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Erschienen in:
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2022 | OriginalPaper | Buchkapitel

6. Environmental, Social, and Governance Issues: An Empirical Literature Review Around the World

verfasst von : Claudia Cannas, Maurizio Dallocchio, Laura Pellegrini

Erschienen in: Climate Change Adaptation, Governance and New Issues of Value

Verlag: Springer International Publishing

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Abstract

This chapter examines the different strands of literature about ESG factors. First studies on the relationship between financial performances and ESG factors can be traced back to the beginning of the 1970s. However, the increasing attention of investors has prompted the academic literature to investigate the ESG impact at financial and corporate levels. Starting with a new paradigm of company able to embrace contemporary economic dimension together with environmental and social ones, we deepen the main contributions on ESG issues. Therefore, we introduce firstly studies that attempted to assess how ESG factors can impact the cost of capital, both equity and debt, and Firms’ Performance. Finally, we consider financial studies which have attempted to identify the benefits related to ESG investment choices.

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Vorheriges Kapitel Consortium Company, Circular Economy and ESG: The Comieco Case Study
Nächstes Kapitel ESG, COE and Profitability in the Oil and Gas Sector
Fußnoten
1
The Environmental Protection Agency (EPA) of Center for Corporate Climate Leadership is a resource center for all organizations looking to expand their work in the area of greenhouse gas (GHG) measurement and management. EPA, headquartered in Washington, USA, is an independent agency of the United States and is led by a representative directly appointed by the President and approved by Congress.
 
2
“High Performance Work Practices” consist into the comprehensive employee recruitment and selection processes, performance management systems, incentive compensation, employee involvement and performance.
 
3
MVA is computed as the difference between market value and capital where market value refers to the equity market valuation of the company and capital is the debt and equity invested in the company. The authors choose to examine the change in MVA between one year and the following with the aim to more accurately reflect value changes caused by events in the previous year rather than total capitalization across time.
 
4
The authors argue that these 3,718 studies adjusted for overlap tend to reduce to a net number of more than 2,200 unique studies.
 
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Metadaten
Titel
Environmental, Social, and Governance Issues: An Empirical Literature Review Around the World
verfasst von
Claudia Cannas
Maurizio Dallocchio
Laura Pellegrini
Copyright-Jahr
2022
Buch
Climate Change Adaptation, Governance and New Issues of Value

Print ISBN: 978-3-030-90114-1

Electronic ISBN: 978-3-030-90115-8

Copyright-Jahr: 2022

DOI
https://doi.org/10.1007/978-3-030-90115-8_6