Value Relevance of Environmental, Social and Governance Disclosure

Zuraida, Zuraida; Houqe, Nurul; Zijl, Tony van

doi:10.2139/ssrn.2376521

Cited by 8 publications

(9 citation statements)

References 139 publications

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“…One has to remember, however, that an enterprise is still a team of people that are conscious (i.e., a sort of collective consciousness), in which counter-arguments have been debated and merit further examination [37,49,50]. In enterprise-related operations, fiscal decisions may be presented as functions of impersonal processes, in which decisions are a result of a number of individual factors making up a collective output (i.e., an individual decision by an employee is only a fraction in a large set of factors impacting a decision of the enterprise) [48][49][50]55]. Correspondingly, an executive managing an enterprise is said to represent the interests of the owner.…”

Section: Sd Of Enterprises and Csr In Businessmentioning

confidence: 99%

Sustainable Supply Chain of Enterprises: Value Analysis

2020

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An enterprise carrying out operations according to the sustainable development (SD) concept should maximize its business goals without affecting interest groups. It requires not only a rethinking, but also a partial allocation of profit to social goals—used to contribute to and create a positive image of the enterprise and improve its competitiveness—over the long-term. Operations should result in an increase in profit—indirectly—by way of demand. This paper explores the sustainable supply chain (SSC) concept and the interplay of corporate social responsibility (CSR) within business objectives. The concept of SSC-compliant CSR is primarily stressed as an executive, top-down centric role. Businesses and societies at large that foster an SD continuum are considered healthy economies. The SD of enterprises and CSR in business are explored in relation to social investment and considered a viable long-term strategy for doing business. A pilot case study of Poland is carried out as a value analysis of the SSCs of enterprises. The key findings illustrate the benefits and problems of SSCs applied at the enterprise level. The problems of applying the principles of SSC within the enterprise and the connection between its levels of strategy and social value in terms of CSR and entrepreneurial operations are examined. Comparative studies indicate a number of overlapping trends in which positive SSC is cross-functional toward business partners, suppliers, customers, investors, and local communities.

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Section: Sd Of Enterprises and Csr In Businessmentioning

confidence: 99%

Sustainable Supply Chain of Enterprises: Value Analysis

2020

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“…By examining the relationship between ESG disclosure and financial performance, various studies provide empirical support for the notion that sustainability disclosure is (partially) value relevant (Guidry and Patten, ; Schadewitz and Niskala, ; Berthelot et al , ; Dhaliwal et al , ; Clarkson et al , ; Zuraida et al , ; Cahan et al , ; de Villiers and Marques, ; Goettsche et al , ; Kaspereit and Lopatta, ; Qiu et al , ). However, despite the important role of ESG disclosures (Rikhardsson and Holm, ; Elliott et al , ), the question of how the readers are affected by the reports and how they perceive them has mostly been neglected (Fifka, ).…”

Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

Enhancing Market Valuation of ESG Performance: Is Integrated Reporting Keeping its Promise?

2016

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This paper studies the effectiveness of a firm's strategy to report on its ESG activities with regard to the extent and direction in which the firm's ESG performance is valued by capital market investors. It is the first to disentangle the moderating effects of different types of ESG reporting on market valuation of ESG performance and to analyze whether following the current integrated reporting trend is worth the effort. Results indicate that ESG performance is valued more strongly and in the (desired) positive direction when firms publish an ESG report, irrespective of its type (stand‐alone or integrated). Furthermore, integrated reporting is associated with superior outcomes compared with a stand‐alone report for composite ESG and corporate governance performance. Our findings are important for corporate managers, as they help to understand market valuation of ESG performance in dependence on the reporting type and provide guidance for formulating and evaluating the reporting strategy. Copyright © 2016 John Wiley & Sons, Ltd and ERP Environment

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“…By examining the relationship between ESG disclosure and financial performance, various studies provide empirical support for the notion that sustainability disclosure is (partially) value relevant (Guidry and Patten, 2010;Schadewitz and Niskala, 2010;Berthelot et al, 2012;Dhaliwal et al, 2012;Clarkson et al, 2013;Zuraida et al, 2014;Cahan et al, 2015;de Villiers and Marques, 2016;Goettsche et al, 2016;Kaspereit and Lopatta, 2016;Qiu et al, 2016). However, despite the important role of ESG disclosures (Rikhardsson and Holm, 2008;Elliott et al, 2014), the question of how the readers are affected by the reports and how they perceive them has mostly been neglected (Fifka, 2013).…”

Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%