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Corporate Sustainability, Capital Markets, and ESG Performance

In: Individual Behaviors and Technologies for Financial Innovations

Author

Listed:
  • Alexandre S. Garcia

    (Centro Universitario Fecap)

  • Wesley Mendes-Da-Silva

    (Sao Paulo School of Business Administration (FGV/EAESP)
    University of Texas at Austin)

  • Renato J. Orsato

    (Fundação Getulio Vargas at São Paulo (FGV/EAESP))

Abstract

This chapter discusses associations between the financial profile of a firm and superior environmental, social, and governance (ESG) performance, considering firms from Brazil, Russia, India, China, and South Africa (the so-called BRICS countries). In particular, the study analyzes ESG performance in sensitive industries, i.e., those subject to systematic social taboos, moral debates, and political pressures and those that are more likely to cause social and environmental damage. We applied linear regressions with a data panel collected from 365 listed companies between 2010 and 2012. Our results suggest the market capitalization as the main predictor of ESG performance. In general, larger companies have higher levels of performance. We also found that companies in sensitive industries present superior environmental performance even when controlling for size and country. Our conclusions provide insights for future studies around ESG performance.

Suggested Citation

  • Alexandre S. Garcia & Wesley Mendes-Da-Silva & Renato J. Orsato, 2019. "Corporate Sustainability, Capital Markets, and ESG Performance," Springer Books, in: Wesley Mendes-Da-Silva (ed.), Individual Behaviors and Technologies for Financial Innovations, chapter 0, pages 287-309, Springer.
    • Handle: RePEc:spr:sprchp:978-3-319-91911-9_13
    DOI: 10.1007/978-3-319-91911-9_13
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    Cited by:

    1. Chen, Pengyu & Chu, Zhongzhu & Zhao, Miao, 2024. "The Road to corporate sustainability: The importance of artificial intelligence," Technology in Society, Elsevier, vol. 76(C).

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