The Impact of COVID-19-Induced Sentiment on Firm Performance: The Moderating Impact of Sustainable ESG Activities
This paper uses the data of nonfinancial firms from 49 countries to show that the benefits of improvements in COVID-19-induced sentiment accrue to firms that expend more resources on sustainable environmental, social, and governance (ESG) activities. The findings remain robust across various estimat...
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| Veröffentlicht in: | Sustainability 2024-08, Vol.16 (16), p.7053 |
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| creator | Abou Tanos, Barbara Ahmed, Neveen Farooq, Omar |
| description | This paper uses the data of nonfinancial firms from 49 countries to show that the benefits of improvements in COVID-19-induced sentiment accrue to firms that expend more resources on sustainable environmental, social, and governance (ESG) activities. The findings remain robust across various estimation strategies and across various subsamples. The findings also show that the social and environmental dimensions of ESG moderate the relationship between COVID-19-induced sentiment and firm performance. In contrast, the governance dimension has no significant impact. Our findings suggest that firms should prioritize the environmental and social dimensions of ESG to build resilience and protect themselves from adverse shocks. |
| doi_str_mv | 10.3390/su16167053 |
| format | Article |
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| ispartof | Sustainability, 2024-08, Vol.16 (16), p.7053 |
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| language | eng |
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| source | MDPI - Multidisciplinary Digital Publishing Institute; EZB-FREE-00999 freely available EZB journals |
| subjects | Coronaviruses COVID-19 Decision making Financial performance International finance Investments Investor behavior Pandemics Securities markets Social responsibility Stock exchanges Volatility |
| title | The Impact of COVID-19-Induced Sentiment on Firm Performance: The Moderating Impact of Sustainable ESG Activities |
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