Does sustainable performance pay off in pharmaceutical industry? Evidence from US firms
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Keywords
ESG ; Tobin’s Q ; RRI ; Firms performanceAbstract
This research focuses on the impact of environmental, social, and governance (ESG) on firms’ performance. We perform an analysis of ESG market profile controlling for market dynamics and firms’ specific characteristics. Our empirical study is based on market prices and annual financial data for 2189 US listed companies from 2007 to 2019. We examine the relationship between sustainability and firms’ performance by testing the impact of firms’ ESG on firms’ Tobins’Q. We find that firms with ESG issues have significant lower performance compared to those without. Our results indicate that ESG is an important determinant for firms, in order to increase their performance.
Postgraduate Studies Programme
ΒιοοικονομίαDepartment
Σχολή Οικονομικών, Επιχειρηματικών και Διεθνών Σπουδών. Τμήμα Οικονομικής ΕπιστήμηςCorporate Department
Εθνικό και Καποδιστριακό Πανεπιστήμιο Αθηνών. Τμήμα ΒιολογίαςNumber of pages
32Language
EnglishCollections
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Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα
Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα