scholarly journals Sustainability Disclosure and Financial Performance: Evidence in Malaysia Public Listed Companies

2022 ◽  
Vol 9 (1/2) ◽  
pp. 1
Author(s):  
Noor Azuddin Yakob ◽  
Norraidah Abu Hasan
Keyword(s):  
Financial Performance ◽  
Listed Companies ◽  
Sustainability Disclosure

scholarly journals Materiality of Disclosure of Non-financial Sustainability Information and Company Financial Performance: Evidence from Australian Listed Companies

2021 ◽  
Vol 8 (2) ◽  
pp. 199-214
Author(s):  
Ashraf Al Mamun
Keyword(s):  
Financial Performance ◽  
Fixed Effects ◽  
Research Training ◽  
Negative Relationship ◽  
Sustainability Reporting ◽  
Listed Companies ◽  
Financial Sustainability ◽  
Firm Level ◽  
Regulatory Policies ◽  
Sustainability Disclosure

The broad objective of this paper is to investigate the relationships between the disclosure of non-financial material sustainability information and the financial performance of listed Australian companies in the materials sector. Using firm-level fixed-effects analysis for all companies, the findings show a mixed relationship (no relationship or statistically significant negative relationship) between lagged aggregate non-financial material sustainability disclosure and financial performance of Australian listed companies in the materials sector. The present study contributes to the existing literature on disclosure of non-financial sustainability information by adding insights into the materiality concept of non-financial sustainability disclosure in the Australian context. The evidence from the current study is expected to provide useful information for the companies’ stakeholders in Australia who use both financial and non-financial information for formulating business and regulatory policies and for decisions regarding the persistent expansion of sustainability reporting requirements.   Funding Acknowledgement: This study is funded by the “Australian Government Research Training Program (RTP) Scholarship”.

Sustainability Disclosure and the Financialization of Social Sustainability

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Daniela Woschnack ◽  
Stefanie Hiss ◽  
Sebastian Nagel ◽  
Bernd Teufel
Keyword(s):  
Content Analysis ◽  
Empirical Study ◽  
Financial Performance ◽  
Financial Market ◽  
Empirical Data ◽  
Qualitative Content Analysis ◽  
Social Sustainability ◽  
Rating Agencies ◽  
Sustainability Disclosure ◽  
Definition Of

Abstract This empirical study explores the financialization of social sustainability driven by sustainability accounting and reporting initiatives (SARIs). Since no globally accepted definition of what social sustainability encompasses exists, the paper asks how social sustainability is translated into the financial market language by SARIs as they provide standards for disclosing corporate non-financial performance and promote their concepts of social sustainability. The paper uses a two-step qualitative content analysis. First, it operationalizes social sustainability based on the empirical data of six sustainability rating agencies. Second, this operationalization is compared with the concepts created by three SARIs. The paper shows significant differences between the concepts of the SARIs and the rating agencies. While the rating agencies altogether interpret social sustainability with 83 distinct aspects, the SARIs, although differently created, use significant reduced concepts where 20% of these aspects are absent. The result of this financialization process could be a simplified and financially determined concept of social sustainability within die socially discourse. The research is limited to social sustainability and its financialization by SARIs. Individual indicators and their way or intensity to capture aspects of social sustainability were not part of the research interest. Further research should investigate the economic and the ecological pillars of sustainability as well as the usage of such financialized concepts within the society and especially by corporations. The paper unfolds the arbitrariness of operationalizing a qualitative phenomenon like social sustainability through the financial system. It discloses the need for looking at the mechanisms behind such processes and at the interests of the actors behind the frameworks. The paper reveals the financialization process driven by SARIs and demonstrates its simplifying effects on the concept of social sustainability. Furthermore, the paper shows that SARIs as metrics for non-financial aspects are troubled with a lack of transparency and a lack of convergence.

scholarly journals Application of Corporate Social Responsibility -- Taking Chinese Listed Companies in the COVID-19 as an Example

2021 ◽  
Author(s):  
Chih-Yi Hsiao ◽  
Hao-Wei Chen
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Financial Constraints ◽  
Listed Companies ◽  
Factors Affecting ◽  
Financial Slack ◽  
Revenue Growth ◽  
Chinese Listed Companies ◽  
Corporate Social

This study focuses on a sample of Chinese listed companies from 2019 to 2020 to explore the relationships among corporate social responsibility, financial constraints, and financial performance. In addition, we discuss five factors affecting financial constraints. We also analyze the types of enterprises that can improve their financial performance by implementing corporate social responsibility keeping in mind the factors that lead to a high degree of financial constraint. The results indicate that: 1. The degree of financial constraints has a negative and significant impact on financial performance; 2. There is a reverse relationship between the degree of financial constraints and the effectiveness of corporate social responsibility measures; 3. Enterprises with high financial constraints (due to lower financial slack and revenue growth rates) can significantly improve their financial performance through the implementation of effective corporate social responsibility programs. 4. Enterprises with high financial constraints, caused by financial slack and revenue growth rate, can significantly improve their financial performance by implementing corporate social responsibility programs.

scholarly journals “You Cannot Hide Forever Luke”: Understanding the Strategic Use of Sustainability Disclosure in the Short and Long Term

M n gement ◽  
2020 ◽  
pp. 19-37
Author(s):  
Samuel Touboul ◽  
Asli Kozan
Keyword(s):  
Longitudinal Data ◽  
Financial Performance ◽  
Stock Exchanges ◽  
Legitimacy Theory ◽  
Short Term ◽  
Sustainability Performance ◽  
Sustainability Disclosure ◽  
Short And Long Term ◽  
Detrimental Impact

This study investigates the relationships among firms’ sustainability disclosure, sustainability performance, and financial performance. Based on legitimacy theory and signaling theory, it argues that sustainability disclosure participates in two distinct mechanisms: a conformity mechanism through which disclosure shows conformity to the norms and a revelation mechanism through which disclosure reveals or hides a firm’s achieved degree of sustainability. In an attempt to contrast and reconcile the two mechanisms, the study assesses their impact on financial performance in the short and long term. Hypotheses are tested using longitudinal data (2002–2010), which cover 10,814 observations of firms from major indexes of stock exchanges worldwide. The results show that the conformity mechanism is effective in both the short and long terms, whereas the revelation mechanism is only effective in the short term. As a consequence, firms with poor sustainability performance may hide their detrimental impact and achieve higher financial performance in the short term by limiting their disclosure but not in the long term in which their lack of conformity is punished. In the long term, only conformity to the norms of disclosure leads to higher financial performance, even in the case of poor sustainability results.

scholarly journals Enterprise Low-Carbon Behavior, Financial Performance and Economic Transformation——Data from Listed Companies in China

2021 ◽  
Vol 275 ◽  
pp. 02004
Author(s):  
Hongmei Sun ◽  
Shuqi Yao ◽  
Mucun Zhai
Keyword(s):  
Financial Performance ◽  
Industrial Structure ◽  
Listed Companies ◽  
Economic Transformation ◽  
Carbon Intensity ◽  
Low Carbon ◽  
Positive Relationships ◽  
Chinese Listed Companies ◽  
Low Carbon Development ◽  
Optimization And Upgrading

The low-carbon development of enterprises is an important breakthrough in Chinese economic transformation and the optimization and upgrading of the industrial structure. Based on a sample of Chinese listed companies involved in the low-carbon industry from 2010 to 2018, this paper empirically analyzes the correlation between the low carbon behavior, economic transformation and financial performance of listed companies. The results show that a company’s carbon intensity and financial performance are negatively related, and this relation is more significant when the financial performance is measured using the ROA (return on asset) of listed companies. The level of economic transformation in places where enterprises are located can significantly strengthen the positive relationship between enterprise low-carbon behavior and financial performance, including in central and western areas, where positive relationships are strengthened, and areas with heavy polluting industries, where positive relationships are weakened. Therefore, it is necessary to strengthen carbon emission supervision for non-heavy polluting industries and enterprises in the central and western regions.

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