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Does it pay to deliver superior ESG performance? The case of companies listed on the Casablanca stock exchange value
[Est-il rentable de réaliser des performances ESG supérieures ? Cas des sociétés cotées à la bourse des valeurs de Casablanca]

Author

Listed:
  • Abdelati El Arfaoui

    (Ecole Supérieur de Technologie, Université Moulay Ismail Meknès.)

  • Nouredine Marchoud

    (Ecole Supérieur de Technologie, Université Moulay Ismail Meknès)

Abstract

Environmental, social, and governance (ESG) activities have become essential and viable for companies due to the growing concern for environmental, social, and governance issues. The aim of this research is to examine the relationship between a company's achievement of superior ESG performance and its financial performance (FP). A sample of 30 Moroccan companies listed on the Casablanca Stock Exchange from 2020 to 2022 was considered. The study utilises the least squares method to evaluate the correlation between ESG and FP. The study concludes that there is a significant negative correlation between GSE and FP. This study enhances comprehension of the correlation between ESG and PF, aiding companies in formulating corporate strategies and stakeholders in making investment decisions. This study is unique in that it examines the effect of ESG on the financial performance of Moroccan companies listed on the stock exchange. It will serve as a foundation for future research.

Suggested Citation

  • Abdelati El Arfaoui & Nouredine Marchoud, 2024. "Does it pay to deliver superior ESG performance? The case of companies listed on the Casablanca stock exchange value [Est-il rentable de réaliser des performances ESG supérieures ? Cas des sociétés," Post-Print hal-04629453, HAL.
    • Handle: RePEc:hal:journl:hal-04629453
    DOI: 10.5281/zenodo.12529217
    Note: View the original document on HAL open archive server: https://hal.science/hal-04629453
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    Keywords

    CSR; ESG; Financial performance; stakeholders; RSE; Performance financière; Parties prenantes;
    All these keywords.

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