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Interlinkage between corporate social, environmental performance and financial performance: Firm-mediators in a multi-country context

Ranjan Das Gupta and Soumya G. Deb

Finance Research Letters, 2023, vol. 52, issue C

Abstract: The current study explores the interlinkage between corporate social, environmental performance (CSP) and financial performance of a firm, mediated by its global exposure and corporate governance. We conduct a dynamic fixed effect 2SLS-IV analysis on a comprehensive multi-country data-set and find that financial performance is not significantly impacted by CSP but there is a positive influence when it is mediated by lower internationalization. We also find that a more independent board lowers such value-destroying managerial activities, while the presence of women directors on board, dampens that positive influence of low internationalisation in strengthening financial performance through higher CSP.

Keywords: Social and environmental performance; Financial performance; Corporate governance (search for similar items in EconPapers)
JEL-codes: C36 G3 Q56 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:52:y:2023:i:c:s1544612322005633

DOI: 10.1016/j.frl.2022.103386

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