A carregar...
Publicação
Corporate Social Responsibility: Impact on Firms’ Financial Performance
| Nome: | Descrição: | Tamanho: | Formato: | |
|---|---|---|---|---|
| 1.93 MB | Adobe PDF |
Autores
Orientador(es)
Resumo(s)
The aim of this study is to provide a comprehensive and structured analysis of the relationship
between firm’s financial performance and Corporate Social Responsibility (CSR) on a global
scale. Evidence from previous studies suggests no consensus in the relationship between CSR
and firms’ performance. This study is conducted with a sample of 744 companies from 31
countries and 147 different industries, between 2005 and 2019. The CSR performance analysis
is conducted through firms’ Environment, Social and Governance (ESG) scores whilst the
financial performance is evaluated by Return on Assets (ROA) and Return on Equity (ROE). All
data is extracted from Thomson Reuters Eikon. The results suggest there is a positive
relationship between CSR and the financial performance of the companies. The findings also
suggest that companies that have a low value of Total Revenues do not benefit from an
investment on ESG Factors, as the results show a negative relationship between ESG Score
and Return on Assets. Lastly, this study allows to conclude that when considering the three
pillar scores individually, the Social Pillar is the only one that leads to a better performance of
the companies. The outcomes of this study are important not only for the investment
decision-making of both values-driven and profit-driven investors but also to increase
awareness of how sustainable financial markets can contribute positively to reduce global
risks.
Descrição
Dissertation presented as the partial requirement for obtaining a Master's degree in Statistics and Information Management, specialization in Risk Analysis and Management
Palavras-chave
Corporate Social Responsibility Environmental Social Governance (ESG) Financial Performance