From corporate social responsability to environmental, social, governance investing: non-financial reporting - benefits and legislative implications

Komalpreet Kaur, Daniela Corina Oprea (Bîrlă), Raluca Simina Bilți and Vanina Adoriana Trifan
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Komalpreet Kaur: “Aurel Vlaicu” University of Arad, Arad, Romania
Daniela Corina Oprea (Bîrlă): West University of Timișoara, Timișoara, Romania
Raluca Simina Bilți: “Aurel Vlaicu” University of Arad, Arad, Romania
Vanina Adoriana Trifan: “Aurel Vlaicu” University of Arad, Arad, Romania

Journal of Financial Studies, 2023, vol. 14-Special-June, issue 8, 117-128

Abstract: The main objective of the paper is to highlight the importance of ESG (Environment, Social, Governance) investing for companies, while also elaborating its relation to better financial performance. Furthermore, the article conducts a literature review by analysing the already existing scientific papers (mainly from Google Scholar, Web of Science and ScienceDirect) to demonstrate how the relative importance of each of the ESG dimensions: Environmental, Social and Governance, may vary depending on different factors. The article highlights the value of non-financial reporting, its advantages, and the resulting legal ramifications. Investors and executors have recognized the importance of the ESG framework in recent years, which has helped it earn a lot of respect. The framework is said to serve several benefits, such as offering business sustainability, financial stability, and better financial performance, to a given economic entity. Similarly, the paper presents practical implications for the businesses, as it leads to their better understanding of the concept, from an investor’s perspective.

Keywords: ESG; environmental; social; governance; non-financial reporting, CSR, business sustainability. (search for similar items in EconPapers)
JEL-codes: G30 G41 M14 Q50 Q56 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:fst:rfsisf:v:14-special-june:y:2023:i:8:p:117-128

DOI: 10.55654/JFS.2023.SP.08

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