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Does ESG certification add firm value?

delete2021-03-01
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PRE
AI
W
Woei Chyuan Wong *
J
Jonathan A. Batten
A
Abd Halim Ahmad
A
Azira Abdul Adzis
DOI:10.1016/j.frl.2020.101593delete
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摘要

摘要

En 中文
This paper examines the impact of environmental, social and governance (ESG) certification on Malaysian firms. The analysis shows that ESG certification lowers a firm's cost of capital, while Tobin's Q increases significantly. These findings, while consistent with existing studies in developed economies, demonstrate the value enhancement from corporate social responsibility disclosure by firms in emerging and developing nations. Overall, the study confirms the benefits to stakeholders from firms pursuing an ESG agenda.
Keyword:
Cost of capital
Corporate social responsibility
Emerging markets
Environmental social and governance
certification
ESG
Malaysia
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期刊

Finance Research Letters 封面图
Finance Research Letters
IF:
6.9
论文数:
9.2K
被引数:
2.8W

机构

U
Universiti Utara Malaysia
学者数:
834
论文数: 788
被引数: 4
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