ESG in Focus : UK, France, Germany, China and Malaysia Evidence
Abd Halim, Sarah
2014 dissertation for MSc in Finance and Risk. Selected by academic staff as a good example of a masters level dissertation. The firms and financial institutions claim that ESG factors can have long-term\ud significances on a firm’s financial performance, either for healthier or for\ud poorer. This paper focused on two areas of studied, firstly, about the\ud relationship between the firm’s performance and Environmental, Social,\ud Governance (ESG) disclosure using Bloomberg Terminal as a main sources.\ud Secondly, this paper also will explain further whether ownership of the\ud company will influence ESG disclosure or not. The study found that ESg as\ud positive significant relationship with the firm performance, which are return\ud on equity (ROE), return on asset (ROA) and pretax margin (PTMR) but\ud negative significant relationship between price to book ratio (PB). The finding\ud was consistent with the previous research. However, the second area of\ud study was found that the ownership not significant on ESG disclosure. This is\ud contrary to previous studies. The quantitative research was regressed using\ud Eviews after the panel data of the five countries which are UK, France,\ud Germany, China ad Malaysia was obtained from Year 2009 to 2012.
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