Assessing the Impact of Policy Uncertainty, Geopolitical Risk, and Sustainable Disclosure on Corporate Performance

IF 2.5 Q2 ECONOMICS
Siddhartha Barman, Jitendra Mahakud
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引用次数: 0

Abstract

This study explores the impact of policy uncertainty, geopolitical risk, and sustainable disclosure (ESG) on corporate performance for the period 2014–21 across 23 countries. Using the System GMM technique, it uncovers a negative link between policy uncertainty, geopolitical risk, and corporate performance. Sustainable disclosure mitigates the influence of economic uncertainty and geopolitical risk on firm performance. The results are robust across the various other econometric methods (i.e. fixed effect, random effect and feasible generalized least squares) and alternative proxy used for sustainability disclosure. These findings have implications for policymakers and managers, highlighting the importance of aligning policies with sustainable disclosure practices. This study contributes to the literature by examining these factors on a cross-country scale, potentially among the first of its kind.

Abstract Image

评估政策不确定性、地缘政治风险和可持续信息披露对公司业绩的影响
本研究探讨了 2014-21 年间 23 个国家的政策不确定性、地缘政治风险和可持续信息披露(ESG)对企业绩效的影响。利用系统 GMM 技术,研究发现了政策不确定性、地缘政治风险和公司业绩之间的负向联系。可持续信息披露减轻了经济不确定性和地缘政治风险对公司业绩的影响。在使用其他各种计量经济学方法(即固定效应、随机效应和可行的广义最小二乘法)和可持续发展信息披露的替代变量时,结果都是稳健的。这些研究结果对政策制定者和管理者具有启示意义,强调了政策与可持续信息披露实践相一致的重要性。本研究通过在跨国范围内研究这些因素,为相关文献做出了贡献,可能是同类研究中的首例。
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来源期刊
CiteScore
3.00
自引率
0.00%
发文量
34
期刊介绍: The current remarkable growth in the Asia-Pacific financial markets is certain to continue. These markets are expected to play a further important role in the world capital markets for investment and risk management. In accordance with this development, Asia-Pacific Financial Markets (formerly Financial Engineering and the Japanese Markets), the official journal of the Japanese Association of Financial Econometrics and Engineering (JAFEE), is expected to provide an international forum for researchers and practitioners in academia, industry, and government, who engage in empirical and/or theoretical research into the financial markets. We invite submission of quality papers on all aspects of finance and financial engineering. Here we interpret the term ''financial engineering'' broadly enough to cover such topics as financial time series, portfolio analysis, global asset allocation, trading strategy for investment, optimization methods, macro monetary economic analysis and pricing models for various financial assets including derivatives We stress that purely theoretical papers, as well as empirical studies that use Asia-Pacific market data, are welcome. Officially cited as: Asia-Pac Financ Markets
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