title: Responsible and profitable: How does ESG agenda increases company’s evaluation
metadata.name: dc.contributor.author
metadata.value: Nazarova, Varvara V.
metadata.lang: -
metadata.name: dc.contributor.author
metadata.value: Churakova, Iya Yu.
metadata.lang: -
metadata.name: dc.contributor.author
metadata.value: Sergachev, Boris D.
metadata.lang: -
metadata.name: dc.contributor.author
metadata.value: Orekhovskaya, Milena A.
metadata.lang: -
metadata.name: dc.date.accessioned
metadata.value: 2023-08-08T18:48:38Z
metadata.lang: -
metadata.name: dc.date.available
metadata.value: 2023-08-08T18:48:38Z
metadata.lang: -
metadata.name: dc.date.issued
metadata.value: 2023-06
metadata.lang: -
metadata.name: dc.identifier.citation
metadata.value: Nazarova V. V., Churakova I. Yu., Sergachev B. D., Orekhovskaya M. A. 2023. Responsible and profitable: How does ESG agenda increases company’s evaluation. Vestnik of Saint Petersburg University. Management 22 (2): 226–248. http://doi.org/10.21638/11701/spbu08.2023.204
metadata.lang: en_GB
metadata.name: dc.identifier.other
metadata.value: http://doi.org/10.21638/11701/spbu08.2023.204
metadata.lang: -
metadata.name: dc.identifier.uri
metadata.value: http://hdl.handle.net/11701/43631
metadata.lang: -
metadata.name: dc.description.abstract
metadata.value: This study evaluates the differences in environmental, social, and governance factors (ESG) affecting firm value by examining the rating for aggregate ESG and for each factor separately in developed and developing countries. Innovative industry companies as well as heavy industry companies are taken as examples. The paper demonstrates that the effect of ESG rating on the Tobin coefficient, taken as a proxy variable for firm value, differs across industries in developed and developing countries. Based on the observations of 4 207 firms from 35 countries over the period of 2016–2021, the findings demonstrate that the ESG ratings have a positive effect on firm value in developed countries and in innovative industries; the above-mentioned effects are persistent. It also shows that G score is important for the same groups of companies, however, for the firms registered in developing countries, an E score is sufficient in the short term. The paper concludes that lagged variables have a bigger impact on the results in heavy industries that demonstrate their concentration on internal operations, not on investors’ attention directed at the ESG factors. The findings are significant for scholars, managers and policymakers. Keywords: ESG score, ESG investment, firm value, impact evaluation, longitudinal study.
metadata.lang: en_GB
metadata.name: dc.language.iso
metadata.value: en
metadata.lang: en_GB
metadata.name: dc.publisher
metadata.value: St Petersburg State University
metadata.lang: en_GB
metadata.name: dc.relation.ispartofseries
metadata.value: Vestnik of St Petersburg University. Management;Volume 22; Issue 2
metadata.lang: -
metadata.name: dc.subject
metadata.value: ESG score
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: ESG investment
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: firm value
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: impact evaluation
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: longitudinal study
metadata.lang: en_GB
metadata.name: dc.title
metadata.value: Responsible and profitable: How does ESG agenda increases company’s evaluation
metadata.lang: en_GB
metadata.name: dc.type
metadata.value: Article
metadata.lang: en_GB
resources.filename: 942.pdf
resources.url: https://dspace.spbu.ru/bitstream/11701/43631/1/942.pdf
resources.format: Adobe PDF
resources.size: 241 kB