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Revisiting the impact of ESG on financial performance of FTSE350 UK firms: Static and dynamic panel data analysis

Ahmed, Nisar, Mobarek, Asma and Nawazesh Roni, Naheed 2021. Revisiting the impact of ESG on financial performance of FTSE350 UK firms: Static and dynamic panel data analysis. Cogent Business and Management 8 (1) , 1900500. 10.1080/23311975.2021.1900500

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Abstract

This study re-examines the impact of ESG (economic, environmental, social, and corporate governance performance) on the financial performance of UK firms. Most recent sample of 351 firms from FTSE350 for the time period 2002–2018 is used. The study estimates the impact of total ESG and individual dimensions of ESG on corporate financial performance using static and dynamic panel data techniques, and it also examines the impact of high and low ESG on firm financial performance. Further, the study investigates the role of firm size as a moderator in the relationship between ESG and firm financial performance. The results of total ESG performance indicate that ESG has a positive and significant impact on firm financial performance. However, in the case of the individual ESG performance, the results are mixed. Overall, the results confirm that high ESG firms show high financial performance as compared to low ESG firms. Results indicate that firm size moderates the relationship between ESG performance and firm financial performance.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Additional Information: This open access article is distributed under a Creative Commons Attribution (CC-BY) 4.0 license.
Publisher: Cogent OA
Date of First Compliant Deposit: 17 August 2021
Date of Acceptance: 4 March 2021
Last Modified: 17 Aug 2021 09:30
URI: http://orca.cardiff.ac.uk/id/eprint/143228

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