Too Much of a Good Thing? Two-side effect of ESG on corporate financial performance.
學年 113
學期 1
出版（發表）日期 2024-10-29
作品名稱 Too Much of a Good Thing? Two-side effect of ESG on corporate financial performance.
作品名稱（其他語言）
著者 Xiaodong Teng; Shouhai Wang; Huiping Liu; Wengang Sun; Desheng Zhu; Kun-Shan Wu
單位
出版者
著錄名稱、卷期、頁數 Engineering Economics, 35(4), 487-503.
摘要 The purpose of this research is to clarify the curvilinear link between Environmental, Social and Governance (ESG) and corporate financial performance (CFP), and draws upon the “too much of a good thing” (TMGT) theory to verify whether the curvilinear relationship supports the conflicting results of previous studies. The sample comprises 69 listed companies in Taiwan with ESG disclosures over 2005 to 2020. The findings reveal that ESG impacts CFP in an inverted- U shaped, which is predominantly evident in the environmental and social pillars. This study validates the rising popularity of ESG investments. To enhance CFP, businesses must meticulously assess the allocation of capital to ESG to prevent under or over-investment. Managers should be aware of the TMGT effect and ensure the threshold of ESG is identified, as this is essential to balancing the cost/value trade-off, improving the CFP, and maintaining sustainable development.
關鍵字 ESG; corporate financial performance; inverted U-shaped; TMGT effect; sustainable development
語言 en
ISSN 2029-5839
期刊性質 國外
收錄於 SCI Scopus
產學合作
通訊作者 Kun-Shan Wu
審稿制度 是
國別 LTU
公開徵稿
出版型式 ,電子版
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機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/126657 )

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