Publicação
The value of environmental, social and governance performance: attenuating the corporate diversification discount
| Resumo: | This study explores the relationship between corporate diversification, ESG performance, and excess value. Confirming a diversification discount for value and ESG performance, findings seem to indicate that firms disclosing ESG data outperform the market. Notably, for firms that disclose ESG data as well as for firms with higher ESG performance, the negative diversification-excess value relationship is attenuated. Diversification type (related or unrelated) does not significantly impact this moderation effect. These findings contribute to understanding the nuanced dynamics of diversification and ESG, providing valuable insights for businesses seeking to enhance financial performance through strategic choices. |
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| Autores principais: | Schwan, Alma-Clarisse |
| Assunto: | Corporate diversification discount Relatedness Excess value Esg scores Esg disclosure |
| Ano: | 2024 |
| País: | Portugal |
| Tipo de documento: | dissertação de mestrado |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | Universidade Nova de Lisboa |
| Idioma: | inglês |
| Origem: | Repositório Institucional da UNL |
| Resumo: | This study explores the relationship between corporate diversification, ESG performance, and excess value. Confirming a diversification discount for value and ESG performance, findings seem to indicate that firms disclosing ESG data outperform the market. Notably, for firms that disclose ESG data as well as for firms with higher ESG performance, the negative diversification-excess value relationship is attenuated. Diversification type (related or unrelated) does not significantly impact this moderation effect. These findings contribute to understanding the nuanced dynamics of diversification and ESG, providing valuable insights for businesses seeking to enhance financial performance through strategic choices. |
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