Does ESG certification add firm value?
This paper examines the impact of environmental, social and governance (ESG) certification on Malaysian firms. The analysis shows that ESG certification lowers a firm's cost of capital, while Tobin's Q increases significantly. These findings, while consistent with existing studies in devel...
| Main Authors: | , , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier Inc.
2020
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| Subjects: | |
| Online Access: | https://repo.uum.edu.my/id/eprint/27111/1/10.1016%40j.frl.2020.101593.pdf |
| _version_ | 1825805592354095104 |
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| author | Wong, Woei Chyuan Batten, Jonathan A. Ahmad, Abd Halim @ Hamilton Mohamed Arshad, Shamsul Bahrain Nordin, Sabariah Abdul Adzis, Azira |
| author_facet | Wong, Woei Chyuan Batten, Jonathan A. Ahmad, Abd Halim @ Hamilton Mohamed Arshad, Shamsul Bahrain Nordin, Sabariah Abdul Adzis, Azira |
| author_sort | Wong, Woei Chyuan |
| collection | UUM |
| description | This paper examines the impact of environmental, social and governance (ESG) certification on Malaysian firms. The analysis shows that ESG certification lowers a firm's cost of capital, while Tobin's Q increases significantly. These findings, while consistent with existing studies in developed economies, demonstrate the value enhancement from corporate social responsibility disclosure by firms in emerging and developing nations. Overall, the study confirms the benefits to stakeholders from firms pursuing an ESG agenda. |
| first_indexed | 2024-07-04T06:34:49Z |
| format | Article |
| id | uum-27111 |
| institution | Universiti Utara Malaysia |
| language | English |
| last_indexed | 2024-07-04T06:34:49Z |
| publishDate | 2020 |
| publisher | Elsevier Inc. |
| record_format | eprints |
| spelling | uum-271112020-11-04T03:00:32Z https://repo.uum.edu.my/id/eprint/27111/ Does ESG certification add firm value? Wong, Woei Chyuan Batten, Jonathan A. Ahmad, Abd Halim @ Hamilton Mohamed Arshad, Shamsul Bahrain Nordin, Sabariah Abdul Adzis, Azira HG Finance This paper examines the impact of environmental, social and governance (ESG) certification on Malaysian firms. The analysis shows that ESG certification lowers a firm's cost of capital, while Tobin's Q increases significantly. These findings, while consistent with existing studies in developed economies, demonstrate the value enhancement from corporate social responsibility disclosure by firms in emerging and developing nations. Overall, the study confirms the benefits to stakeholders from firms pursuing an ESG agenda. Elsevier Inc. 2020 Article PeerReviewed application/pdf en https://repo.uum.edu.my/id/eprint/27111/1/10.1016%40j.frl.2020.101593.pdf Wong, Woei Chyuan and Batten, Jonathan A. and Ahmad, Abd Halim @ Hamilton and Mohamed Arshad, Shamsul Bahrain and Nordin, Sabariah and Abdul Adzis, Azira (2020) Does ESG certification add firm value? Finance Research Letters. pp. 1-18. ISSN 15446123 http://doi.org/10.1016/j.frl.2020.101593 doi:10.1016/j.frl.2020.101593 doi:10.1016/j.frl.2020.101593 |
| spellingShingle | HG Finance Wong, Woei Chyuan Batten, Jonathan A. Ahmad, Abd Halim @ Hamilton Mohamed Arshad, Shamsul Bahrain Nordin, Sabariah Abdul Adzis, Azira Does ESG certification add firm value? |
| title | Does ESG certification add firm value? |
| title_full | Does ESG certification add firm value? |
| title_fullStr | Does ESG certification add firm value? |
| title_full_unstemmed | Does ESG certification add firm value? |
| title_short | Does ESG certification add firm value? |
| title_sort | does esg certification add firm value |
| topic | HG Finance |
| url | https://repo.uum.edu.my/id/eprint/27111/1/10.1016%40j.frl.2020.101593.pdf |
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