Application of an Environmental, Social and Governance (ESG) Course to Enhance the Knowledge of Sustainable Finance of International Chinese College Students in Thailand

Abstract

The aim of this study was to build an ESG course for integration into a Financial Statement Analysis course to develop the knowledge of sustainable finance of international Chinese college students in Thailand. The study was based on a quasi-experimental design and a total of 108 international Chinese students majoring in finance in Thailand participated in the research. 58 of them were assigned to the experimental group, and the remaining 50 to the control group. The intervention of the ESG course was applied to the experimental group for a 45-hour' period over 6 weeks, while the control group received traditional teaching in the same period of the class schedule. At the same time, an ESG learning assessment was applied to a pre-test and post-test and the data was subjected to a statistical analysis. The results of a oneway ANCOVA showed that the performance of the experimental group on the ESG learning assessment was better than that of the control group.

Exploring Sentiment Analysis of Sustainable Finance Initiatives

“…In general, financial institutions concerned with environmental sustainability trade green financial securities on the market (Talan and Sharma 2019). Moreover, establishing a green financial system can facilitate the allocation of social capital for investments in green businesses, heighten corporate social responsibility awareness, and expedite the industry's overall transition to a greener economy (Chen et al 2022). This evidence was highly convincing during the COVID-19 pandemic.…”

“…It is obvious that sustainable development is necessary to integrate the economy, natural resources, and human well-being, both now and in the future. It is also obvious that the actions of both investors and companies can play a leading role in combating climate change and ensuring the sustainability of the global economy (Yu et al, 2022). This is due to the fact that participants in the financial market are able to influence the corporate behavior of management and individuals (Miralles-Quirós & Miralles-Quirós, 2021).…”

“…In addition to these advantages, sustainable finance can reduce the risk of financial loss, reduce expenses, and enhance the efficiency of banking operations (Liyanage et al, 2021). To accomplish sustainable finance, the current financial system must be rebuilt and modified in accordance with specific sustainable development (Yu et al, 2022). For the purpose of implementing sustainable finance, it is necessary to provide support and enhancement for the sufficient capacity of financial institutions in terms of human resources, institutions, and new financial literacy.…”