{"title":"Moderating role of ESG disclosures and its impact on firm financial performance","authors":"","doi":"10.1016/j.qref.2024.101892","DOIUrl":null,"url":null,"abstract":"<div><p>This study examines the relationship between environmental, social, and corporate disclosures and its affects on financial position of the firm. The study is based on India’s listed companies which disclosed the ESG variable over the last decade. We examine the five measures of financial performance and firm ESG disclosures. In addition to financial performance measures as response variables, this study uses of Piotroski F scores as a proxy for financial position is unique and novel approach in sustainable finance research. The results show the social disclosures have positive significant affect on firm financial position. Firm value, valuation of the stock and cost of capital. The study will help regulators to strengthen the ESG disclosures and for investors it gives insight about the relationship between ESG disclosure and financial performance of a firms.</p></div>","PeriodicalId":47962,"journal":{"name":"Quarterly Review of Economics and Finance","volume":null,"pages":null},"PeriodicalIF":2.9000,"publicationDate":"2024-07-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Quarterly Review of Economics and Finance","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S106297692400098X","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
This study examines the relationship between environmental, social, and corporate disclosures and its affects on financial position of the firm. The study is based on India’s listed companies which disclosed the ESG variable over the last decade. We examine the five measures of financial performance and firm ESG disclosures. In addition to financial performance measures as response variables, this study uses of Piotroski F scores as a proxy for financial position is unique and novel approach in sustainable finance research. The results show the social disclosures have positive significant affect on firm financial position. Firm value, valuation of the stock and cost of capital. The study will help regulators to strengthen the ESG disclosures and for investors it gives insight about the relationship between ESG disclosure and financial performance of a firms.
期刊介绍：
The Quarterly Review of Economics and Finance (QREF) attracts and publishes high quality manuscripts that cover topics in the areas of economics, financial economics and finance. The subject matter may be theoretical, empirical or policy related. Emphasis is placed on quality, originality, clear arguments, persuasive evidence, intelligent analysis and clear writing. At least one Special Issue is published per year. These issues have guest editors, are devoted to a single theme and the papers have well known authors. In addition we pride ourselves in being able to provide three to four article "Focus" sections in most of our issues.
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