 The nexus between policy uncertainty, sustainability disclosure and firm performanceTanveer Ahsan and
Muhammad Azeem Qureshi
Post-Print from HAL Abstract: Policy uncertainty (PU), and sustainability disclosure, influence the performance of the firms. We use European data to extend the nascent literature on sustainability disclosure, and economic policy uncertainty by investigating the moderating impact of sustainability disclosure on the relationship between economic policy uncertainty and firm performance. We find overwhelming evidence that policy uncertainty reduces firm performance; however, sustainability disclosure moderates this destructing impact of policy uncertainty on firm performance. Our results show that environmental and social disclosure by the European firms enhances their reputation and help these firms in reducing the policy-induced uncertainty. A higher governance disclosure representing efficient corporate governance also help European firms to moderate the negative effect of policy uncertainty on their performance. Our results are robust to alternate proxies of firm performance as well as endogeneity issues. Keywords: Economic policy uncertainty; sustainability disclosure; firm performance; Europe; panel data (search for similar items in EconPapers) Published in Applied Economics, 2021, 53 (4), pp.441-453. ⟨10.1080/00036846.2020.1808178⟩ There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03163927 DOI: 10.1080/00036846.2020.1808178 Access Statistics for this paper More papers in Post-Print from HAL |
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