The Influence of ESG Factors on Financial Performance in the Banking Sector during the Covid-19 Pandemic

IF 1.4 4区经济学 Q3 ECONOMICS

Economic Computation and Economic Cybernetics Studies and Research Pub Date : 2022-12-17 DOI:10.24818/18423264/56.4.22.05

Dragomir VOICU DAN, Batae OANA MARINA, Ionescu BOGDAN – STEFAN, Ionescu-Feleaga Liliana

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引用次数: 3

Abstract

Environmental performance, social responsibility, and corporate governance quality are aspects of ESG performance. This study examines the influence of ESG performance on the financial performance of 333 banks located in 53 countries in Europe, America, and Asia, before and during the Covid-19 pandemic (2019-2021). Our model design allows us to establish causality relationships. The main factors and financial data are collected from the Refinitiv database. The findings indicate that the bank environmental performance in 2019 has a negative influence on the return on equity during 2020, and that no other ESG factors are significant. Social responsibility expenditures and initiatives in 2020 positively influenced bank profitability in 2021. Furthermore, East Asian banks have higher stock market returns and earnings per share determined by the quality of corporate governance in the previous year. The environmental performance of 2020 has a negative influence on earnings per share in 2021, but only for the sample in East Asia. Implications for the banking sector and investors are proposed. © 2022, Bucharest University of Economic Studies. All rights reserved.

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2019冠状病毒病大流行期间ESG因素对银行业财务绩效的影响

环境绩效、社会责任和公司治理质量是ESG绩效的几个方面。本研究考察了新冠肺炎大流行之前和期间（2019-2021年），ESG绩效对欧洲、美国和亚洲53个国家333家银行财务绩效的影响。我们的模型设计使我们能够建立因果关系。主要因素和财务数据来自路孚特数据库。研究结果表明，2019年银行的环境绩效对2020年的股本回报率有负面影响，其他ESG因素都不显著。2020年的社会责任支出和举措对2021年的银行盈利能力产生了积极影响。此外，东亚银行的股票市场回报率和每股收益更高，这取决于上一年的公司治理质量。2020年的环境表现对2021年的每股收益有负面影响，但仅限于东亚样本。提出了对银行业和投资者的影响。©2022，布加勒斯特经济研究大学。保留所有权利。

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来源期刊

Economic Computation and Economic Cybernetics Studies and Research MATHEMATICS, INTERDISCIPLINARY APPLICATIONS-

CiteScore

1.80

自引率

22.20%

发文量

审稿时长

>12 weeks

期刊介绍： ECECSR is a refereed journal dedicated to publication of original articles in the fields of economic mathematical modeling, operations research, microeconomics, macroeconomics, mathematical programming, statistical analysis, game theory, artificial intelligence, and other topics from theoretical development to research on applied economic problems. Published by the Academy of Economic Studies in Bucharest, it is the leading journal in the field of economic modeling from Romania.