ESG performance and CSR awards: Does consistency matter?

Ali Uyar, Cemil Kuzey and Abdullah S. Karaman

Finance Research Letters, 2022, vol. 50, issue C

Abstract: In this study, drawing on social reputation theory, we focus on the non-financial benefit (social reputation) of ESG engagement via CSR awarding and consider ESG inconsistency. The country-industry-year fixed-effects logistic regression analysis was executed based on the data including 45,395 observations between 2012 and 2019. We find that social reputation via CSR awarding requires a full ESG commitment in environmental, social, and governance pillars. However, governance pillar is less relevant for social reputation than the environmental and social pillars. Besides, ESG inconsistency over time and across ESG dimensions harms social reputation as it negatively moderates ESG performance and CSR awarding.

Keywords: CSR; ESG; ESG consistency; CSR award; Social reputation theory (search for similar items in EconPapers)
JEL-codes: G30 M14 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:50:y:2022:i:c:s1544612322004640

DOI: 10.1016/j.frl.2022.103276

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