期刊論文
| 學年 | 111 |
|---|---|
| 學期 | 1 |
| 出版（發表）日期 | 2022-08-17 |
| 作品名稱 | Too little or too much? Exploring the inverted U-shaped nexus between voluntary environmental, social and governance and corporate financial performance |
| 作品名稱（其他語言） | |
| 著者 | Xiaodong Teng; Yongbo Ge; Kun-Shan Wu; Bao-Guang Chang; Lopin Kuo; Xinwen Zhang |
| 單位 | |
| 出版者 | |
| 著錄名稱、卷期、頁數 | Frontiers in Environmental Science 10, 969721 |
| 摘要 | This study aims to examine the nonlinear relationship between environmental, social and governance (ESG) and corporate financial performance (CFP) using Taiwan Stock Exchange (TSE) listed firms with ESG disclosure between 2005 and 2019. The pooled ordinary least square (OLS) regression estimation results indicate the ESG-CFP nexus is a nonlinear (inverted U-shaped pattern). Furthermore, the individual ESG pillars each have a different relationship with CFP. Both the environmental and social pillars have an inverted U-shaped relationship with CFP, whereas there is no significant relationship between the governance pillar and CFP. The concave nonlinear relationship also supports the tenets of the “too-much-of-a-good-thing” effect. This research confirms that TSE listed firms should identify the optimal ESG value (threshold point), where ESG costs and benefits balance, to maintain sustainable development and stakeholder engagement. |
| 關鍵字 | environmental; social and governance (ESG); corporate financial performance; inverted U-shaped; too-much-of-a-good-thing; stakeholder engagement; sustainable development |
| 語言 | en |
| ISSN | 2296-665X |
| 期刊性質 | 國外 |
| 收錄於 | SCI Scopus |
| 產學合作 | |
| 通訊作者 | Kun-Shan Wu |
| 審稿制度 | 是 |
| 國別 | CHE |
| 公開徵稿 | |
| 出版型式 | ,電子版 |
| 相關連結 |
機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/123220 ) |