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Sustainability 2018, 10(4), 909; https://doi.org/10.3390/su10040909

Does Sustainability Affect Corporate Performance and Economic Development? Evidence from the Asia-Pacific region and North America

1
Department of Economics, Auburn University, Auburn, AL 36849, USA
2
School of Business, Hanyang University, Seoul 04763, South Korea
This work was supported by the research fund of Hanyang University(HY-2013).
*
Author to whom correspondence should be addressed.
Received: 19 February 2018 / Revised: 12 March 2018 / Accepted: 14 March 2018 / Published: 21 March 2018
(This article belongs to the Section Economic, Business and Management Aspects of Sustainability)
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Abstract

This paper explores how sustainability influences financial returns and economic development in the Asia-Pacific region and North America, utilizing real data empirically. It is controversial that sustainable activities are related to financial performance. For clarification, we tested hypotheses analyzing sustainability index, seven stock markets, financial data such as ROI, ROIC, and ROA from eleven companies, and GDP/GNI per capita, based on the Asia-Pacific region and North America. The results indicate that both financial return for companies and economic development in the two regions are positively germane to sustainable investment. Besides, we found evidence that sustainable investment impacts economic development based on variance decomposition analysis, depending on GDP per capita between the two regions. This implication will be interesting for both practitioners and researchers regarding the measurement of sustainable performance. View Full-Text
Keywords: sustainability; sustainable investment; corporate performance; economic development; VAR; and VECM sustainability; sustainable investment; corporate performance; economic development; VAR; and VECM
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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (CC BY 4.0).

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Kim, K.; Lee, S.-M. Does Sustainability Affect Corporate Performance and Economic Development? Evidence from the Asia-Pacific region and North America. Sustainability 2018, 10, 909.

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