环境、社会和治理(ESG)与特异波动性:COVID-19 大流行及其对 ESG 敏感行业的影响

IF 3.6 2区 哲学 Q2 BUSINESS
Jihun Kim, Jongho Kang, Suk Hyun
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引用次数: 0

摘要

本研究深入探讨了韩国公司的环境、社会和治理(ESG)绩效与特异波动性之间的关系。研究发现,与风险缓解观点一致的是,环境、社会和治理方面的出色表现与公司特异波动性的降低有关。在 COVID-19 大流行期间,环境、社会和公司治理绩效对降低公司波动性的影响尤为明显,凸显了环境、社会和公司治理绩效在危机时期降低风险的作用。研究还表明,在对环境、社会和公司治理因素高度敏感的行业中,环境、社会和公司治理表现优异的公司尤其善于降低特异性波动。这些发现强调了加强环境、社会和公司治理对公司管理者和政策制定者的重要性,特别是在环境、社会和公司治理敏感的行业。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Environmental, social, and governance (ESG) and idiosyncratic volatility: The COVID-19 pandemic and its impact on ESG-sensitive industries

This study provides an in-depth examination of the relationship between environmental, social, and governance (ESG) performance and the idiosyncratic volatility of Korean companies. In line with the risk-mitigation view, the study finds that strong ESG performance is associated with a reduction in a firm's idiosyncratic volatility. The impact of ESG performance on reducing firm volatility was particularly evident during the COVID-19 pandemic, highlighting the role of ESG performance in risk mitigation during crisis periods. The study also shows that companies with strong ESG performance in industries that are highly sensitive to ESG factors are particularly adept at reducing idiosyncratic volatility. These findings underscore the importance of ESG enhancement for both firm managers and policymakers, particularly within ESG-sensitive industries.

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来源期刊
CiteScore
5.20
自引率
19.00%
发文量
86
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