Does it pay to deliver superior ESG performance? The case of companies listed on the Casablanca stock exchange value

Est-il rentable de réaliser des performances ESG supérieures ? Cas des sociétés cotées à la bourse des valeurs de Casablanca

Abdelati El Arfaoui () and Nouredine Marchoud
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Abdelati El Arfaoui: UMI - جامعة مولاي إسماعيل = Université Moulay Ismaïl
Nouredine Marchoud: UMI - جامعة مولاي إسماعيل = Université Moulay Ismaïl

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Abstract: Environmental, social, and governance (ESG) activities have become essential and viable for companies due to the growing concern for environmental, social, and governance issues. The aim of this research is to examine the relationship between a company's achievement of superior ESG performance and its financial performance (FP). A sample of 30 Moroccan companies listed on the Casablanca Stock Exchange from 2020 to 2022 was considered. The study utilises the least squares method to evaluate the correlation between ESG and FP. The study concludes that there is a significant negative correlation between GSE and FP. This study enhances comprehension of the correlation between ESG and PF, aiding companies in formulating corporate strategies and stakeholders in making investment decisions. This study is unique in that it examines the effect of ESG on the financial performance of Moroccan companies listed on the stock exchange. It will serve as a foundation for future research.

Keywords: CSR; ESG; Financial performance; stakeholders; RSE; Performance financière; Parties prenantes (search for similar items in EconPapers)
Date: 2024-06
New Economics Papers: this item is included in nep-ara and nep-env
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Published in African Scientific Journal, 2024, ⟨10.5281/zenodo.12529217⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04629453

DOI: 10.5281/zenodo.12529217

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