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| Title: | 亞洲新興國家之ESG 對財務績效的影響： 經濟E、社會S、或治理G的影響力較大？
E, S, or G? The Effect of ESG on Financial Performance in Asian Emerging Markets |
| Authors: | 郭鎧明
Goetze, Klemens |
| Contributors: | 林月雲
Lin, Carol
郭鎧明
Klemens Goetze |
| Keywords: | 企業社會責任(CSR)
環境、社會、治理 (ESG)
中國
印度
印尼
馬來西亞
南韓
菲律賓
台灣
泰國
發展中國家
Corporate Social Responsibility (CSR)
Environmental, Social, and Governance (ESG)
China
India
Indonesia
Malaysia
South Korea
Philippines
Taiwan
Thailand
Developing Countries |
| Date: | 2022 |
| Issue Date: | 2022-07-01 16:18:20 (UTC+8) |
| Abstract: | This thesis adds an Asian emerging markets perspective to the long-running debate discussing the association of environmental, social, and governance (ESG) criteria with corporate financial performance (CFP). While evidence from frontier economies tends towards a positive ESG – CFP connotation, the phenomenon is yet scarcely investigated in emerging markets, especially within the Asian context. To address this research gap, ten linear models based on 3,270 observations from 327 firms headquartered in China, India, Indonesia, Republic of Korea (S. Korea), Malaysia, Philippines, Taiwan, and Thailand from 2012 to 2021 were subject to this thesis. The results indicate a significant positive relationship between ESG and financial return as well as firm value, both complementary to an approximation of overall financial performance. Observed effects were particularly vigorous for social aspects, which is in line with Asian companies’ age-old tradition of giving back to the community. Moreover, the empirical analysis provides evidence for a significant positive moderating effect of financial slack on the ESG – CFP link, suggesting both stakeholder theory and slack resources act simultaneously and reinforcingly resulting in a virtuous cycle. |
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| Description: | 碩士
國立政治大學
國際經營管理英語碩士學位學程(IMBA)
110933069 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0110933069 |
| Data Type: | thesis |
| DOI: | 10.6814/NCCU202200506 |
| Appears in Collections: | [國際經營管理英語碩士學程IMBA] 學位論文
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