Examining impact of ESG score on financial performance of healthcare companies

Kalia, Deepali; Aggarwal, Divya

doi:10.1108/jgr-05-2022-0045

Cited by 21 publications

(16 citation statements)

References 82 publications

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“…These results support H1a. These results are consistent with the findings of the following previous studies (Ademi & Klungseth, 2022 ; Ahmad et al, 2021 ; Al Amosh et al, 2022 ; Alareeni & Hamdan, 2020 ; Carnini Pulino et al, 2022 ; Habib, 2022 ; Kalia & Aggarwal, 2022 ; Nguyen et al, 2022 ; Nurim et al, 2022 ). Accordingly, this is considered an opportunity for firm decision-makers to concentrate on adopting and enhancing ESG practices to improve FP.…”

Section: Resultssupporting

confidence: 91%

“…In most cases, the results suggest that firms with higher environmental, social, and governance performance have better market value measures. These results are consistent with previous research showing that better total and individual ESG practices can improve FP (Ademi & Klungseth, 2022;Ahmad et al, 2021;Al Amosh et al, 2022;Alareeni & Hamdan, 2020;Carnini Pulino et al, 2022;Habib, 2022;Han et al, 2016;Hu et al, 2018;Kalia & Aggarwal, 2022;Nguyen et al, 2022;Nurim et al, 2022;Qiu et al, 2016). Accordingly, this is an opportunity for firm leaders to concentrate on adopting and enhancing ESG practices to improve FP and achieve continuous improvement.…”

Section: Conclusion and Policy Implicationssupporting

confidence: 91%

“…The results show a positive impact on corporation value. Kalia and Aggarwal ( 2022 ) examine the influence of ESG practices on the FP of healthcare firms using a sample of 468 firms in 2020. The results indicate a positive influence on FP in developed economies and a negative influence on developing economies.…”

Section: Literature Review and Hypothesis Formulationmentioning

confidence: 99%

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The Influence of Environmental, Social, and Governance (ESG) Practices on US Firms’ Performance: Evidence from the Coronavirus Crisis

Habib¹,

Mourad

2023

J Knowl Econ

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This study explores the influence of total and individual ESG practices and the coronavirus crisis on US firm performance (FP). A large and recent sample of 406 US firms that adopted ESG issues during 2016–2020 was used. This study uses the generalized least-squares (GLS) regression estimator, the dynamic analysis technique, and robustness tests. The results indicate that firms with heightened ESG practices have better performance measures. In most cases, the results suggest that firms with heightened environmental, social, and governance performances have better performance measures. The results suggest that the coronavirus crisis negatively affected FP measures. In addition, the analyses of the differences suggest significant distinctions in FP due to the coronavirus crisis. This study’s findings have important implications for stakeholders. Managers could benefit from the results of this examination by recognizing the status of ESG practices and FP before and during the coronavirus crisis and identifying the linkage between the fulfillment of ESG responsibilities and FP. This study provides noteworthy practical implications that could enable managers to develop strategies and policies for adopting and enhancing ESG practices to achieve the best performance. Furthermore, the results could influence trading processes as investors and financiers pursue attractive financial returns from investments in businesses concerned with ESG issues.

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Section: Resultssupporting

confidence: 91%

Section: Conclusion and Policy Implicationssupporting

confidence: 91%

Section: Literature Review and Hypothesis Formulationmentioning

confidence: 99%

See 1 more Smart Citation

The Influence of Environmental, Social, and Governance (ESG) Practices on US Firms’ Performance: Evidence from the Coronavirus Crisis

Habib¹,

Mourad

2023

J Knowl Econ

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“…The exhaustion of natural resources and climate change has impacted the environment adversely, and this circumstance emphasises the functions and obligations of business entities in resource depletion and conservation measures (Kalia & Aggarwal, 2023). The social pillar of environmental, social, and governance (ESG) efforts has historically been supported by providers, payers, pharmaceutical, and life sciences businesses (Dyczkowska & Fijałkowska, 2022).…”

Section: Literature Reviewmentioning

confidence: 99%

A System Thinkingbased Framework for Sustainable Governance in Healthcare

Mishra,

Quttainah

2023

Indian Journal of Corporate Governance

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This study emphasises the importance of thinking beyond the constrictive perspective of shareholder profit maximisation and putting stakeholder value maximisation front and centre in healthcare. This study uses system thinking approaches to understand the pitfall of the narrow approach of shareholder profit maximisation in healthcare organisations. The study further performs stakeholder analysis to identify each stakeholder’s interests, needs, expectations, and level of influence and power over the health systems and policy. The study used multi-criteria decision analysis approach to identify the priority of the stakeholder organisations. The criteria used for the prioritisation are levels of interest, influence, and impact. Contrary to belief pharmaceutical companies were found to be the most significant player in driving the outcomes of the healthcare system. The study also emphasises the role of government and regulators in the achievement of the same. Stakeholder analysis done in the study also concurs with these findings. Finally, the study uses the grounded theory approach to suggest a framework for the achievement of objectives and providing sustainable governance. This study concludes that by thinking beyond shareholder profit maximisation, healthcare organisations can prioritise patient-centred care, social responsibility, and innovation, ultimately leading to better outcomes for patients and society.

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“…However, an empirical finding on the domain lends support to the significance of ESG disclosures (Benlemlih et al, 2018; Harjoto & Jo, 2011). Further, empirical studies on ESG disclosure throw mixed results (Kalia & Aggarwal, 2023). As a result, one cannot take it for granted that ESG always plays a positive role.…”

Section: Introductionmentioning

confidence: 99%

Do ESG disclosures lead to superior firm performance? A method of moments panel quantile regression approach

Veeravel,

Sadharma,

Kamaiah

2023

Corp Soc Responsibility Env

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We verify the effect of ESG disclosures on firm performance using NSE 500 index listed companies spanning from 2010 to 2020. The study employs a method‐of‐moments quantile regression approach to test whether ESG disclosures lead to superior firm performance. We find evidence that environmental, social, and governance disclosures positively influence firm performance. Higher quantiles of ESG disclosures are associated with better market performance (Tobin's Q), and the same lead to lower profitability (ROA). The present study suggests that companies aspiring to improve their financial performance may pay more attention to ESG disclosure practices.

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Examining impact of ESG score on financial performance of healthcare companies

Cited by 21 publications

References 82 publications

The Influence of Environmental, Social, and Governance (ESG) Practices on US Firms’ Performance: Evidence from the Coronavirus Crisis

The Influence of Environmental, Social, and Governance (ESG) Practices on US Firms’ Performance: Evidence from the Coronavirus Crisis

A System Thinkingbased Framework for Sustainable Governance in Healthcare

Do ESG disclosures lead to superior firm performance? A method of moments panel quantile regression approach

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