Unveiling how efficiently sustainability transforms into intangible assets of financial institutions

IF 6.3 2区经济学 Q1 BUSINESS, FINANCE

Research in International Business and Finance Pub Date : 2025-02-21 DOI:10.1016/j.ribaf.2025.102835

Indrė Lapinskaitė , Viktorija Stasytytė , Viktorija Skvarciany

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Abstract

This research delves into the relationship between environmental, social, and governance (ESG) factors and the financial value of intangible assets within financial institutions, building upon prior research that focuses on sustainable development aspects and their impact on P/E ratios. While the earlier study revealed that there is no effective transformation of E, S, and G scores into P/E ratio, this research shifts the focus to the intangible value of financial institutions. The rationale is rooted in recognising that sustainable practices contribute not only to tangible assets and profitability but also to the increasingly crucial intangible value for long-term stakeholder appreciation. The study aims to assess the efficiency of translating sustainable development outcomes, measured through ESG scores, into the valuation of intangible assets using Data Envelopment Analysis (DEA). The paper emphasises the strategic importance of intangibles and the need to understand how ESG practices influence their financial value. After applying three different evaluation models, the results found effective transformation of the selected variables in 7 of 53 financial institutions.

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来源期刊

Research in International Business and Finance BUSINESS, FINANCE-

CiteScore

11.20

自引率

9.20%

发文量

240

期刊介绍： Research in International Business and Finance (RIBAF) seeks to consolidate its position as a premier scholarly vehicle of academic finance. The Journal publishes high quality, insightful, well-written papers that explore current and new issues in international finance. Papers that foster dialogue, innovation, and intellectual risk-taking in financial studies; as well as shed light on the interaction between finance and broader societal concerns are particularly appreciated. The Journal welcomes submissions that seek to expand the boundaries of academic finance and otherwise challenge the discipline. Papers studying finance using a variety of methodologies; as well as interdisciplinary studies will be considered for publication. Papers that examine topical issues using extensive international data sets are welcome. Single-country studies can also be considered for publication provided that they develop novel methodological and theoretical approaches or fall within the Journal''s priority themes. It is especially important that single-country studies communicate to the reader why the particular chosen country is especially relevant to the issue being investigated. [...] The scope of topics that are most interesting to RIBAF readers include the following: -Financial markets and institutions -Financial practices and sustainability -The impact of national culture on finance -The impact of formal and informal institutions on finance -Privatizations, public financing, and nonprofit issues in finance -Interdisciplinary financial studies -Finance and international development -International financial crises and regulation -Financialization studies -International financial integration and architecture -Behavioral aspects in finance -Consumer finance -Methodologies and conceptualization issues related to finance