期刊
BUSINESS STRATEGY AND THE ENVIRONMENT
卷 28, 期 2, 页码 286-300出版社
WILEY
DOI: 10.1002/bse.2224
关键词
corporate efficiency; corporate social responsibility; data envelopment analysis; ESG activities; ESG disclosure; stakeholder engagement; sustainable development
资金
- Japan Society for the Promotion of Science (JSPS) KAKENHI [JP26000001]
- 4th Environmental Economics Research Fund of the Ministry of Environment, Japan
This study investigated the relationship between corporate efficiency and corporate sustainability to determine whether firms concerned about environmental, social, and governance (ESG) issues can also be efficient and profitable. We applied data envelopment analysis to estimate corporate efficiency and investigated the nonlinear relationship between corporate efficiency and ESG disclosure. Evidence shows that corporate transparency regarding ESG information has a positive association with corporate efficiency at the moderate disclosure level, rather than at the high or low disclosure level. Governance information disclosure has the strongest positive linkage with corporate efficiency, followed by social and environmental information disclosure. Moreover, we explored the relationship between particular ESG activities and corporate financial performance (CFP), including corporate efficiency, return on assets, and market value. We found that most of the ESG activities reveal a nonnegative relationship with CFP. These findings may provide evidence about voluntary corporate social responsibility strategy choices for enhancing corporate sustainability.
作者
我是这篇论文的作者
点击您的名字以认领此论文并将其添加到您的个人资料中。
推荐
暂无数据