Firms’ Sustainability Performance and Market Longevity
Irene Fafaliou (),
Dimitrios Konstantios and
MPRA Paper from University Library of Munich, Germany
This study examines the impact of sustainability (ESG) on US listed firms’ exit decision. Using a recent dataset of a large number of US firms over the period 2007- 2016, we perform a dynamic empirical analysis of the relation between ESG and firms’ exiting mechanism by measuring environmental, social and governance issues. We provide evidence that corporate sustainability is a tool that can reduce risks and enable companies to boost surviving mechanisms and face less probability of failure. Finally, we perform several statistical tests for robustness purposes
Keywords: Sustainability; Longevity, Corporate Sustainability Performance (search for similar items in EconPapers)
JEL-codes: G1 G3 L2 M14 O1 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-bec, nep-env and nep-sbm
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:101445
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