文章基本信息

标题：Environment, Social, and Governance Score and Value Added Impacts on Market Capitalization: A Sectoral-Based Approach
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作者：Radu-Alexandru Șerban ; Diana Marieta Mihaiu ; Mihai Țichindelean 等
期刊名称：Sustainability
印刷版ISSN：2071-1050
出版年度：2022
卷号：14
期号：4
页码：2069
DOI：10.3390/su14042069
语种：English
出版社：MDPI, Open Access Journal
摘要：The main goal of this study was to measure the impact of the environmental, social, and governance (ESG) sustainability score and value added to companies’ market capitalization. Therefore, financial and sustainable performance were measured in a sample of 5557 companies divided into 9 economic sectors of activity from 78 countries and 6 regions (Americas: 2144; Asia: 1770; Europe: 1232; Oceania: 311; Africa: 90; United Kingdom: 10). The analyzed sample consisted of publicly traded companies ranked by market capitalization (from small-cap to large-cap), for which the ESG score was measured in the analyzed period: the financial year was 2019, before the advent of the COVID-19 pandemic. Using two methods (multiple linear regression and complementary quantile regression), we found a direct link between the ESG score and value added variables and market capitalization, with distinct impacts at the economic sector level for ESG score and relatively constant impact for value added.