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Analysing the impact of ESG on the performance of Malaysian public-listed companies

Azira Abdul Adzis, Woei Chyuan Wong, Sabariah Nordin, Abd Halim Ahmad and Shamsul Bahrain Mohamed-Arshad

International Journal of Business and Emerging Markets, 2022, vol. 14, issue 4, 415-434

Abstract: This study examines the impact of environmental, social and governance (ESG) practices on the performance of 924 public-listed companies in Malaysia, using a two-stage Heckman sample selection model covering the period from 2005 to 2018. The findings indicate that ESG has a positive and significant impact on the market and financial performance, supporting the stakeholder theory, where firms that engage in social responsibility will have a better performance. The findings provide valuable insights on the importance of ESG practices in Malaysia, a country that is practically weak in dealing with the environmental issues in the Asia-Pacific region.

Keywords: ESG; performance; public-listed companies; Malaysia. (search for similar items in EconPapers)
Date: 2022
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Handle: RePEc:ids:ijbema:v:14:y:2022:i:4:p:415-434