Corporate environmental, social, and governance activities and financial reporting quality: An international investigation

IF 6.3 2区经济学 Q1 BUSINESS, FINANCE

Borsa Istanbul Review Pub Date : 2024-05-01 DOI:10.1016/j.bir.2024.03.001

Gökhan Özer , Nagihan Aktaş , İlhan Çam

引用次数: 0

Abstract

This paper examines the impact of firms' environmental, social, and governance (ESG) activities on financial reporting quality (FRQ). The study uses 45,877 firm-year observations from 65 countries between 2003 and 2021. In the research model, firm characteristics and macroeconomic and institutional structure characteristics of the countries are controlled for. This study finds that firms with higher ESG scores have higher FRQ. Additionally, our mediation analysis indicates that financial distress costs serve as a crucial mechanism through which ESG influences FRQ. Our findings are robust after accounting for alternative measures of FRQ, different sampling scenarios, endogeneity issues, and simultaneity bias.

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企业环境、社会和治理活动与财务报告质量：一项国际调查

本文研究了企业的环境、社会和治理（ESG）活动对财务报告质量（FRQ）的影响。研究使用了 2003 年至 2021 年间 65 个国家的 45,877 个公司年度观测数据。在研究模型中，企业特征和各国的宏观经济及制度结构特征均受到控制。本研究发现，ESG 分数越高的公司 FRQ 越高。此外，我们的中介分析表明，财务困境成本是 ESG 影响 FRQ 的重要机制。在考虑了其他 FRQ 测量方法、不同的抽样方案、内生性问题和同时性偏差后，我们的研究结果是稳健的。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Borsa Istanbul Review Multiple-

CiteScore

7.60

自引率

3.80%

发文量

130

审稿时长

26 days

期刊介绍： Peer Review under the responsibility of Borsa İstanbul Anonim Sirketi. Borsa İstanbul Review provides a scholarly platform for empirical financial studies including but not limited to financial markets and institutions, financial economics, investor behavior, financial centers and market structures, corporate finance, recent economic and financial trends. Micro and macro data applications and comparative studies are welcome. Country coverage includes advanced, emerging and developing economies. In particular, we would like to publish empirical papers with significant policy implications and encourage submissions in the following areas: Research Topics: • Investments and Portfolio Management • Behavioral Finance • Financial Markets and Institutions • Market Microstructure • Islamic Finance • Financial Risk Management • Valuation • Capital Markets Governance • Financial Regulations