Reconsidering the impact of environmental, social and governance practices on firm profitability
Paolo Agnese,
Rosella Carè,
Massimiliano Cerciello
et al.
Abstract:PurposeThis paper investigates the relationship between commitment to ESG practices and firm performance using a synthetic index based on ESG disclosure and ESG performance scores.Design/methodology/approachUsing the Mazziotta-Pareto aggregation method, we develop a novel synthetic index of ESG engagement based on ESG rating and disclosure. This index is employed in a dynamic panel regression, implemented using the Arellano-Bond estimator, to explain profitability in a sample of 146 listed Canadian firms over … Show more
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