The role of ESG in acquirers' performance change after M&amp;amp;A deals

Feng, Xuan

doi:10.3934/gf.2021015

Cited by 13 publications

(6 citation statements)

References 27 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…Despite the existence of the principal-agent relationship in modern corporate systems, where managers pursue their economic interests and shareholders aim to maximize shareholder value, there is often limited consideration given by managers and shareholders to the environmental responsibilities of companies, particularly in the absence of mandatory policies or investor oversight [8,9]. As the global environment deteriorates and the concept of sustainable development becomes more prevalent, governments and investors are paying increasing attention to corporate social responsibility and other related aspects [10][11][12][13][14][15]. Corporate social responsibility encompasses various aspects, including fulfilling social and environmental responsibilities.…”

Section: Introductionmentioning

confidence: 99%

The Impact of Digital Transformation on ESG: A Case Study of Chinese-Listed Companies

Peng,

Chen,

2023

Sustainability

View full text Add to dashboard Cite

Enterprise digital transformation involves leveraging digital technologies to optimize and improve business operations. Not only does it augment operational efficiency, but it also establishes favorable conditions for bolstering ESG. To investigate the impact of digital transformation on ESG performance, this study employs a fixed effects model. The analysis utilizes data from a sample of 1422 publicly listed companies in China, spanning the period of 2012 to 2021. This paper further explores the mechanism and heterogeneity behind this impact. The research findings indicate that digital transformation has a positive impact on the ESG performance of companies. It remains robust even after conducting robustness tests, which include omitted variable and endogeneity tests. Furthermore, the study identifies variations in the influence of digital transformation on different dimensions of ESG performance. Through a mechanism analysis, it is revealed that digital transformation positively affects ESG performance by optimizing the structure of human capital, enhancing operational efficiency, and promoting green innovation. Additionally, heterogeneity analysis indicates that the positive effect of digital transformation on ESG performance is particularly significant in capital-intensive industries, high-tech companies, and companies with low carbon emissions.

show abstract

Section: Introductionmentioning

confidence: 99%

The Impact of Digital Transformation on ESG: A Case Study of Chinese-Listed Companies

Peng,

Chen,

2023

Sustainability

View full text Add to dashboard Cite

show abstract

“…It is necessary to take into account the types of M&A transactions, in particular, the level of identity of the goals of companies of different industry affiliation at the same stages of merger (Chipurenko and Lisitskaya. 2021;Feng 2021).…”

Section: Discussionmentioning

confidence: 99%

Economic security of industrial companies in conditions of energy transition

Evseeva,

Kasianenko,

Miller

et al. 2023

E3S Web Conf.

View full text Add to dashboard Cite

Effective management of industrial companies in the conditions of modern challenges contributes to the achievement of tactical and strategic goals of technological development of enterprises. In the theory and practice of industrial economics, a special place is given to environmental management, which includes operational environmental management, investment environmental management, risk management, etc. The concentration of efforts in a certain direction depends on the specifics of the activities of the subjects and the problems that they are facing. In this regard, the system of ensuring the economic security of industrial companies that faces the need to solve the tasks of a planned energy transition is of particular importance. Industrial companies of the energy sector of the world economy were selected as the object of the study. As measures to ensure economic security, the article considers a unique risk management policy, including strategic planning, systematization and risk assessment, as well as managerial control over financial, economic, scientific and technological types of risk. The study revealed that over the past five years, industrial companies have been thoroughly approaching the development of an environmental strategy. The authors identify trends in the technological transformation of the global energy complex, which determine promising areas of technological integration for the development of carbon-neutral energy. The most important direction is the development and implementation of innovations that improve environmental safety, including new technologies for the production of pure hydrogen from natural gas and recycling processes. The conducted research made it possible to identify the scientific and institutional prerequisites for risk management of technological integration and to link them with tools for ensuring economic security.

show abstract

“…In line with this, ROA decline is amplified for low-sustainability acquirers if the target's sustainability level increases. The decline is expected as a consequence of relatively higher integration costs for low-sustainability acquirers [113]. Moreover, management capabilities and management traits are identified in US samples as playing an important moderating role in the acquisition performance of firms.…”

Section: Relative Sustainability Implications For Financial Performancementioning

confidence: 99%

Understanding the Relevance of Sustainability in Mergers and Acquisitions—A Systematic Literature Review on Sustainability and Its Implications throughout Deal Stages

Kayser,

Zülch

2024

Sustainability

View full text Add to dashboard Cite

The importance of transforming business models and activities toward a sustainable economy is more urgent than ever and manifests in the adoption of international agreements and regulatory initiatives. Company transactions, including mergers and acquisitions (M&A), need to pay attention to sustainability concepts and their implications. Consequently, the current and traditional literature on M&A processes acknowledges the role of sustainability as a prerequisite for success in M&A operations. However, reviews of the relationship between sustainability and M&A from an integrative perspective that highlight the pre- and post-deal stages are limited. To bring further transparency to this context, we perform a systematic review of the academic literature on the relevance and implications of sustainability in M&A, focusing on archival studies. We present an overview of major sustainability influences at different stages of the M&A process, using the perspective of the acquirer as well as the target of sustainability. We observe that in all analyzed pre- and post-deal stages, sustainability is identified as having an impact or being impacted by M&A activities. Accordingly, practitioners’ strategic consideration of sustainability for deal origination and performance is required. Furthermore, we highlight several understudied factors and create a research agenda, as research findings are, to some extent, heterogeneous and limited.

show abstract

The role of ESG in acquirers' performance change after M&A deals

Cited by 13 publications

References 27 publications

The Impact of Digital Transformation on ESG: A Case Study of Chinese-Listed Companies

The Impact of Digital Transformation on ESG: A Case Study of Chinese-Listed Companies

Economic security of industrial companies in conditions of energy transition

Understanding the Relevance of Sustainability in Mergers and Acquisitions—A Systematic Literature Review on Sustainability and Its Implications throughout Deal Stages

Contact Info

Product

Resources

About