial institution employees and customers, we find that, on average, employees are willing to forgo 11% of their salary to work for a company that has adopted and implemented such a policy. In addition, customers are willing to pay 47% more in management fees to do business with financial institutions that have such a policy. To our knowledge, this is the first study that quantifies the benefits for financial institutions stakeholders of adopting an ESG policy.

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2003Corporate Social and Financial Performance: A Meta-Analysis 2001Corporate Social Responsibility: A Theory of the Firm Perspective 1988Status quo bias in decision making 2003Misery Loves Companies: Rethinking Social Initiatives by Business 2001Does Doing Good Always Lead to Doing Better? Consumer Reactions to Corporate Social Responsibility 2014The Impact of Corporate Sustainability on Organizational Processes and Performance 2001Shareholder value, stakeholder management, and social issues: what's the bottom line?2006Corporate Social Responsibility, Customer Satisfaction, and Market Value

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