Corporate Sustainability, Capital Markets, and ESG Performance

Alexandre S. Garcia (), Wesley Mendes-Da-Silva and Renato J. Orsato ()
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Alexandre S. Garcia: Centro Universitario Fecap
Wesley Mendes-Da-Silva: Sao Paulo School of Business Administration (FGV/EAESP)
Renato J. Orsato: Fundação Getulio Vargas at São Paulo (FGV/EAESP)

Chapter Chapter 13 in Individual Behaviors and Technologies for Financial Innovations, 2019, pp 287-309 from Springer

Abstract: Abstract This chapter discusses associations between the financial profile of a firm and superior environmental, social, and governance (ESG) performance, considering firms from Brazil, Russia, India, China, and South Africa (the so-called BRICS countries). In particular, the study analyzes ESG performance in sensitive industries, i.e., those subject to systematic social taboos, moral debates, and political pressures and those that are more likely to cause social and environmental damage. We applied linear regressions with a data panel collected from 365 listed companies between 2010 and 2012. Our results suggest the market capitalization as the main predictor of ESG performance. In general, larger companies have higher levels of performance. We also found that companies in sensitive industries present superior environmental performance even when controlling for size and country. Our conclusions provide insights for future studies around ESG performance.

Keywords: Corporate social responsibility (CSR); Environmental; social; and governance (ESG) performance; Sustainability index; BRICS; F18; G34; M14 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-319-91911-9_13

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DOI: 10.1007/978-3-319-91911-9_13

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