Firms’ ESG reputational risk and market longevity: A firm-level analysis for the United States
Irene Fafaliou (),
Dimitrios Konstantios and
Journal of Business Research, 2022, vol. 149, issue C, 161-177
This study examines the impact of environmental, social, and governance (ESG) reputational risk on a sample of listed firms’ market longevity. Using a novel panel dataset consisting of US firms over the period 2007–2019, we perform dynamic empirical analysis to quantify the underlying relationships between firms’ ESG reputational risk and market longevity. We argue that ESG reputational risk has a negative impact on firm growth opportunities, mitigating thus market longevity. The empirical findings survive several robustness checks, providing useful managerial implications for stakeholders and market participants..
Keywords: Sustainability; ESG reputational risk; Longevity; Survival Analysis (search for similar items in EconPapers)
JEL-codes: G1 G3 L2 M14 O1 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:149:y:2022:i:c:p:161-177
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