Firms' ESG reputational risk and market longevity: A firm-level analysis for the United States

被引：42

作者：

Fafaliou, Irene ^{[1
,2
,4
]}

Giaka, Maria ^{[1
,2
]}

Konstantios, Dimitrios ^{[1
]}

Polemis, Michael ^{[1
,2
,3
,4
]}

机构：

[1] Univ Piraeus, Dept Econ, Piraeus 18534, Greece

[2] Univ Piraeus, Entrepreneurship Technol & Econ Strategy Lab, Piraeus, Greece

[3] Hellen Competit Commiss, Athens, Greece

[4] Hellen Open Univ, Patras, Greece

来源：

JOURNAL OF BUSINESS RESEARCH | 2022年 / 149卷

关键词：

Sustainability; ESG reputational risk; Longevity; Survival Analysis; CORPORATE SOCIAL-RESPONSIBILITY; FINANCIAL CONSTRAINTS; AGENCY COSTS; CASH FLOW; SURVIVAL; PERFORMANCE; IMPACT; MANAGEMENT; PRIVATE; SUSTAINABILITY;

D O I：

10.1016/j.jbusres.2022.05.010

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This study examines the impact of environmental, social, and governance (ESG) reputational risk on a sample of listed firms' market longevity. Using a novel panel dataset consisting of US firms over the period 2007-2019, we perform dynamic empirical analysis to quantify the underlying relationships between firms' ESG reputational risk and market longevity. We argue that ESG reputational risk has a negative impact on firm growth opportunities, mitigating thus market longevity. The empirical findings survive several robustness checks, providing useful managerial implications for stakeholders and market participants..

引用

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页码：161 / 177

页数：17

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