The
purpose
of
this
article
is
to
examine
how
financial
leverage
affects
performance
and
the
moderating
role
efficiency
in
relationship.
This
study
uses
data
from
76
firms
listed
on
bombay
stock
exchange
during
period
2011
2020,
resulting
760
firm-year
observations.
A
quantile
regression
panel
model
used
investigate
hypotheses
study.
results
reveal
that
has
a
negative
significant
effect
performance.
Furthermore,
findings
indicate
firm's
improves
with
an
increase
leverage.
Moderate
evidence
exacerbates
association
between
have
important
implications
for
emerging
markets.
Managers
can
enhance
firm
by
reducing
level
leverage,
especially
low
technical
efficiency.
These
incur
higher
overheads,
then
they
benefit
more
decreases
debt
ratio
their
capital
structure.
To
author's
knowledge,
research
first
leverage–financial
relationship
one
few
determining
linkage
Business Strategy and the Environment,
Год журнала:
2025,
Номер
unknown
Опубликована: Янв. 8, 2025
ABSTRACT
This
study
presents
a
novel
examination
of
the
influence
environmental,
social,
and
governance
(ESG)
scores
on
resilience
financially
distressed
Indian
companies,
integrating
wavelet‐enhanced
quantile
regression
approach.
The
analysis,
rooted
in
context
Paris
Agreement
sustainable
finance,
employs
comprehensive
dataset
top
512
listed
companies
from
2012
to
2023.
Our
findings
reveal
that
high
ESG
significantly
bolster
company
during
financial
distress,
highlighting
dual
benefits
practices
corporate
stability
environmental
impact.
Additionally,
paper
underscores
pivotal
role
wavelet
analysis
capturing
multifaceted
effects
across
various
industries
distress
quantiles,
thereby
offering
more
nuanced
understanding
impacts.
These
insights
not
only
contribute
academic
discourse
finance
but
also
offer
practical
implications
for
policymakers
strategists
aiming
align
performance
with
development
goals
(SDGs).
at
which
no
longer
negatively
affects
firm's
value
are
provided.
range
between
33.153
33.456
driven
by
median
conditional
distribution
value.
Policy
discussed.
Asian Journal of Accounting Research,
Год журнала:
2025,
Номер
unknown
Опубликована: Фев. 10, 2025
Purpose
This
research
analyzes
the
impact
of
“Environmental,
Social,
and
Governance”
(ESG)
practices
on
Indian
banks’
performances
with
respect
to
market
operational
performance.
Design/methodology/approach
examines
28
banks
(12
public
sector
16
private
sector)
from
2021
2023,
using
multiple
regression
models
a
robust
generalized
least
square
(GLS)
estimation.
The
include
Tobin’s
Q
(TQ)
Return
Assets
(ROA)
as
dependent
variables,
while
current
lagged
ESG
performance
scores
(sourced
Refinitive
database)
constitute
main
independent
variables.
Additionally,
five
control
variables
specific
COVID-19
pandemic
are
also
incorporated
into
analysis.
Findings
study
reveals
that
have
time
sensitive
impact,
meaning
year
activities
substantial
influence
in
driving
financial
than
past
activities.
benefits
derive
tend
diminish
over
time.
findings
reinforce
necessity
for
maintain
dynamic
evolving
framework
remain
competitive.
it
is
found
show
greater
initiative
implementing
banks.
Practical
implications
offers
noteworthy
inputs
academicians,
banks,
regulators
other
stakeholders.
this
broadens
understanding
sustainable
banking
domain
across
different
horizons,
offering
an
initial
assessment
how
transparency
affects
bank
during
post-mandatory
disclosure
phase.
Originality/value
investigates
time-sensitive
impacts
ESG-centric
(considering
effect)
performance,
undertaken
after
implementation
Reserve
Bank
India’s
(RBI)
2020
circular
relating
mandatory
commercial
Cogent Economics & Finance,
Год журнала:
2023,
Номер
11(2)
Опубликована: Окт. 9, 2023
This
study
investigates
how
environmental,
social,
and
governance
(ESG)
disclosures
influence
the
performance
of
listed
Saudi
Arabian
companies.
The
used
unbalanced
panel
data
obtained
from
Bloomberg
database
(2010–2020).
results
show
that
ESG
has
significantly
reduced
TOBINSQ
but
an
insignificant
association
with
return
on
equity
(ROE).
Concerning
components,
environmental
disclosure
negative
is
positively
related
to
ROE.
Social
a
insignificantly
negatively
associated
Meanwhile,
improved
ROE,
respectively.
Besides,
findings
offer
helpful
implications
for
regulatory
bodies
policymakers
toward
providing
practical
guidelines
policies
ensure
implementation
activities
maximizes
shareholders'
wealth.
Administrative Sciences,
Год журнала:
2024,
Номер
14(7), С. 156 - 156
Опубликована: Июль 19, 2024
This
study
examines
the
current
trajectory
and
future
research
directions
of
environmental,
social,
governance
(ESG)
integration
within
banking
industry.
Utilizing
bibliometric
scientometric
approaches,
it
highlights
trend
topics,
influential
studies,
notable
contributors.
Drawing
from
an
analysis
681
studies
Scopus
Web
Science
databases,
a
comprehensive
dataset
was
curated
using
networks
with
VOSviewer
Bibliometrix
tools.
emphasizes
evolving
nature
ESG
banking,
emphasizing
interdisciplinary
shift
encompassing
considerations.
Keyword
reveals
emerging
trends,
including
influence
factors
on
banks’
financial
performance,
regional
variations
in
risk
assessment
related
to
credit
banks.
By
offering
insights
into
topic
identifying
promising
avenues
for
further
exploration,
such
as
fundamental
connection
between
sustainability,
particularly
climate
change
green
finance,
this
contributes
ongoing
discussions
surrounding
industry,
guiding
efforts
vital
sector.
International Journal of Pertapsi,
Год журнала:
2024,
Номер
2(2), С. 69 - 78
Опубликована: Авг. 1, 2024
The
objective
of
this
study
was
to
examine
the
correlation
between
Environmental,
Social,
and
Governance
(ESG),
corporate
value
performance,
with
aim
establishing
a
basis
for
assessing
ESG.
An
independent
variable
is
ESG
score.
variables
that
will
be
measured
are
firm
performance.
Firm
performance
assessed
using
return
on
assets
(ROA),
while
indicated
by
Tobin's
Q.
Industrial
growth,
which
quantifies
development
industrial
aspects,
serve
as
moderator
harmonise
connection
dependent
variables.
Analysis
data
indicates
factors
have
detrimental
effect
company
value.
improves
enterprises.
Moreover,
growth
industry
does
not
alleviate
environmental,
social,
governance
(ESG)
business.
success
mitigated
industry.
Business Strategy & Development,
Год журнала:
2024,
Номер
7(4)
Опубликована: Окт. 16, 2024
Abstract
This
study
is
designed
to
conduct
a
systematic
literature
review
aimed
at
assessing
the
influence
of
environmental,
social,
and
governance
(ESG)
performance
on
firm
value.
Although
previous
studies
have
explored
their
relationship,
comprehensive
this
topic
still
lacking.
We
conducted
detailed
search
in
Scopus
Web
Science
databases
identified
73
papers
published
between
2016
2023
as
sample,
covering
annual
trends,
country
industry
distribution,
theoretical
frameworks,
proxy
variables,
research
methods,
results,
provided
direction
for
future
research.
found
significant
increase
number
over
past
3
years.
Cross‐country
dominated
field,
with
most
adopting
multi‐industry
analysis,
while
focusing
single
were
relatively
rare.
The
stakeholder
theory
agency
widely
applied
theories.
Most
showed
that
ESG
had
positive
effect
value,
reflecting
growing
importance
markets
investors
placed
its
contribution
long‐term
growth.
However,
some
reported
negative
or
insignificant
effects,
noting
effects
varied
by
industry,
region,
market
environment.
suggests
should
explore
independent
interactive
each
dimension
dynamic
relationships
across
industries
regions,
using
new
methods
models,
incorporating
moderating
variables.
provides
practical
guidance
managers
policymakers
optimize
practices,
enhancing
value
promoting
sustainability.
Asian Review of Accounting,
Год журнала:
2023,
Номер
32(2), С. 302 - 326
Опубликована: Окт. 19, 2023
Purpose
Environmental,
social
and
governance
(ESG)
issues
have
become
the
cornerstone
of
investment
decisions
in
firms
today.
With
that,
publicly
traded
ESG
indices
(like
BSE
100
index
India)
come
into
existence.
The
existing
literature
signifies
that
generates
financial
implications
induces
stability.
current
study
aims
to
test
whether
listed
on
(ESG-sensitive
firms)
face
less
distress
than
those
not
such
an
index.
Design/methodology/approach
applies
panel
data
difference-in-differences
(DID)
regression
by
considering
as
unstaggered
treatment
74
non-financial
India's
Bombay
Stock
Exchanges
(BSE)
In
total,
42
are
treated
they
got
index,
formed
2017.
remaining
32
form
control
group.
confidence
intervals
standard
errors
estimated
using
clustered
robust
Donald
Lang
method.
Findings
Listing
matters
for
stability;
differences
significant
distress.
ESG-sensitive
non-ESG
(or
perceived
ESG-sensitive).
results
consistent
across
two
measures,
Altman
z-scores
emerged
emerging
markets.
Thus,
DID
status
between
matter.
Practical
creates
vibrant
practitioners
reduce
Originality/value
is
one
its
kind
effects
firm
value
quantify
International Journal of Energy Sector Management,
Год журнала:
2023,
Номер
18(5), С. 956 - 979
Опубликована: Авг. 23, 2023
Purpose
The
global
energy
sector
draws
significant
stakeholder
attention
due
to
never-ending
controversies
surrounding
its
environmental
impacts.
Investors’
response
such
causes
direct
financial
implications
for
these
firms.
Furthermore,
environmental,
social
and
governance
(ESG)
sensitivity,
which
is
likely
safeguard
the
firms
from
controversies,
itself
conditional
development
stage
of
a
country
regulatory
environment.
Therefore,
this
study
aims
investigate
if
influence
ESG
on
share
price
volatility
(SPV)
subject
countries.
Design/methodology/approach
investigates
nine
years
panel
data
93
developing
developed
nations.
Using
dynamic
two-way
fixed
effects
estimation
computing
robust
standard
errors
obtain
econometric
results.
Findings
main
finding
reveals
that
impact
SPV
is,
indeed,
Similar
results
are
observed
dimension
SPV.
While
impacts
negatively
in
economies,
opposite
In
other
words,
strong
propositions
induce
stability
countries
while
destabilizing
Practical
policymakers
should
further
streamline
regulations
policies
related
adoption
adherence.
practice,
sectors
their
operations.
Firm
managers,
especially
sector,
devise
strategies
with
as
an
essential
component
against
market
adversatives.
nations
strengthen
foster
equity
harmony.
Originality/value
contributes
through
niche
investigations
very
important
world
economy.
relevant
current
scenario
when
faces
severe
crisis
supply
chain
issues.
Journal of Global Responsibility,
Год журнала:
2023,
Номер
15(3), С. 305 - 319
Опубликована: Ноя. 20, 2023
Purpose
This
study
aims
to
examine
the
effect
of
environmental,
social
and
corporate
governance
(ESG)
scores
on
stock
markets
for
period
from
February
2018
December
2022
G7
countries.
Even
though
ESG
is
an
established
area
investigation,
prior
research
has
paid
inadequate
attention
nexus
in
(Germany,
USA,
UK,
Italy,
France,
Japan
Canada)
Design/methodology/approach
covers
countries
uses
a
data
set,
which
includes
market
returns
reporting
channels
including
financial
websites,
international
indexes,
between
2022.
Cross-section
dependency
homogeneity
tests
were
used
with
Konya
(2006)
panel
causality
test
investigate
relations
markets,
also
conducted
separate
analysis
each
sub-dimension.
Homogeneity/heterogeneity
carried
out
research.
Findings
The
findings
suggest
that
(DAX)
was
determined
only
Germany.
Accordingly,
it
understood
German
companies
have
started
implement
responsibility
practices
their
management
strategies
reporting.
These
offer
important
implications
those
who
are
considering
investing
countries,
whether
or
not
consider
scores.
Originality/value
In
this
context,
contributes
existing
literature
relationships
seen
as
vital
tool
meet
expectations
stakeholders.
Procedia Computer Science,
Год журнала:
2023,
Номер
225, С. 4245 - 4253
Опубликована: Янв. 1, 2023
As
an
indicator
of
the
sustainability
company's
development,
its
value
is
proposed,
reflecting
dynamics
financial
health
company
and
ability
management
to
create
for
shareholders
other
stakeholders.
An
increase
in
enterprise
can
serve
as
improving
production
efficiency,
introducing
new
technologies
processes,
increasing
customer
base
diversifying
business.
The
applicability
business
integral
sustainable
development
substantiated.
hypothesis
considered
that
framework
assessment,
influence
ESG
factors
should
be
taken
into
account
by
adjusting
cash
flows
discount
rate
risks
obtaining
(forming)
these
flows,
while
risk
accounting
areas
correctly
divided
order
avoid
double
accounting.
expediency
calculating
validity
a
block
shares
or
share
sale
(Discount
lack
marketability
(illiquidity),
DLOM)
when
evaluating
business,
instead
on
liquidity,
has
been
proved,
which,
making
final
adjustments,
calculated
using
multiplicative
formula
together
with
non-controlling
nature
shares;
are
proposed
"Mandelbaum
factors".
conducted
research
applied
practical
tasks
context
vector
enterprises
economy.
