New versus established companies: which companies have better ESG performance?
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Keywords
Firms age ; ESG ; Sustainable developmentAbstract
This study examines the impact of firm market establishment on company’s environmental, social, and governance (ESG) performance. We use a comparative analysis of ESG market profile between new and establish companies, controlling for market dynamics and firms’ specific characteristics. Our empirical analysis is based on annual financial data and market prices for 1940 US listed companies from 2007 to 2016. We focus on the relation between sustainability and firms’ age by testing the impact of firms’ age on firms ESG performance. Moreover, we test this hypothesis in crisis periods. We find that older firms have significant lower sustainable performance compare to the newer ones. Our results indicate that newer firms can adapt more efficient in the modern sustainable business requirements.
Postgraduate Studies Programme
ΒιοοικονομίαDepartment
Σχολή Οικονομικών, Επιχειρηματικών και Διεθνών Σπουδών. Τμήμα Οικονομικής ΕπιστήμηςCorporate Department
Εθνικό και Καποδιστριακό Πανεπιστήμιο Αθηνών.Τμήμα ΒιολογίαςNumber of pages
26Language
EnglishCollections
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Attribution-NonCommercial-NoDerivatives 4.0 Διεθνές
Attribution-NonCommercial-NoDerivatives 4.0 Διεθνές