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Driving Financial Performance: Exploring the Impact of ESG Policies in Telecommunication Companies Within the CIS Region

In: Sustainable Development in Banking and Finance

Author

Listed:
  • Kerim Melayev

    (KIMEP University)

  • Lyazzat Yespergenova

    (Almaty Management University)

  • Aliya Dosmanbetova

    (Almaty Management University)

  • Zhulduz Kupenova

    (Al Farabi Kazakh National University)

  • Alimshan Faizulayev

    (KIMEP University)

Abstract

The purpose of this chapter is to determine whether the macroeconomic and firm-specific factors of a country had effects on telecom companies’ profitability in the Commonwealth of Independent States (CIS) during 2010–2021. Methodology: For our empirical analysis, 18 firms were selected for data observations. After correlation, regression, multicollinearity, and Hausman tests, we decided to apply the feasible generalized least squares (FGLS) method. Originality: This study is a response to the huge growth in fintech technologies in the CIS region and their implementation in the telecom industry. As of this writing, only a few studies have been conducted on this topic for CIS-region countries. Furthermore, the research in this chapter was conducted to determine and understand the variables that have impacted profitability. Findings: This study shows that a negative impact on profitability comes from leverage, while a positive effect has been achieved via liquidity, and both are significant to the profitability of a firm. GDP has a significant negative effect; on the other hand, size has a positive but not significant effect on profitability. Overall, companies should maintain their leverage and liquidity and not forget about macroeconomic factors when budgeting and planning their financial performance.

Suggested Citation

  • Kerim Melayev & Lyazzat Yespergenova & Aliya Dosmanbetova & Zhulduz Kupenova & Alimshan Faizulayev, 2024. "Driving Financial Performance: Exploring the Impact of ESG Policies in Telecommunication Companies Within the CIS Region," Springer Proceedings in Business and Economics, in: Nesrin Ozatac & Nigar Taspinar & Bezhan Rustamov (ed.), Sustainable Development in Banking and Finance, pages 77-91, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-65533-3_6
    DOI: 10.1007/978-3-031-65533-3_6
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