CORPORATE GOVERNANCE AND FIRM LEVEL CHARACTERISTICS OF SUSTAINABILITY: EVIDENCE FROM NON-FINANCIAL FIRMS OPERATING IN THE USA

Shahid Shah

Bulletin of Business and Economics (BBE), 2020, vol. 9, issue 2, 92-100

Abstract: This study puts light and analyzes the corporate governance and firm level characteristics of sustainability (In case of non-financial firms operating in USA). The explanatory variables used in this study are Corporate Governance score, return on asset, liquidity, long term debt, market value, CEO duality and independent board structure and dependent variables are included in this study are sustainability (Economic, Environmental and social Score). Time period of this study contain eighteen-year data from 2000 to 2017. Panel data is used for the analysis of the study. For the data analysis we employed various statistical measures that are descriptive statistics, correlation matrix, ordinary least square, fixed effect model and GMM model are used to find out the impact of these variables. The result of this study reveals that USA firm corporate governance (CGS), return on assets (ROA), long term debt and CEO duality (CCS) has positive and significant impact on sustainability while market value, liquidity and independent board size has negative but significant impact on sustainability.

Keywords: Corporate Governance score; return on asset; liquidity; long term debt; market value (search for similar items in EconPapers)
JEL-codes: H0 O1 (search for similar items in EconPapers)
Date: 2020
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