ESG Dimensions and Corporate Value: Insights for Sustainable Investments

Liliane Cristina Segura (), Abu Naser, Rute Abreu and Jose Angel Perez-Lopez
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Liliane Cristina Segura: Accounting Department, Núcleo de Pesquisa em Controladoria e Finanças—Necofin, Centro de Ciências Sociais e Aplicadas (CCSA), Universidade Presbiteriana Mackenzie, Rua da Consolação, 896, São Paulo 01302-907, Brazil
Abu Naser: Accounting, Baking and Finance Department, Guildhall School of Business & Law, London Metropolitan University, Holloway Road, London N7 8DB, UK
Rute Abreu: Escola Superior de Tecnologia e Gestão, Instituto Politécnico da Guarda, Av. Dr. Francisco Sá Carneiro 50, 6300-559 Guarda, Portugal
Jose Angel Perez-Lopez: Accounting and Finance Department, Universidad de Sevilla, Ramón Cajal, No. 1, 41018 Sevilla, Spain

Sustainability, 2024, vol. 16, issue 17, 1-22

Abstract: This study adopts an integrated approach to analyze the environmental, social, and governance (ESG) dimensions and their relationship with corporate value in terms of two separate hypotheses: financial performance and market value. While previous studies in the literature have researched ESG from an overall aspect, this study stands out by simultaneously considering all three dimensions individually, providing a holistic and detailed view of their combined impact on corporate value to obtain insights for sustainable investments. Another contribution to the literature is the best practices associated with dialogue with stakeholders, as this study significantly contributes to the ongoing debate regarding sustainable investments. It is very important to demonstrate the relationship between ESG dimensions and corporate value based on empirical evidence. Thus, this study fills a gap in the literature and offers a basis for future research on sustainable investments from a multidimensional perspective of ESG. A relevant contribution is a dataset that includes detailed information about ESG dimensions for 100 publicly listed companies on the B3 stock market in Brazil. This comprehensive research allows for a robust generalization of the results and proposes insights that can be applied in a variety of contexts, increasing the relevance and practical applicability of this paper.

Keywords: ESG dimensions; corporate value; sustainable investments (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
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