ESG (Environmental, Social, Governance) αποδοτικότητα: επίδραση στην εταιρική χρηματοοικονομική απόδοση
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Keywords
ESG αποδοτικότητα ; CSR απόδοσηAbstract
This paper deals with how the performance of a company in the field of Corporate Social Responsibility affects its future corporate financial performance. The issue is studied through critical literature review and empirical analysis, with a sample of 1980 active US companies for the period 2002-2018 with data from the databases Thomson Reuters Asset 4 and World scope -Data stream. The methodology followed was based on the research of (Lys et al, 2015), and the equations ΔROA, ΔCFO, (P / CF) were used. The main conclusion we drew from our empirical analysis is in line with the prevailing trend of the literature so far, that is a positive relationship (small or even weak) between the corporate social performance and the financial performance of a company. This relationship is mainly reflected in the positive correlation of the overall ESG Score with the change in the future performance of the Return on Assets.