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1
Oncioiu, Ionica, Anca-Gabriela Petrescu, Florentina-Raluca Bîlcan, Marius Petrescu, Delia-Mioara Popescu, and Elena Anghel. "Corporate Sustainability Reporting and Financial Performance." Sustainability 12, no. 10 (May 24, 2020): 4297. http://dx.doi.org/10.3390/su12104297.
Анотація:
In the past few decades, business performance has been approached from a multidimensional perspective, because a pro-active corporate sustainability reporting system for assessing the financial performance of an organization should at least address impacts at the organization and community levels, as well as the resulting associated social impacts. The purpose of this research was to identify the accessibility of corporate sustainability reporting instruments for Romanian managers and their role in increasing the financial performance of organizations. This study concludes that corporate social reporting indicators can be integrated into the reporting of the financial performance of a company and can transform sustainability into tangible value for all interested parties. In addition, the empirical results contribute to the understanding of corporate social responsibility practices; although being non-financial, these seem to be financially meaningful at a certain level after other financial factors are controlled for.
2
L. Kobo, Kgabo, and Collins C. Ngwakwe. "Relating corporate social investment with financial performance." Investment Management and Financial Innovations 14, no. 2 (August 21, 2017): 367–75. http://dx.doi.org/10.21511/imfi.14(2-2).2017.08.
Анотація:
Previous researchers have found conflicting results between CSI and firm financial performance. This paper moves this debate further by examining the extent to which corporate social investment (CSI) relates with corporate financial performance (CFP) from a developing country perspective. The main aim of the paper was to determine the relationship between CSI, stock price, sales turnover and return on equity (ROE) amongst the socially responsible investing (SRI) companies in the Johannesburg Stock Exchange. CSI data on the SRI companies were collected from companies’ integrated reports from 2011 to 2015. Therefore, a cross-sectional panel data arrangement was applied and the analysis was conducted using the ordinary least square (OLS). Tested at an alpha level of 0.05, the regression result produced a probability level of P < 0.01 for share price and sales turnover; and P = 10 for return on equity. Therefore, the findings revealed a strong positive and significant linkage between the SRI companies’ social investment, share price and sales turnover and no significant linkage with return on equity. These findings are consistent with previous literature findings reviewed in the paper on similar research conducted in developed countries, which showed positive and negative relationships. Findings from the literature indicate that various factors may account for conflicting results, which includes inter alia, time coverage, size of data, location, market sustainability awareness and culture. The paper contributes by revealing that whilst CSI may trigger improvement in stock price and sales turnover of SRI companies, the sales turnover might not necessarily result in boost in profit level that could engender enough return on equity within a short period time. The conflicting results from the literature is indicative of the inclusiveness in research between CSI and firm performance. Hence, the paper recommends further research to examine the relationship within a longer period of time using new sample of companies and other methods of analysis.
3
Weber, Olaf. "Corporate sustainability and financial performance of Chinese banks." Sustainability Accounting, Management and Policy Journal 8, no. 3 (July 3, 2017): 358–85. http://dx.doi.org/10.1108/sampj-09-2016-0066.
Анотація:
Purpose This paper analyzes the connection between the sustainability performance of Chinese banks and their financial indicators to explore whether sustainability regulations can be implemented without decreasing the financial performance of the banking sector. Design/methodology/approach The study examined reports and websites of Chinese banks, categorized different corporate sustainability aspects and conducted panel regression and Granger causality to analyze cause and effect variables. Findings The environmental and social performance of Chinese banks increased significantly between 2009 and 2013. Furthermore, a bi-directional causality between financial performance and sustainability performance of Chinese banks has been found. Based on institutional theory, this interaction may be influenced by the Chinese Green Credit Policy. Research limitations/implications The findings suggest that corporate sustainability performance and financial performance are not a trade-off but correlate positively. Further research is needed to analyze the effect of financial regulations, such as the Chinese Green Credit Policy. Practical implications According to the good management theory by Waddock and Graves (1997) that claims a positive impact of corporate social performance on financial performance, Chinese banks can invest in corporate sustainability to increase their financial success and re-invest parts of the additional returns – also called slack resources – in sustainability activities. Social implications Chinese banks are able to influence the economy to become greener and less polluting without sacrificing financial returns. Originality/value This is the first study to explore the sustainability performance of Chinese banks, including their products and services.
4
Maletic, Matjaž, Damjan Maletic, Jens Dahlgaard, Su Mi Dahlgaard-Park, and Boštjan Gomišcek. "Do corporate sustainability practices enhance organizational economic performance?" International Journal of Quality and Service Sciences 7, no. 2/3 (June 15, 2015): 184–200. http://dx.doi.org/10.1108/ijqss-02-2015-0025.
Анотація:
Purpose – The purpose of this study is to clarify the relation between sustainability practices and financial and market performance, and also, the role of non-financial performance outputs in this relation. Corporate sustainability is a growing area of importance for organizational development. Managing sustainability practices successfully is an imperative in achieving competitive advantage. Design/methodology/approach – Using empirical data based on a large-scale survey among organizations in five countries (i.e. Germany, Poland, Serbia, Slovenia and Spain), this paper utilized mediation analysis to estimate and test the mediated effects in a multiple mediator model. As such, the sizes of indirect effects of sustainability practices on financial and market performance through potential mediators were estimated. Findings – The results showed that innovation performance exerts a mediation effect in the relation between sustainability practices and financial and market performance. The main conclusion is that a greater engagement in sustainability practices leads to an increased innovation performance, which in turn leads to financial and market performance. Originality/value – This paper is one of the first attempts to empirically validate sustainability exploitation and sustainability exploration practices. Besides, the analysis of the direct and indirect effects of sustainability exploration and sustainability exploitation practices on financial and market performance has not been yet addressed to a great extent.
5
Haryono, Untung, Rusdiah Iskandar, Ardi Paminto, and Yana Ulfah. "Sustainability performance: It’s impact on risk and value of the firm." Corporate Ownership and Control 14, no. 1 (2016): 278–86. http://dx.doi.org/10.22495/cocv14i1c1p11.
Анотація:
This study aims to analyze the relationship between the sustainability performances (corporate social performance, good corporate governance, and financial performance) and the risk as well as the value of the company. Employing the data from publicly listed mining firms in Indonesia and structural equation modeling to examine the hypotheses, we find that the corporate social performance improvement can be served to increase the corporate financial performance. Implementation of good corporate governance may contribute to improve financial performance and reduce the risk of the company. In short term, investors will appreciate the social and environmental responsibility undertaken by the company only if its implementation can contribute to the improvement of the company’s financial performance. In long term, social and environmental performance improvements made by the company will be able to increase the value of the company directly. Investors consider companies that apply the principles of good corporate governance not just as regulatory compliance, so that it can provide benefits for improving corporate performance and value of the company, in the short term and long term.
6
Ricordel, Pascal, and Melinda Majlath. "Is Listed Corporates Financial Performance Vulnerable? ROE Factors measurement Using DuPont Formula." European Journal of Sustainable Development 8, no. 3 (October 1, 2019): 294. http://dx.doi.org/10.14207/ejsd.2019.v8n3p294.
Анотація:
It’s been 10 years since the last financial crisis, and the rising in stock market price along with record dividends raises deep concerns about the sustainability of listed corporate financial performance. Has the narrow logic of shareholder value been compromising long term financial performance leading to a financial crisis? We question here the DuPont equation to track financial performance drivers over time for discussing about its vulnerability. A disaggregated five-steps DuPont equation is used to set up following drivers: operational profitability, asset turnover, leverage multiplier, interest and fiscal burden. We draw a statistical analysis of those drivers with a panel data of 43 international non-financial corporates from France, Germany, Hungary and Italy between 2012 and 2017. The results stress the role of fiscal burden, interest burden and operational profit as the main ROE driver. Leverage multiplier driver, consensually considered as more financially vulnerable, has played an astonishing negative role. The drop in asset turnover is however the more worried signal as this factor is the most sustainable. Keywords: ROE components, DuPont equation, Financial sustainability, Listed corporate performance, Financial reporting
7
García-Benau, María Antonia, Nicolás Gambetta, and Laura Sierra-García. "Financial Risk Management and Sustainability." Sustainability 13, no. 15 (July 25, 2021): 8300. http://dx.doi.org/10.3390/su13158300.
Анотація:
In the last decades, the studies that analyze the links between corporate social responsibility and financial performance in developed countries show mixed and inconclusive results, so additional research is required [...]
8
Yang, Su Jin, and Seyoon Jang. "How Does Corporate Sustainability Increase Financial Performance for Small- and Medium-Sized Fashion Companies: Roles of Organizational Values and Business Model Innovation." Sustainability 12, no. 24 (December 10, 2020): 10322. http://dx.doi.org/10.3390/su122410322.
Анотація:
The objective of this study was to examine how corporate sustainability can raise the level of corporate financial performance of small- and medium-sized enterprises (SMEs) in the fashion industry by considering the roles of organizational values and business model innovation in forming corporate sustainability. It is meaningful to explore the role of corporate sustainability in SMEs as well as fashion companies considering the recent growth of SMEs in the fashion industry. Practitioners (N = 218) working for SMEs located in South Korea participated in an online survey. Exploratory factor analysis resulted in three organizational values of SMEs: flexibility value, rational value, and hierarchical value. While flexibility has contributed to forming business model innovation and sustainability, having a rational value has impacted business model innovation and financial performance. A hierarchical value affected only corporate sustainability. However, business model innovation did not show any significant impact on corporate sustainability or financial performance. Finally, corporate sustainability positively influenced financial performance only for SMEs that had experience practicing at least three sustainable activities. These results have implications for how SMEs manage sustainability to enhance financial performance.
9
Khattak, Sajid Rahman, Imran Saeed, and Bilal Tariq. "Corporate Sustainability Practices and Organizational Economic Performance." Global Social Sciences Review III, no. IV (December 30, 2018): 343–55. http://dx.doi.org/10.31703/gssr.2018(iii-iv).22.
Анотація:
Since last decade corporate sustainability has been of great interest to practitioners and researchers, both. Successful implementation of sustainability practices is vital for organizational survival and competitive advantage. Based on institutional theory, this study aims at to enhance understanding regarding the relationship of sustainability practices and corporate performance directly and indirectly through non-financial performance. Data from managerial level employees of manufacturing and services providing organizations of Pakistan was collected through a survey questionnaire. Based on 346 participants’ responses we found that sustainability practices (exploration and exploitation) have significant relationship with financial and market performance. The multi-mediation analysis shows that all mediators partially mediate the relationship between sustainability practices and corporate performance. In the context of Pakistan, this study is the first of its kind to validate sustainability practices scale.
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Ligar Hardika, Andhika, Daniel T. H. Manurung, and Yati Mulyati. "Corporate Governance Mechanism, Company Size Financial Performance and Sustainability Reporting." International Journal of Engineering & Technology 7, no. 4.34 (December 13, 2018): 201. http://dx.doi.org/10.14419/ijet.v7i4.34.23888.
Анотація:
The importance of sustainability reporting for companies to be able to know the role of the company in disclosing social responsibility and the implementation of corporate sustainability as a manifestation of corporate governance mechanisms, company size and financial performance. This study uses a stratified random sampling method for companies that have revealed sustainability reports and those that do not disclose sustainability reports. The research method uses logistic regression, with a sample of 13 non-financial companies listed on the Indonesia Stock Exchange. Based on the results obtained, it can be seen that the mechanism of corporate governance consisting of independent commissioner variables has a negative influence on sustainability reporting, institutional ownership variables have a positive influence on sustainability reporting, managerial ownership variables have a negative influence on sustainability reporting, audit committee variables have a negative effect on sustainability reporting, the variable size of the company gives a negative influence on sustainability reporting, and financial performance variables which are leverage variables have a negative influence on sustainability reporting.
11
Vasylchuk, Iryna, and Kateryna Slyusarenko. "SUSTAINABILITY AS A CORPORATE VALUE CREATOR." Scientific Journal of Polonia University 27, no. 2 (April 6, 2018): 90–100. http://dx.doi.org/10.23856/2710.
Анотація:
The article explores current theoretical and practical approaches to expanded implementation of the principles of sustainable development paradigm within corporations. The essence of Sustainable Corporation and Sustainability as a factor of formation of the long-term corporation value is determined; the relationships between corporate social and financial performance are described; the existing methods for developing sustainability key performance indicators are discussed. The authors present a structural-logical scheme and algorithm of assessment of sustainable value added using indirect method. The scheme characterizes the distribution of the value among internal and external, financial and non-financial stakeholders.
12
Benetyte, Raminta, Halit Gonenc, and Rytis Krusinskas. "Corporate Governance vs. Financial Performance for Intensity of Innovation Investments." Sustainability 13, no. 9 (April 29, 2021): 5014. http://dx.doi.org/10.3390/su13095014.
Анотація:
In a rapidly changing technology world, companies need to conform to their customers’ expectations if they wish to remain competitive in the marketplace. New products, services, processes, marketing, management, and organizational innovation can all be tools to keep companies competitive. Research and development (R&D) expenditure is a critical component in the development of a design process. According to the scientific literature, corporate governance and financial performance can be essential variables with a significant impact on the innovation process. By acting transparently and honestly with all stakeholders (employees, suppliers, customers, creditors, government, community), companies can ensure and enhance the economic sustainability of the whole country through efficient management of financial resources and work toward high value-added innovation. Therefore, the aim of this work was to analyze whether corporate governance and financial performance affect the development of corporate innovation investments and, at the same time, the sustainability of the country’s economy. Additionally, this research proposes a methodology for integrated assessment of corporate innovation investments in the context of economic sustainability, aimed at companies and countries for more efficient investment in innovation and sustainable development outcomes. The object of the research was corporate innovation investment intensity as the driver for economic sustainability. An evaluation methodology for integrated assessment of corporate innovation investment can be used as an instrument for the stimulation of business innovation and strategic development of a country’s economy. The evaluation methodology of integrated assessment of corporate innovation investments can be utilized to evaluate different companies and governments. Evidence-based empirical calculations show that synchronized corporate governance and financial performance influence the intensity of corporate innovation investments in the context of economic sustainability.
13
DiSegni, Dafna M., Moshe Huly, and Sagi Akron. "Corporate social responsibility, environmental leadership and financial performance." Social Responsibility Journal 11, no. 1 (March 2, 2015): 131–48. http://dx.doi.org/10.1108/srj-02-2013-0024.
Анотація:
Purpose – The purpose of this paper is to statistically assess the relationship between corporate characteristics, environmental contribution and financial performance. To this end, the authors compare the financial performance of all US corporations making up the Dow Jones Sustainability Indexes, being the most proactive companies in providing services and goods, while maintaining ethical responsibility and environmental sustainability. Design/methodology/approach – Various performance measures are compared to the mean performance of the related industry, sector and market portfolio. We employ an analysis for several time horizons of the financial measures. Findings – Analysis by the authors suggests that firms that are proactive in supporting social responsibility and environmental sustainability (SRES corporations) are characterized by significantly higher profit measures than the industry and the sector, though not higher than the entire market. They have lower short-term liquidity measures than those of the industry and related sector, and surprisingly, their long-term leverage is significantly higher. Strong SRES corporations are characterized by significantly higher managerial efficiency ratios than the respective industry and sector. Interestingly, however, the per-worker operating efficiency ratios are significantly lower than for all of the benchmarks. Practical implications – The revealed preference of corporations can be extracted from several horizon dependent financial measures. For instance, we could infer the corporate degree of SRES from their long-term capital structure, i.e. their long-term leverages and short-term liquidity measures. Originality/value – These results illustrate the strong relation between social and environmental sustainability, and long-term business plans in respect to the corporate capital structure.
14
Retnosari, Retnosari. "PENGARUH DIMENSI SUSTAINABILITY REPORTING TERHADAP KINERJA KEUANGAN PADA PERUSAHAAN YANG TERDAFTAR DI BURSA MALAYSIA." Jurnal Ilmiah Akuntansi dan Keuangan 7, no. 1 (November 7, 2018): 68–79. http://dx.doi.org/10.32639/jiak.v7i1.269.
Анотація:
This study aims to analyze sustainabilty dimensions of sustainability reporting positive effect on the financial performance of companies in Malaysia. This research is quantitative method of the archival research. Furthermore sampling in this study using purposive sampling and this research using descriptive analysis and multiple regression analysis.This study found existing positive influence dimensions of sustainability reporting which consists of the economic, environmental, labor, human rights, social and product responsibility on the financial performance in the company's Malaysia.Key words: corporate social responsibility, sustainability, financial performance
15
Jordão, Ricardo Vinícius Dias, and Vander Ribeiro de Almeida. "Performance measurement, intellectual capital and financial sustainability." Journal of Intellectual Capital 18, no. 3 (July 10, 2017): 643–66. http://dx.doi.org/10.1108/jic-11-2016-0115.
Анотація:
Purpose One of the main contemporary challenges in organisations is finding ways of measuring their intellectual capital (IC), and its effects on competitiveness and financial sustainability. The purpose of this paper is to analyse the influence of IC on the long-term financial performance of Brazilian companies. Design/methodology/approach Considering that previous studies have not been able to explain the role of IC in financial sustainability (measured by long-term corporate performance), this paper attempts to fill this gap by means of a quantitative, descriptive and applied study. Based on the theories of knowledge management, accounting and finance, the authors have undertaken a study of the companies listed on the BM&FBovespa, based on secondary data, using a multi-industrial cut, over the period 2005 to 2014, using descriptive and multivariate statistics. Findings The analysis supports three major conclusions: IC influences positively the profitability and corporate return of these companies; the more intangible-intensive public companies listed on the BM&FBovespa demonstrate higher financial sustainability than the others, in terms of profitability and corporate return, either individually, globally or by industry; and that IC helps increase financial performance, systematically, over time. Research limitations/implications Contributions of the following types were sought: theoretical (increasing an understanding of the effects of IC on business performance from a long-term perspective – an understanding that is still only incipient in the management literature); and empirical (increasing an understanding of the role of IC in the differentiation of companies, in organisational profitability and on the return on applications of resources). Practical implications The original proposal for the measurement of financial performance presented in this paper proved to be valid and consistent, complementing what is known about the subject under examination, contributing to the improvement of management theory and practice and providing a competitive benchmarking process. This can make it possible for company analysts or managers to evaluate their company in relation to its industry or its market as a whole by means of such indicators, individually or combined with other quantitative or qualitative metrics. Originality/value The results of this research reduce a gap in the management and accounting literature, as they shed light on the performance measurement process. In addition to the range and depth of the statistical tests carried out, attention should be drawn to the originality of the proposal presented in this paper. This facilitates the measurement of the effects of IC on financial performance through the selection and application of specific indicators for the assessment of the contribution of IC to organisational results.
16
Oktarina, Dian. "The Effect of Disclosure of Sustainability Report on Financial Distress with Company Performance as Intervening Variables." Journal of Accounting and Strategic Finance 1, no. 02 (November 20, 2018): 87–99. http://dx.doi.org/10.33005/jasf.v1i02.29.
Анотація:
This study examines the effect of sustainability report disclosure on financial distress with corporate performance as an intervening variable. Corporate performance measured by Return on Assets (ROA). Sustainability report disclosure that used in this research were economic, environment, labor practices and decent work, human right, product responsibility, society. The population of this study is non-finance and banking companies listed at IDX. The sample of this research were 29 non-finance and banking companies listed in IDX during 2012-2016. This research used multiple linear regression and logistic regression method for testing the hypothesis. The results of this research showed that on the first model, sustainability report disclosure doesn't affect the corporate performance. The second model showed that public responsibility aspect of sustainability report disclosure, negative effects on financial distress. The last model showed that corporate performance doesn't affect the financial distress. Therefore, corporate performance can’t be used as an intervening variable. The implications of this study theoretically can provide evidence of the theory being tested related to the effect of sustainability report disclosure on financial distress with company performance as an intervening variable. Practically, this research is expected to be able to give an overview of the importance of sustainability reports disclosure to be made and published periodically by the company because this is considered to improve the performance of the company which will minimize or prevent companies from financial distress.
Keywords: corporate performance, financial distress, product responsibility, sustainability report.
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Clayton, Alexandra F., Jayne M. Rogerson, and Isaac Rampedi. "Integrated reporting vs. sustainability reporting for corporate responsibility in South Africa." Bulletin of Geography. Socio-economic Series 29, no. 29 (September 1, 2015): 7–17. http://dx.doi.org/10.1515/bog-2015-0021.
Анотація:
AbstractLarge corporates have come under increasing pressure to conduct their business in a more transparent and responsible manner. In order for business to fulfil its obligations under the ethic of accountability stakeholders must be given relevant, timely, and understandable information about their activities through corporate reports. The conventional company reports on annual financial performance, sustainability and governance disclosures often fail to make the connection between the organisation’s strategy, its financial results and performance on environmental, social and governance issues. Recognising the inherent shortcomings of existing reporting models, there is a growing trend to move towards integrated reporting. South Africa has been one of the most innovative countries in terms of integrated corporate reporting. Since 2010 companies primarily listed on the country’s major stock exchange have been required to produce an integrated report as opposed to the former sustainability report. The aim in this study is to review the development of integrated reporting by large corporates in South Africa and assess the impact of the required transition from sustainability reporting to integrated reporting on non-financial disclosure of eight South African corporates using content analysis of annual reports.
18
Latifah, Sri Wahjuni, Muhammad Fahminuddin Rosyid, Lilik Purwanti, and Tri Wahyu Oktavendi. "ANALYSIS OF GOOD CORPORATE GOVERNANCE, FINANCIAL PERFORMANCE AND SUSTAINABILITY REPORT." Jurnal Reviu Akuntansi dan Keuangan 9, no. 2 (July 24, 2019): 200. http://dx.doi.org/10.22219/jrak.v9i2.8902.
Анотація:
This study aims to analysiss and examine the effect of the financial performance and good corporate governance on sustainability report. Financial performance is measured using ROA. Good corporate governance mechanisms used are managerial ownership, independent commissioner board, board of directors and independent audit committee. The population is state-owned companies listed in the Indonesia Stock Exchange during 2011-2014. A purposive sampling method is used as a sampling method and 13 companies are selected as samples. A multiple linear regression analysis using SEM-PLS program is employed as a data analysis tool. The results show that the ROA, the board of directors, and audit committees affect sustainability reports; while managerial ownership and independent board do not affect sustainability reports.
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Panjaitan, Ingrid. "The Influences of Sustainability Report and Corporate Governance toward Financial and Entity Market Performance with Political Visibility as Moderating Variable." Binus Business Review 8, no. 1 (May 31, 2017): 61. http://dx.doi.org/10.21512/bbr.v8i1.1282.
Анотація:
The aim of this research was to identify the effect of corporate governance and sustainability report on the financial performance of entities, and corporate governance and sustainability report on the market entity with political visibility as moderating variable. Sustainability report was measured by a dummy variable by the Corporate Governance Scorecard with Indonesian Institute for Corporate Directorship (IICD). Then, financial performance as measured by profitability ratio (ROA) and Liquidity Ratio (CR), as well as the market performance were measured using Tobin’s Q. Meanwhile, the political visibility was measured by the log of total assets. The analysis of the data used Path Analysis method with Structural Equation Modeling (SEM). The analysis shows four results by using political visibility as moderating variable. First, the quality of corporate governance affects the financial performance. Second, the quality of corporate governance influences Tobin’s Q. Third, the sustainability report has an effect on the Return on Assets and current ratio. Last, sustainability report also affects Tobin’s Q.
20
Muliaturrohmah Ikhwani, Ananda, Irma Paramita, and Karsam Sunaryo. "Pengaruh Ukuran Perusahaan dan Corporate Governance Terhadap Konerja Keuangan Dengan Pengungkapan Sustaunability Report Sebagai Variabel Intervening." JRB-Jurnal Riset Bisnis 2, no. 2 (June 27, 2019): 147–69. http://dx.doi.org/10.35592/jrb.v2i2.407.
Анотація:
Financial performance can provide an overview of past performance and future prospects of a company. Many companies carry out business activities related to nature but do not disclose sustainability reports. Companies that have a large company size should disclose more information than small companies, including disclosures about the implementation of Corporate Governance and sustainability reports disclosure. With these disclosures of information, it is expected to increase public trust in the company and improve the company's financial performance. This research aims to obtain evidence that company size and Corporate Governance influence financial performance, and the role of Sustainability Report disclosure as mediating the relationship between these variables in nine state-owned enterprises and the mining sector for five years (2013-2017). The results of this study indicate that (1) company size has effects on financial performance; (2) audit committee has effects on financial performance; (3) the board of directors does not affect financial performance; (4) company size has not affect the disclosure of sustainability report; (5) the audit committee has not affect the disclosure of sustainability report; (6) the board of directors has effect the disclosure of sustainability report; and (7) Sustainability Report disclosure can’t mediate the influence between company size/Corporate Governance on financial performance.
21
Conlon, Edward J., and Ante Glavas. "The Relationship Between Proactive Corporate Sustainability and Firm Financial Performance." Academy of Management Proceedings 2012, no. 1 (July 2012): 12716. http://dx.doi.org/10.5465/ambpp.2012.12716abstract.
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Kostopoulos, Konstantinos, Evangelos D. Syrigos, and Giorgos Papagiannakis. "Corporate Sustainability and Financial Performance: Complementarity and Time Related Effects." Academy of Management Proceedings 2012, no. 1 (July 2012): 12872. http://dx.doi.org/10.5465/ambpp.2012.12872abstract.
23
Nandi, Sushanta Kumar, and Ranjan Kumar Bal. "Corporate Sustainability Performance and Financial Performance of Indian Companies: A Relational Study." Asian Journal of Management 7, no. 1 (2016): 56. http://dx.doi.org/10.5958/2321-5763.2016.00009.3.
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Laskar, Najul, Tapan Kumar Chakraborty, and Santi Gopal Maji. "Corporate Sustainability Performance and Financial Performance: Empirical Evidence from Japan and India." Management and Labour Studies 42, no. 2 (May 2017): 88–106. http://dx.doi.org/10.1177/0258042x17707659.
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Weber, Olaf, and Rezaul Karim Chowdury. "Corporate Sustainability in Bangladeshi Banks: Proactive or Reactive Ethical Behavior?" Sustainability 12, no. 19 (September 27, 2020): 7999. http://dx.doi.org/10.3390/su12197999.
Анотація:
The purpose of this study is to analyze the connection between the sustainability performance and financial performance of Bangladeshi banks to explore the impact of the Bangladesh Environmental Risk Management Guideline. We analyzed all 56 scheduled commercial banks that are currently operating in Bangladesh under the guidelines of the Central Bank of Bangladesh. Data for the sample has been collected from publicly available reports such as annual, sustainability, and corporate social responsibility (CSR) reports, disclosed sustainability and financial information on the banks’ websites, including all bank branches, and data published from the Central Bank. Data has been analyzed using panel regression. Our results indicate that higher sustainability performance creates a higher financial performance, and that bigger banks perform better with regard to sustainability than smaller banks. The analysis did not find, however, that higher financial performance influences the sustainability performance of the banks positively. Consequently, this research contributes to the research on legitimacy-driven behavior of Bangladeshi banks. This behavior rather leads to a reactive adoption of sustainability activities instead of proactive behavior.
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Nulla, Yusuf Mohammed. "Corporate citizenship reporting and managers pay: A study of senior management and board influence." Corporate Board role duties and composition 11, no. 3 (2015): 25–36. http://dx.doi.org/10.22495/cbv11i3art3.
Анотація:
This research study explores the determinants of the executive compensation from a social, sustainability, governance, and financial perspectives. The quantitative research method is used for this research study. This research finds that there is a significant positive correlation between executive compensation, social and environmental performance, corporate governance, employee participation, and market and financial performance. However, it also finds that there is a weak negative correlation between executive compensation and sustainability costs. The negative correlation between social performance and sustainability costs. The negative correlation between sustainability costs and corporate governance. The positive correlation between social performance, corporate governance, and stock price.
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Oprean-Stan, Camelia, Ionica Oncioiu, Iulia Cristina Iuga, and Sebastian Stan. "Impact of Sustainability Reporting and Inadequate Management of ESG Factors on Corporate Performance and Sustainable Growth." Sustainability 12, no. 20 (October 15, 2020): 8536. http://dx.doi.org/10.3390/su12208536.
Анотація:
The purpose of this research study is to examine and explain whether there is a positive or negative linear relationship between sustainability reporting, inadequate management of economic, social, and governance (ESG) factors, and corporate performance and sustainable growth. The financial and market performances of companies are both analyzed in this study. Sustainable growth at the company level is introduced as a dimension that depends on sustainability reporting and the management of ESG factors. In order to achieve the main objective of the paper, the methodology here focuses on the construction of multifactorial linear regressions, in which the dependent variables are measurements of financial and market performance and assess corporate sustainable growth. The independent variables of these regressions are the sustainability metrics and the control variables included in the models. Most of the existing literature focuses on the causality between sustainability performance and financial performance. While most impact studies on financial performance are restricted to sustainability performance, this study refers to the degree of risk associated with the inadequate management of economic, social, and governance factors. This work examines the effects of ESG risk management, not only on performance, but also on corporate sustainable growth. It is one of the few studies that addresses the problem of the involvement of companies in controversial events and the way in which such events impact the sustainability and sustainable growth of the company.
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Yilmaz, Ilker. "Social Performance vs. Financial Performance." International Journal of Finance & Banking Studies (2147-4486) 2, no. 2 (April 21, 2013): 53–65. http://dx.doi.org/10.20525/ijfbs.v2i2.146.
Анотація:
In recent decades, it is gaining more and more dominance in both academic and business life that the company exists for and has responsibilities toward a wider group of stakeholders and it must have some objectives other than profitability. To achieve sustainable development and growth, the companies must assume more duties, which is called the term “corporate social responsibility (CSR).” In the literature, it is questioned whether CSR activities benefit the company or not; whether there is any relationship exists between CSR activities and the company’s financial performance and the direction of the relationship. We aimedto explore that whether there is any effect corporate social performance (CSP) on financial performance and position and vice versa. We performed content analysis through annual reports and derived a social score composed of the items included in disclosure guidelines and some criteria used in CSR ratings. We also used several financial position and financial performance indicators. In order to explore the relationship between CSP and financial indicators, we run panel data regressions. We found significant results for some of the indicators, where some of the indicators gave insignificant results. The reporting of CSR activities is in very low levels. The conscious toward CSR and sustainability must be promoted and the companies must assume more active roles. The reporting of those activities is also important.
29
Siminica, Marian, Mirela Cristea, Mirela Sichigea, Gratiela Georgiana Noja, and Ion Anghel. "Well-Governed Sustainability and Financial Performance: A New Integrative Approach." Sustainability 11, no. 17 (August 22, 2019): 4562. http://dx.doi.org/10.3390/su11174562.
Анотація:
This study investigates the interlinkages between the dimensions of corporate social responsibility (CSR-economic, environmental, social), financial performance (ROA, ROE), and corporate governance (CG), by applying the structural equation modeling technique (SEM). It is based on a sample of 614 large companies from the European Economic Area, covering specific indicators published by the Thomson Reuters database, for the years 2013–2017. The equation models are structured starting from isolated dependencies between variables, up to the global ones (direct, indirect, and total dependencies). The mixed results obtained imply that the nature and heterogenous content of CSR lead to different statistical dependencies for each of the two financial performance indicators. ROA is positively influenced by the economic dimension of CSR, but, the level of this rate does not necessarily contribute to an increase in the involvement of the company in this type of CSR actions. At the same time, ROA is influenced and affects in a negative way the environmental and social dimensions of CSR. In the case of ROE, it is influenced and impacts the economic and social dimensions in a positive way. The environmental dimension of CSR influences ROE positively, but it is negatively affected by this profitability rate. Corporate governance exerts a positive impact on all of the model’s variables, both as a direct and indirect factor of influence.
30
Sofia, Irma Paramita. "THE IMPACT OF GOVERNANCE EFFECTIVENESS AND COMPANY SIZE ON ENVIRONMENTAL PERFORMANCE." EAJ (ECONOMICS AND ACCOUNTING JOURNAL) 2, no. 2 (August 12, 2019): 76. http://dx.doi.org/10.32493/eaj.v2i2.y2019.p76-85.
Анотація:
In making rational decisions, investors need complete, accurate, and timely information. Companies can disclose information such as the implementation of good corporate governance, financial performance, and sustainability report. This research aims to obtain evidence that good corporate governance and corporate size have an effect on environmental performance. We use sustainability reporting disclosure as a proxy for the environmental achievement of the company. This study indicates that (1) good corporate governance has no effects on environmental performance; (2) corporate size has no effects on sustainability report disclosure.
31
Nilawati, Yuana Jatu, Elis Purwanti, and Fithri Alvionita Nuryaman. "THE EFFECT OF STAKEHOLDERS’ PRESSURE AND CORPORATE FINANCIAL PERFORMANCE ON TRANSPARENCY OF SUSTAINABILITY REPORT." Jurnal Akuntansi Trisakti 5, no. 2 (August 16, 2019): 225. http://dx.doi.org/10.25105/jat.v5i2.4867.
Анотація:
<em>The purpose of this research is to investigate the effect of stakeholder’s pressure and corporate financial performance on transparency of sustainabilty report. The population of this research comprises as State-owned Enterprise (SOE) listed on Indonesia Stock Exchange (IDX) during years 2013-2017. The technique of determining the sample used purposive sampling. This research uses a multiple linear regression. Form this research, proved that environmental sensitive industry, investor oriented industry, and corporate financial performance have effect simultaneously toward transparency of sustainabilty report. This research also proved that partially environmental sensitive industry, investor oriented industry, and corporate financial performance have positive effect toward transparency of sustainabilty report.</em>
32
Fajriyanti, Nurul, Eko Ganis Sukoharsono, and Noval Abid. "Examining the effect of diversification, corporate governance and intellectual capital on sustainability performance." International Journal of Research in Business and Social Science (2147- 4478) 10, no. 2 (March 21, 2021): 12–20. http://dx.doi.org/10.20525/ijrbs.v10i2.1053.
Анотація:
This study aims to examine and analyze the effect of diversification, corporate governance and intellectual capital on sustainability performance, either directly or indirectly, by involving financial performance as a mediating variable. This study uses secondary data on Islamic Commercial Banks in Indonesia which are registered with the Financial Services Authority from 2011 - 2018, with a sample size of 10 Islamic banks that meet the criteria using the purposive sampling method so that 80 observations are obtained. Data is obtained from annual reports, sustainability reports, and reports on the implementation of good corporate governance. The data analysis technique used SEM-PLS with the help of WarpPLS 7.0 software. The results of the study provide empirical evidence that both the quality and quantity of corporate governance, intellectual capital and financial performance have a positive effect on sustainability performance.
33
Pan, Chung-Lien, Lin Yu, Zhuoshan Lin, Jialong Li, and Yu-Chun Pan. "Scientometric Analysis of Corporate Social Responsibility, Corporate Social Performance and Financial Performance Based on Corporate Governance." E3S Web of Conferences 214 (2020): 03014. http://dx.doi.org/10.1051/e3sconf/202021403014.
Анотація:
The economic growth and social responsibility of the company have become hot topics of concern to society. Fulfilling a company’s obligations of social responsibility can establish a good corporate image and benefit the company’s long-term development. Tracking the research fronts in this field can help to understand the hotspots that scholars pay attention to and fill the gaps in the field. We used the scientometric analysis to explore corporate governance research from 1987 to 2020 based on the Web of Science (WoS) database. Our research shows that corporate social responsibility focus on topics such as sustainability, social responsibility, and shareholders, and financial performance will be more skewed towards financial crisis, company value, and other research. The main publications are the Journal of Business Ethics and Corporate Governance-An International Review. The increase in the number of publications and citations reflects the strong interest of scholars in this research area. In this area, the organizations of developed countries are dominant, especially the United States, and China has the largest number of funding agencies, suggests that the economic powers are paying more attention to the literature on economic management. However, corporate social performance articles are relatively small, and strengthening this area can become a future research direction. strengthening this area can become a future research direction.
34
Sroufe, Robert, and Venugopal Gopalakrishna-Remani. "Management, Social Sustainability, Reputation, and Financial Performance Relationships: An Empirical Examination of U.S. Firms." Organization & Environment 32, no. 3 (February 19, 2018): 331–62. http://dx.doi.org/10.1177/1086026618756611.
Анотація:
With growing evidence of positive relationships between social sustainability and financial performance, there is a critical need for understanding how innovative organizations integrate sustainability and tie theory to practice. The research in this study uses a sample of Fortune 500 firms simultaneously listed in the Newsweek Green rankings, The Corporate Knights Global 100, and the 100 Best Corporate Citizens lists. The analysis from this purposeful sample of leading firms reveals positive relationships between the management of sustainability practices leading to improved social sustainability performance and firm financial performance constructs. The results of this study advance construct and item development involving sustainability management and social sustainability practices while testing relationships to measures of financial performance. Further advances in the field and opportunities for future research involve testing larger cross-sector samples, the development and measurement of social sustainability practices from secondary sources, longitudinal studies, and the evolving nature of organizational performance measurement.
35
Karcagi-Kováts, Andrea. "Performance indicators in CSR and sustainability reports in Hungary." Applied Studies in Agribusiness and Commerce 6, no. 3-4 (November 30, 2012): 137–42. http://dx.doi.org/10.19041/apstract/2012/3-4/20.
Анотація:
Corporate Social Responsibility (CSR) or Corporate Sustainability reporting is a relatively new phenomenon in Hungary. As the external pressure from the civil society, public authorities and the media has so far been fairly low, this important corporate activity emerged only at the beginning of the last decade. In spite of this, several pioneering companies have started to publish information on its environmental and social performance in recent years. CSR and sustainability reports are seen increasingly as strategic documents that offer a balanced, objective, and comprehensive assessment of a firm’s non-financial performance. In 2008 and 2009, more than a third of the 100 largest companies reported on their non-financial results (most of them were GRI based reports). In 2010, sixty-one organisations published a report about their non- financial performance, and 22 of these for only the first time. The aim of this paper is to present recent attempts to use indicators in CSR and sustainability reports. On the basis of a detailed review of 70 CSR/sustainability reports published during the last 9 years in Hungary, an analysis was made on the performance indicators appearing in the reports. The motivations of indicator selection processes was analysed and the intended roles of indicator set in communication and strategy design was presented. The significance of and limits to the proposed indicators was discussed.
36
Lo, Fang-Yi, and Pei-Chun Liao. "Rethinking financial performance and corporate sustainability: Perspectives on resources and strategies." Technological Forecasting and Social Change 162 (January 2021): 120346. http://dx.doi.org/10.1016/j.techfore.2020.120346.
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ENDIANA, I. Dewa Made, Ni Luh Gd Mahayu DICRIYANI, Md Santana Putra ADIYADNYA, and I. Putu Mega Juli Semara PUTRA. "The Effect of Green Accounting on Corporate Sustainability and Financial Performance." Journal of Asian Finance, Economics and Business 7, no. 12 (December 31, 2020): 731–38. http://dx.doi.org/10.13106/jafeb.2020.vol7.no12.731.
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Sempere-Ripoll, Francisca, Sofia Estelles-Miguel, Ronald Rojas-Alvarado, and Jose-Luis Hervas-Oliver. "Does Technological Innovation Drive Corporate Sustainability? Empirical Evidence for the European Financial Industry in Catching-Up and Central and Eastern Europe Countries." Sustainability 12, no. 6 (March 13, 2020): 2261. http://dx.doi.org/10.3390/su12062261.
Анотація:
In the financial industry, two relationships are well-researched: (i) innovation and financial performance and, (ii) sustainability and financial performance, both focused primarily on Western and advanced countries. The relationship between innovation and sustainability, however, is underresearched. This study’s purpose consists of determining whether there is a relationship between innovation and corporate sustainability in the financial industry. In doing so, this study responds to a critical question: are the most innovative firms also the most sustainability-oriented? We empirically explore sustainability-oriented innovation in the financial industry of 11 catching-up countries in Central and Eastern Europe (CEE). Using Community Innovation Survey (CIS) data for 2012–2014, this study empirically analyzes a large sample of 1574 firms in the financial industry. Our results suggest that innovation is positively linked to corporate sustainability, pointing out that innovation capabilities are positively related to sustainability. Our study proposes a framework for analyzing innovation and sustainability from a capability-perspective.
39
Suteja, Jaja, Ardi Gunardi, and Rani Janisa Auristi. "Does Corporate Social Responsibility Shape the Relationship between Corporate Governance and Financial Performance?" Indonesian Journal of Sustainability Accounting and Management 1, no. 2 (December 26, 2017): 59. http://dx.doi.org/10.28992/ijsam.v1i1.33.
Анотація:
The correlation between theoretical and empirical of corporate governance (CG) and corporate financial performance (CFP) is not there without controversy. This paper aims to determine the moderating effects of corporate social responsibility (CSR), on the relationship between corporate governance and corporate financial performance. The sample of this research are banking companies that are listed on Indonesia Stock Exchange between the period of 2010-2014, taken by using purposive sampling method. Moderated Regression Analysis (MRA) analysis was used in this study. The results of this study indicate that corporate governance affects the company's financial performance positively. Aspects of corporate governance such as audit committees and number of board meetings have a positive relationship with financial performance, but there is no relationship from the aspect of independent board of commissioners. Furthermore, CSR can only strengthen the positive relationship between the number of board of commissioners’ meetings and the financial performance of the company. The frequency intensity of board of commissioners’ meetings can increasingly address corporate governance reforms by improving and realizing social responsibility as part of sustainability innovation by optimizing media and CSR reporting methods.
40
Castillo-Merino, David, and Gonzalo Rodríguez-Pérez. "The Effects of Legal Origin and Corporate Governance on Financial Firms’ Sustainability Performance." Sustainability 13, no. 15 (July 23, 2021): 8233. http://dx.doi.org/10.3390/su13158233.
Анотація:
This paper examines the determinants of sustainability performance in the financial industry at the firm, country and legal origin levels. Through the analysis of the ESG score in a sample of 64 countries with 982 financial firms during the period between 2002 and 2018, we find that legal origin is a significant explanatory variable. In particular, our findings indicate that companies based in civil-law countries show higher values of ESG performance than their counterparts in common-law countries, suggesting the prevalence of the stakeholder theory in explaining the willingness of financial firms to engage in sustainability practices. Moreover, and following the assumptions of the “good governance” view, we also assess the joint the effect of corporate governance and legal origin ESG scores, finding that corporate governance structures emerge as a substitution mechanism of sustainability enhancement for financial firms based in common-law countries.
41
Lu, Wenxiang (Lucy), and Martin E. Taylor. "Which Factors Moderate the Relationship between Sustainability Performance and Financial Performance? A Meta-Analysis Study." Journal of International Accounting Research 15, no. 1 (March 1, 2015): 1–15. http://dx.doi.org/10.2308/jiar-51103.
Анотація:
ABSTRACT The relationship between corporate sustainability performance (CSP) and corporate financial performance (CFP) has long been debated. Ullman (1985) pointed out that the conflicting results could be influenced by many factors, such as sample size, industrial context, inconsistent measurement of CSP and CFP, research methodologies, and procedures for data collection and analysis. This paper addresses Ullman's (1985) concerns by providing a more methodologically rigorous review of the CSP-CFP relationship than prior research studies. A meta-analysis of 198 studies yields a total sample size of 31,514 observations. The meta-analytic findings suggest that sustainability performance likely increases a firm's financial performance, especially in the long run. Compared to social sustainability, environmental sustainability, to a larger extent, contributes to the positive CSP-CFP relationship. In addition, CSP appears to be more highly correlated with accounting-based measures of CFP than with market-based indicators. Multi-industry, pre-2000 studies, and non-U.S. sample firms seem to show a stronger impact on the positive relationship between CSP and CFP than other sample indicators. A final finding is that the methodology used in the analysis has a significant impact on the results.
42
Hongming, Xie, Bilal Ahmed, Arif Hussain, Alam Rehman, Irfan Ullah, and Farman Ullah Khan. "Sustainability Reporting and Firm Performance: The Demonstration of Pakistani Firms." SAGE Open 10, no. 3 (July 2020): 215824402095318. http://dx.doi.org/10.1177/2158244020953180.
Анотація:
The nexus between sustainability and firm performance is an area of debate among researchers and academicians. The objective of this study is to examine the level and extent of sustainable financial reporting for non-financial firms in Pakistan and to assess the level of the impact of sustainable financial reporting on firm performance in Pakistan. This study is a novel research work as the sustainability practices are not mandatory in many Pakistani firms. Rather kinds of mix sustainability reporting practices are being practiced. The dilemma still exists whether sustainability practices affect the performance of Pakistani firms positively or not. We collect data from the sustainability reports as well as annual reports of 50 non-financial public limited companies listed in Pakistan Stock Exchange for the period 2013 to 2017. We calculate sustainability reporting index using content analysis procedure based on 42 indicators. The index is based on three subindices, namely, environmental, health and safety, and social indicators. We apply two regression models with a view to ascertain the individual effect of each indicator of the sustainability as well as the composite effect of sustainability reporting index on firm performance. The results confirm positive effects of all three individual indicators as well as the composite form of sustainability reporting index on firm performance. The findings of the study clearly outline the economic relevance for introducing the corporate sustainability reporting practices in corporate strategy.
43
Bilbao-Terol, Amelia, Mar Arenas-Parra, Susana Alvarez-Otero, and Verónica Cañal-Fernández. "Integrating corporate social responsibility and financial performance." Management Decision 57, no. 2 (February 11, 2019): 324–48. http://dx.doi.org/10.1108/md-03-2018-0290.
Анотація:
Purpose Corporate social responsibility (CSR) rating agencies have arisen with the aim of providing external and reliable information about business behaviour. The purpose of this paper is to present a multi-criteria methodology for integrating CSR valuations with the financial performance of companies in a unique measure of global sustainability performance. Design/methodology/approach The authors present a hybrid TOPSIS methodology on transformed scores of both the CSR valuations and the financial ratios. The “attribute-specific evaluation” approach into Multi-attribute Prospect Theory (PT) has been applied and the Design of Experiments (DoE) is used with the TOPSIS value of the firm as the response variable. Findings The proposal has been applied to 118 companies evaluated by Vigeo and Covalence CSR agencies. The authors also have considered five financial ratios of the companies in order to assess their financial performance. Consistent aggregation for firms has been achieved. Relationships between the different rankings, both those of Vigeo and Covalence and the ones constructed in this research, have been analysed. All top 10 Global sustainable firms rank among the top 10 positions in at least one of the remaining rankings. The results show that Vigeo and Covalence provide different information about the CSR behaviour of the companies. Research limitations/implications Another interesting question is to study the discrepancies between Vigeo and Covalence, for example, in which areas there is the greatest divergence between the two agencies and what could be the reasons for this. Practical implications The results of this research could be of interest for both investors who want a global picture of companies in their selection process and stakeholders concerned with CSR issues who want to take advantage of different CSR ratings. Originality/value The application of PT softens the compensatory behaviour of the classical TOPSIS that may prove unsuitable for social evaluation. The DoE allows the aggregation of the weight sets from various decision markers. The combined methodology facilitates the scoring of new firms and the rank reversal problem can be mitigated with this methodology.
44
Lambin, Jean-Jacques. "Global Corporate Accountability." Symphonya. Emerging Issues in Management, no. 1 (October 19, 2020): 45. http://dx.doi.org/10.4468/2020.1.04lambin.
Анотація:
Global corporate accountability refers to the performance of a publicly traded company in non-financial areas such as social responsibility, sustainability and environmental performance. The emergence of global civil regulation is rooted in the perception that economic globalization has created a structural imbalance between the size and power of global firms and markets and the capacity and/or willingness of governments to adequately regulate their corporate conduct. The objective of economic sustainability implies the development within the firm of a societal corporate accountability system, which will help the firm to manage its economic and societal responsibilities and to periodically report to its different stakeholders.
45
Ngwakwe, Collins. "Towards integrating environmental performance in divisional performance measurement." Journal of Governance and Regulation 3, no. 3 (2014): 16–21. http://dx.doi.org/10.22495/jgr_v3_i3_p2.
Анотація:
This paper suggests an integration of environmental performance measurement (EPM) into conventional divisional financial performance measures as a catalyst to enhance managers’ drive toward cleaner production and sustainable development. The approach is conceptual and normative; and using a hypothetical firm, it suggests a model to integrate environmental performance measure as an ancillary to conventional divisional financial performance measures. Vroom’s motivation theory and other literature evidence indicate that corporate goals are achievable in an environment where managers’ efforts are recognised and thus rewarded. Consequently the paper suggests that environmentally motivated managers are important to propel corporate sustainability strategy toward desired corporate environmental governance and sustainable economic development. Thus this suggested approach modestly adds to existing environmental management accounting (EMA) theory and literature. It is hoped that this paper may provide an agenda for further research toward a practical application of the suggested method in a firm.
46
Jung, Seonmin, Changi Nam, Dong-Hoon Yang, and Seongcheol Kim. "Does Corporate Sustainability Performance Increase Corporate Financial Performance? Focusing on the Information and Communication Technology Industry in Korea." Sustainable Development 26, no. 3 (August 25, 2017): 243–54. http://dx.doi.org/10.1002/sd.1698.
47
Keskin, Ayşe İrem, Banu Dincer, and Caner Dincer. "Exploring the Impact of Sustainability on Corporate Financial Performance Using Discriminant Analysis." Sustainability 12, no. 6 (March 17, 2020): 2346. http://dx.doi.org/10.3390/su12062346.
Анотація:
The impact of sustainability on corporate financial performance has been an important subject of both academic and professional debate since the 1990s. However, there is a lack of consensus in the literature, and studies from developing countries remain scarce. Accordingly, this study uses discriminant analysis to shed light on the variables that discriminate between sustainable and non-sustainable companies using the companies included in Borsa Istanbul (BIST100) (Istanbul Stock Exchange) and the Borsa Istanbul Sustainability Index for a three-year period. Financial and market variables are used in the analysis. Financial variables include the return on equity (ROE), return on assets (ROA), leverage ratios, and company size. The analysis also incorporates market variables such as alpha, beta, volatility, earnings per share, and the price to book ratio. The results show that the relationship between sustainability and performance is significantly influenced by the company size, leverage, volatility, and price to book ratio. The large companies are considered to be more sustainable as their commitment is well recognized. In this way, they attract more investors. Therefore, their stock prices are less volatile and achieve a better price to book ratio. They obtain easy access to external financing compared to companies considered to be non-sustainable. Moreover, they are less volatile in the market and better valued by investors.
48
Abughniem, Manal Sulieman, Mohammad Adnan” Hilal Al Aishat Al Aishat, and Allam Hamdan Hamdan. "CORPORATE SUSTAINABILITY AS AN ANTECEDENT TO THE FINANCIAL PERFORMANCE: AN EMPIRICAL STUDY." Polish Journal of Management Studies 20, no. 2 (December 2019): 35–44. http://dx.doi.org/10.17512/pjms.2019.20.2.03.
49
Rohov, Heorhiy, Sergiy Prykhodko, Oleh Kolodiziev, Volodymyr Sybirtsev, and Ihor Krupka. "Factors of national environmental performance in sustainability management aspect." Problems and Perspectives in Management 19, no. 3 (August 4, 2021): 70–84. http://dx.doi.org/10.21511/ppm.19(3).2021.07.
Анотація:
The ambitious goals of environmental sustainability stated in international agreements and national programs require developing strategies to achieve them. At the same time, there is a lack of empirical evidence on the environmental performance factors, which can be purposefully changed to achieve an effective result in the short and medium-term. The paper aims to find the institutional factors of national environmental performance, including financial ones, which might be effectively used as environmental sustainability management tools. For this, the relationships between the Environmental Performance Index (EPI), as the dependent variable, and the indicators of control of corruption, the effectiveness of an anti-monopoly policy, financial opportunities, undue influence, corporate culture, innovation output, GDP, and income growth among the poorest population, using a sample of 81 countries, and the technique for constructing nonlinear regression models based on the normalizing transformations for non-Gaussian data were studied.The study findings show that environmental performance can be predicted with sufficient accuracy by a linear model of its dependence on corruption control, minority shareholders protection, judicial independence, favoritism in decisions of government officials, tax incentives, ease of access to loans, and innovation output. Adding GDP per capita to the explanatory variables of the EPI model does not significantly affect the result accuracy but changes the model shape from linear to nonlinear. The paper substantiates ways to apply results for institutional reforms and sustainability management, such as inflation targeting, public credit guarantee schemes, performance-based loans, etc.
50
Puneeta Goel. "Do Ethics Pay: A Study of Indian Companies." Think India 20, no. 1 (February 15, 2017): 22–28. http://dx.doi.org/10.26643/think-india.v20i1.7776.
Анотація:
Ethical corporate identity has become an important aspect of the global nature of the business. Ethical business behaviour is a way to a better world and may ultimately improve profits. This study establishes a link between different dimensions of ethical corporate identity and financial performance of the company in Indian context. Corporate governance, corporate social responsibility, and sustainability reporting are taken as indicators of business ethics. It was found that ethics and financial performance are significantly and positively correlated, however, only sustainability reporting has a significant impact on marketing ratios of Tobin Q, price to book value, accounting ratios of return on sales, return on capital employed, and return on equity for selected Indian companies. Corporate ethics policy should sensitise moral and ethical behaviour of business leaders.