The Concave-Convex Effects of Environmental, Social and Governance on High-Tech Firm Value: Quantile Regression Approach
學年 111
學期 1
出版（發表）日期 2022-09-06
作品名稱 The Concave-Convex Effects of Environmental, Social and Governance on High-Tech Firm Value: Quantile Regression Approach
作品名稱（其他語言）
著者 Kun-Shan Wu; Bao-Guang Chang
單位
出版者
著錄名稱、卷期、頁數 Corporate Social Responsibility and Environmental Management 29(5), pp.1527-1545
摘要 This study aims to investigate the nonlinear relationship between environmental, social and governance (ESG) and firm value (FV). The sample includes 38 Taiwan Stock Exchange listed high-tech firms with ESG disclosure between 2005 and 2020. Quantile regression estimation results indicate there is a nonlinear concave–convex ESG-FV relationship, which is also verified by the U-test. Furthermore, there is a different relationship between the individual ESG pillars and FV. The nexus between the environmental and social pillars and FV are concave–convex, whereas the governance pillar has no significant effect on FV. The model in this research offers a valuable analytical framework for exploring sustainability reporting as a driver of performance in the high-tech industry. Overall, we highlight Taiwan's high-tech firms should ensure that both the costs and benefits of the ESG performance for maintaining sustainable development and stakeholder engagement.
關鍵字 environmental;firm value;high-tech industry;quantile regression;social and governance;stakeholder engagement;sustainable development;Taiwan
語言 en
ISSN 1535-3966;1535-3958
期刊性質 國外
收錄於 SSCI Scopus ABS*
產學合作
通訊作者 Kun-Shan Wu
審稿制度 是
國別 GBR
公開徵稿
出版型式 ,電子版,紙本
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機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/123221 )

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