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22 pages, 288 KiB  
Article
An X-Ray Using NLP Techniques of Financial Reporting Quality in Central and Eastern European Countries
by Tatiana Dănescu and Roxana Maria Stejerean
Int. J. Financial Stud. 2025, 13(3), 142; https://doi.org/10.3390/ijfs13030142 - 6 Aug 2025
Abstract
This study assesses the quality of financial reporting in ten Central and Eastern European countries using a methodology based on natural language processing (NLP) techniques. 570 annual reports of companies listed on the main index on the stock exchanges of 10 Central and [...] Read more.
This study assesses the quality of financial reporting in ten Central and Eastern European countries using a methodology based on natural language processing (NLP) techniques. 570 annual reports of companies listed on the main index on the stock exchanges of 10 Central and Eastern European (CEE) countries, over the period 2019–2023, were evaluated to determine the degree of convergence of the following four measurable qualitative characteristics: relevance, exact representation, comparability and understandability. The main objective is to identify consistency in the quality of accounting information based on the application of an international financial reporting framework. The applied methodology eliminates subjective variability by implementing a standardized scoring system, aligned with the criteria developed by NiCE, using libraries such as spaCy and NLTK for term extraction, respective sentiment analysis and word frequency evaluation. The results reveal significant heterogeneity in all characteristics examined, with statistical tests confirming substantial differences between countries. The investigation of relevance revealed partial convergence, with three dimensions achieving complete uniformity, while the exact representation showed the highest variability. The assessment of comparability showed a significant difference between countries’ extreme values, and in terms of comprehensibility a formalistic approach was evident, with technical dimensions outweighing user-oriented aspects. The overall quality index varied significantly across countries, with a notable average deterioration in 2023, indicating structural vulnerabilities in financial reporting systems. These findings support initial hypotheses on the lack of homogeneity in the quality of financial reporting in the selected region, despite the implementation of international standards. Full article
39 pages, 1121 KiB  
Article
Digital Finance, Financing Constraints, and Green Innovation in Chinese Firms: The Roles of Management Power and CSR
by Qiong Zhang and Zhihong Mao
Sustainability 2025, 17(15), 7110; https://doi.org/10.3390/su17157110 - 6 Aug 2025
Abstract
With the increasing global emphasis on sustainable development goals, and in the context of pursuing high-quality sustainable development of the economy and enterprises, this study empirically examines the effect of digital finance on corporate financing constraints and the impact on corporate green innovation [...] Read more.
With the increasing global emphasis on sustainable development goals, and in the context of pursuing high-quality sustainable development of the economy and enterprises, this study empirically examines the effect of digital finance on corporate financing constraints and the impact on corporate green innovation with a sample of China’s A-share-listed companies in the period of 2011–2020 and explores the issue from the perspectives of management power and corporate social responsibility (CSR) at the micro level of enterprises. The empirical results show that digital finance can indeed alleviate corporate financing constraints. Still, the synergistic effect of the two on corporate green innovation produces a “quantitative and qualitative separation” effect, which only promotes the enhancement of iconic green innovation, and the effect on substantive green innovation is not obvious. The power of management and CSR performanceshave different moderating roles in the alleviation of financing constraints by the empowerment of digital finance. Management power and corporate social responsibility have different moderating effects on digital financial empowerment to alleviate financing constraints. The findings of this study enrich the research in related fields and provide more basis for the promotion of digital financial policies and more solutions for the high-quality development of enterprises. Full article
(This article belongs to the Special Issue Advances in Economic Development and Business Management)
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29 pages, 1867 KiB  
Article
Exploring the Triple Dividend Effect and Threshold Effect of Environmental Protection Tax: Evidence from Chinese Listed Companies
by Chenghao Ye, Hongjie Gao and Igor A. Mayburov
Sustainability 2025, 17(15), 7038; https://doi.org/10.3390/su17157038 - 3 Aug 2025
Viewed by 298
Abstract
This study uses financial data from 872 Chinese listed companies (2018–2022). It tests the triple dividend effect and threshold effect of China’s environmental protection tax (EPT) using high-dimensional fixed effects models and panel threshold models. We document that (1) EPT creates an environmental [...] Read more.
This study uses financial data from 872 Chinese listed companies (2018–2022). It tests the triple dividend effect and threshold effect of China’s environmental protection tax (EPT) using high-dimensional fixed effects models and panel threshold models. We document that (1) EPT creates an environmental dividend for Chinese listed companies. It significantly reduces pollution emissions. A 1-unit tax increase reduces LnTPPE by 2.5%. (2) EPT creates a significant innovation dividend. It forces enterprises to improve the quality of authorized patents. A 1-unit tax increase raises patent technological complexity by 0.79%. (3) EPT creates an economic dividend. It significantly improves firm performance. A 1-unit tax increase raises relative corporate revenue by 38.1%. (4) EPT exerts significant threshold effects on micro-level triple dividend outcomes among Chinese listed companies. A heterogeneity analysis shows significant differences in threshold effects between non-heavily polluting and heavily polluting industries. This study confirms that China’s EPT generates a micro-level triple dividend effect alongside coexisting threshold effects for listed companies. This provides literature references for China to design and implement differentiated policies and offers a quantitative empirical case for implementing globally sustainable EPT strategies. Full article
(This article belongs to the Section Air, Climate Change and Sustainability)
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25 pages, 384 KiB  
Article
Perception of Corporate Governance Factors in Mitigating Financial Statement Fraud in Emerging Markets: Jordan Experience
by Mohammed Shanikat and Mai Mansour Aldabbas
J. Risk Financial Manag. 2025, 18(8), 430; https://doi.org/10.3390/jrfm18080430 - 1 Aug 2025
Viewed by 347
Abstract
This study investigates the influence of corporate governance on reducing financial statement fraud (FSF) in Jordanian service and industrial companies listed on the Amman Stock Exchange from 2018 to 2022. To achieve this, the study employed the Beneish M-score model to assess the [...] Read more.
This study investigates the influence of corporate governance on reducing financial statement fraud (FSF) in Jordanian service and industrial companies listed on the Amman Stock Exchange from 2018 to 2022. To achieve this, the study employed the Beneish M-score model to assess the likelihood of FSF and logistic regression to examine the influence of corporate governance structure on fraud mitigation. The study identified 13 independent variables, including board size, board director’s independence, board director’s compensation, non-duality of CEO and chairman positions, board diversity, audit committee size, audit committee accounting background, number of annual audit committee meetings, external audit fees, board family business, the presence of women on the board of directors, firm size, and market listing on FSF. The study included 74 companies from both sectors—33 from the industrial sector and 41 from the service sector. Primary data was collected from financial statements and other information published in annual reports between 2018 and 2022. The results of the study revealed a total of 295 cases of fraud during the examined period. Out of the 59 companies analyzed, 21.4% demonstrated a low probability of fraud, while the remaining 78.6% (232 observations) showed a high probability of fraud. The results indicate that the following corporate governance factors significantly impact the mitigation of financial statement fraud (FSF): independent board directors, board diversity, audit committee accounting backgrounds, the number of audit committee meetings, family business involvement on the board, and firm characteristics. The study provides several recommendations, highlighting the importance for companies to diversify their boards of directors by incorporating different perspectives and experiences. Full article
(This article belongs to the Section Business and Entrepreneurship)
22 pages, 405 KiB  
Article
The Impact of ESG Performance on Corporate Investment Efficiency: Evidence from Chinese Listed Companies
by Zhuo Li, Yeteng Ma, Li He and Zhili Tan
J. Risk Financial Manag. 2025, 18(8), 427; https://doi.org/10.3390/jrfm18080427 - 1 Aug 2025
Viewed by 304
Abstract
Recent theoretical and empirical studies highlight that information asymmetry and owner–manager conflict of interest can distort corporate investment decisions. Building on this premise, we hypothesize that superior environmental, social, and governance (ESG) performance mitigates these frictions by (H1) alleviating financing constraints and (H2) [...] Read more.
Recent theoretical and empirical studies highlight that information asymmetry and owner–manager conflict of interest can distort corporate investment decisions. Building on this premise, we hypothesize that superior environmental, social, and governance (ESG) performance mitigates these frictions by (H1) alleviating financing constraints and (H2) intensifying external analyst scrutiny. To test these hypotheses, we examine all Shanghai and Shenzhen A-share non-financial firms from 2009 to 2023. Using panel fixed-effects and two-stage least squares with an industry–province–year instrument, we find that higher ESG performance significantly reduces investment inefficiency; the effect operates through both lower financing constraints and greater analyst coverage. Heterogeneity analyses reveal that the improvement is pronounced in small non-state-owned, non-high-carbon firms but absent in large state-owned high-carbon emitters. These findings enrich the literature on ESG and corporate performance and offer actionable insights for regulators and investors seeking high-quality development. Full article
(This article belongs to the Section Business and Entrepreneurship)
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22 pages, 760 KiB  
Review
Strengthening Corporate Governance and Financial Reporting Through Regulatory Reform: A Comparative Analysis of Greek Laws 3016/2002 and 4706/2020
by Savvina Paganou, Ioannis Antoniadis, Panagiota Xanthopoulou and Vasilios Kanavas
J. Risk Financial Manag. 2025, 18(8), 426; https://doi.org/10.3390/jrfm18080426 - 1 Aug 2025
Viewed by 665
Abstract
This study explores how corporate governance reforms can enhance financial reporting quality and organizational transparency, focusing on Greece’s transition from Law 3016/2002 to Law 4706/2020. The legislative reform aimed to modernize governance structures, align national practices with international standards, and strengthen investor protection [...] Read more.
This study explores how corporate governance reforms can enhance financial reporting quality and organizational transparency, focusing on Greece’s transition from Law 3016/2002 to Law 4706/2020. The legislative reform aimed to modernize governance structures, align national practices with international standards, and strengthen investor protection in a post-crisis economic environment. Moving beyond a simple legal comparison, the study examines how Law 3016/2002’s formal compliance model contrasts with Law 4706/2020’s more substantive accountability framework. We hypothesize that Law 4706/2020 introduces substantively stronger governance mechanisms than its predecessor, thereby improving transparency and investor protection, while compliance with the new law imposes materially greater administrative and financial burdens, especially on small- and mid-cap firms. Methodologically, the research employs a narrative literature review and a structured comparative legal analysis to assess the administrative and financial implications of the new law for publicly listed companies, focusing on board composition and diversity, internal controls, suitability policies, and disclosure requirements. Drawing on prior comparative evidence, we posit that Law 4706/2020 will foster governance and disclosure improvements, enhanced oversight, and clearer board roles. However, these measures also impose compliance burdens. Due to the heterogeneity of listed companies and the lack of firm-level data following Law 4706/2020’s implementation, the findings are neither fully generalizable nor quantifiable; future quantitative research using event studies or panel data is required to validate the hypotheses. We conclude that Greece’s new framework is a critical step toward sustainable corporate governance and more transparent financial reporting, offering regulators, practitioners, and scholars examining legal reform’s impact on governance effectiveness and financial reporting integrity. Full article
(This article belongs to the Special Issue Research on Corporate Governance and Financial Reporting)
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26 pages, 344 KiB  
Article
The Impact of Green Bond Issuance on Corporate Environmental and Financial Performance: An Empirical Study of Japanese Listed Firms
by Yutong Bai
Int. J. Financial Stud. 2025, 13(3), 141; https://doi.org/10.3390/ijfs13030141 - 1 Aug 2025
Viewed by 342
Abstract
Based on firm-level data of Japanese listed companies for the period of 2013–2022, this study conducts an empirical analysis to investigate how the issuance of green bonds influences corporate environmental and financial performance. The results show that the green bond issuance demonstrates a [...] Read more.
Based on firm-level data of Japanese listed companies for the period of 2013–2022, this study conducts an empirical analysis to investigate how the issuance of green bonds influences corporate environmental and financial performance. The results show that the green bond issuance demonstrates a reduction in corporate greenhouse gas emission intensity and energy consumption intensity in the long term. Moreover, the issuance of green bonds enhances the financial performance of firms in the long run. However, the positive effect of green bond issuance on corporate environmental and financial performance is significant only among firms that have set specific quantitative environmental targets. In addition, for manufacturing and transportation green bond issuers that have set specific quantitative environmental targets, the improvement in environmental performance is evident in both the long and short term. Full article
(This article belongs to the Special Issue Investment and Sustainable Finance)
14 pages, 233 KiB  
Article
Looking Through the Corporate Glass Ceiling in China
by Runping Zhu, Zunbin Huo, Zeqing Chen and Richard Krever
J. Risk Financial Manag. 2025, 18(8), 423; https://doi.org/10.3390/jrfm18080423 - 1 Aug 2025
Viewed by 190
Abstract
An important element in the Constitution of the People’s Republic of China is the guarantee of gender equality in all fields. The principle is not reflected in terms of corporate governance and senior management, however. A study of the largest 400 companies listed [...] Read more.
An important element in the Constitution of the People’s Republic of China is the guarantee of gender equality in all fields. The principle is not reflected in terms of corporate governance and senior management, however. A study of the largest 400 companies listed on Chinese stock exchanges shows far fewer female board members and senior managers than male counterparts and only a small improvement over the course of a decade. A comparison of gender balances in terms of a range of variables, including stock exchange listing, industry type, and ownership type, reveals better balances in wholly privately owned firms than in those with controlling state interests. Subject to intervening government policies to promote state-owned enterprises over private sector counterparts, the pattern over the decade studied suggests there is a possibility privately owned enterprises may gradually displace state-owned companies in the largest 400 group and gender balances in senior roles in the largest 400 group will consequently improve. Full article
(This article belongs to the Special Issue Emerging Issues in Economics, Finance and Business—2nd Edition)
24 pages, 623 KiB  
Article
Evaluation of Competitiveness and Sustainable Development Prospects of French-Speaking African Countries Based on TOPSIS and Adaptive LASSO Algorithms
by Binglin Liu, Liwen Li, Hang Ren, Jianwan Qin and Weijiang Liu
Algorithms 2025, 18(8), 474; https://doi.org/10.3390/a18080474 - 30 Jul 2025
Viewed by 242
Abstract
This study evaluates the competitiveness and sustainable development prospects of French-speaking African countries by constructing a comprehensive framework integrating the TOPSIS method and adaptive LASSO algorithm. Using multivariate data from sources such as the World Bank, 30 indicators covering core, basic, and auxiliary [...] Read more.
This study evaluates the competitiveness and sustainable development prospects of French-speaking African countries by constructing a comprehensive framework integrating the TOPSIS method and adaptive LASSO algorithm. Using multivariate data from sources such as the World Bank, 30 indicators covering core, basic, and auxiliary competitiveness were selected to quantitatively analyze the competitiveness of 26 French-speaking African countries. Results show that their comprehensive competitiveness exhibits spatial patterns of “high in the north and south, low in the east and west” and “high in coastal areas, low in inland areas”. Algeria, Morocco, and six other countries demonstrate high competitiveness, while Central African countries generally show low competitiveness. The adaptive LASSO algorithm identifies three key influencing factors, including the proportion of R&D expenditure to GDP, high-tech exports, and total reserves, as well as five secondary key factors, including the number of patent applications and total number of domestic listed companies, revealing that scientific and technological investment, financial strength, and innovation transformation capabilities are core constraints. Based on these findings, sustainable development strategies are proposed, such as strengthening scientific and technological research and development and innovation transformation, optimizing financial reserves and capital markets, and promoting China–Africa collaborative cooperation, providing decision-making references for competitiveness improvement and regional cooperation of French-speaking African countries under the background of the “Belt and Road Initiative”. Full article
(This article belongs to the Special Issue Hybrid Intelligent Algorithms (2nd Edition))
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24 pages, 883 KiB  
Article
Climate Policy Uncertainty and Corporate Green Governance: Evidence from China
by Haocheng Sun, Haoyang Lu and Alistair Hunt
Systems 2025, 13(8), 635; https://doi.org/10.3390/systems13080635 - 30 Jul 2025
Viewed by 434
Abstract
Drawing on a panel dataset of 27,972 firm-year observations from Chinese A-share listed companies spanning 2009 to 2022, this study employs fixed-effects models to examine the nonlinear relationship between firm-level climate policy uncertainty (FCPU) and corporate green governance expenditure (GGE). The results reveal [...] Read more.
Drawing on a panel dataset of 27,972 firm-year observations from Chinese A-share listed companies spanning 2009 to 2022, this study employs fixed-effects models to examine the nonlinear relationship between firm-level climate policy uncertainty (FCPU) and corporate green governance expenditure (GGE). The results reveal a robust inverted U-shaped pattern: moderate levels of FCPU encourage firms to increase GGE, while excessive uncertainty discourages it. Financing constraints mediate this relationship; specifically, FCPU exhibits a U-shaped impact on financing constraints, initially easing and then tightening them. Older top management teams accelerate the GGE downturn, while government environmental expenditure delays it, acting as a buffer. Heterogeneity analyses reveal the inverted U-shaped effect is more pronounced for non-polluting firms and state-owned enterprises (SOEs). This study highlights the complex dynamics of FCPU on corporate green behavior, underscoring the importance of climate policy stability and transparency for advancing corporate environmental engagement in China. Full article
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23 pages, 1114 KiB  
Article
A Company-Based View on Sustainable Packaging Orientation
by Paulo Duarte, Maria Inês Ribeiro, Susana C. Silva, Rúben Pinhal and Ana Estima
Sustainability 2025, 17(15), 6890; https://doi.org/10.3390/su17156890 - 29 Jul 2025
Viewed by 219
Abstract
This study aims to understand how companies address and integrate sustainability challenges in packaging design, as well as the motivations and processes that influence managers’ decisions when adopting sustainable practices. Semi-structured interviews were conducted with managers from five major Portuguese companies to gather [...] Read more.
This study aims to understand how companies address and integrate sustainability challenges in packaging design, as well as the motivations and processes that influence managers’ decisions when adopting sustainable practices. Semi-structured interviews were conducted with managers from five major Portuguese companies to gather qualitative data on the motivations and processes related to sustainable packaging strategies and actions. The list of questions was developed based on the literature review, from which the dimensions to be analyzed were identified. The results indicate that several factors influence companies’ decisions regarding sustainability in packaging. Despite some factors being beyond the control of companies, the interviews reveal that companies possess the necessary knowledge and are committed to adopting more sustainable packaging. Full article
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18 pages, 385 KiB  
Article
The Impact of the CEO’s Green Experience on Corporate ESG Performance: Based on the Upper Echelons Theory Perspective
by Jinke Li, Yanpeng Zhu and Tianfang Ma
Sustainability 2025, 17(15), 6859; https://doi.org/10.3390/su17156859 - 28 Jul 2025
Viewed by 391
Abstract
In the context of pursuing the goal of strategic imperatives of sustainable development, the ESG performance of enterprises has become a key yardstick for measuring their comprehensive environmental contribution and economic efficiency. Enhancing ESG performance has far-reaching significance in promoting green and sustainable [...] Read more.
In the context of pursuing the goal of strategic imperatives of sustainable development, the ESG performance of enterprises has become a key yardstick for measuring their comprehensive environmental contribution and economic efficiency. Enhancing ESG performance has far-reaching significance in promoting green and sustainable development of enterprises and society. Drawing on the upper echelons theory, this paper investigates the impact of the chief executive officer’s (CEO’s) green experience on corporate environmental, social, and governance (ESG) performance, utilizing a sample of publicly listed Chinese companies from 2011 to 2023. The study demonstrates that CEOs with green experience significantly enhance corporate ESG performance, a conclusion that remains consistent following a series of rigorous robustness checks. Mechanistic analysis reveals that CEOs’ green experience primarily facilitates corporate ESG performance enhancement through green innovation initiatives. Furthermore, CEO discretion amplifies the positive influence of green experience on ESG performance. Heterogeneity analysis demonstrates that the influence of the CEOs’ green experience on ESG performance is more pronounced in high-tech enterprises, in markets characterized by lower levels of competition, and in firms situated in regions exhibiting higher degrees of social trust. These findings impart both theoretical and practical implications for enhancing corporate ESG performance and offer novel strategic perspective to advance environmental stewardship, social responsibility, and corporate governance frameworks. Full article
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23 pages, 614 KiB  
Article
Air Pollution, Credit Ratings, and Corporate Credit Costs: Evidence from China
by Haoran Wang and Jincheng Wang
Sustainability 2025, 17(15), 6829; https://doi.org/10.3390/su17156829 - 27 Jul 2025
Viewed by 341
Abstract
From the perspective of credit ratings, this paper studies the impact of air pollution on corporate credit costs and the impact mechanism. Based on 2007–2022 data on A-share listed companies in the Chinese capital market, this paper uses a two-way fixed effects model [...] Read more.
From the perspective of credit ratings, this paper studies the impact of air pollution on corporate credit costs and the impact mechanism. Based on 2007–2022 data on A-share listed companies in the Chinese capital market, this paper uses a two-way fixed effects model to examine the impact of air pollution on corporate credit costs and the impact mechanism. The results show that air pollution increases the credit costs for enterprises because air pollution affects the sentiment of rating analysts, leading them to give more pessimistic credit ratings to enterprises located in areas with severe air pollution. The moderating effect analysis reveals that the effect of air pollution on the increase in corporate credit costs is more pronounced for high-polluting industries, manufacturing industries, and regions with weaker bank competition. Further analysis reveals that in the face of rising credit costs caused by air pollution, enterprises tend to adopt a combination strategy of increasing commercial credit financing and reducing the commercial credit supply to cope. Although this response behavior alleviates corporations’ own financial pressure, it may have a negative effect on supply chain stability. This paper provides new evidence that reveals that air pollution is an implicit cost in the capital market, enriching research in the fields of environmental governance and capital markets. Full article
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31 pages, 1632 KiB  
Article
Climate Risks and Common Prosperity for Corporate Employees: The Role of Environment Governance in Promoting Social Equity in China
by Yi Zhang, Pan Xia and Xinjie Zheng
Sustainability 2025, 17(15), 6823; https://doi.org/10.3390/su17156823 - 27 Jul 2025
Viewed by 427
Abstract
Promoting social equity is a global issue, and common prosperity is an important goal for human society’s sustainable development. This study is the first to examine climate risks’ impacts on common prosperity from the perspective of corporate employees, providing micro-level evidence for the [...] Read more.
Promoting social equity is a global issue, and common prosperity is an important goal for human society’s sustainable development. This study is the first to examine climate risks’ impacts on common prosperity from the perspective of corporate employees, providing micro-level evidence for the coordinated development of climate governance and social equity. Employing data from companies listed on the Shanghai and Shenzhen stock exchanges from 2016 to 2023, a fixed-effects model analysis was conducted, and the results showed the following: (1) Climate risks are positively associated with the common prosperity of corporate employees in a significant way, and this effect is mainly achieved through employee guarantees, rather than employee remuneration or employment. (2) Climate risk will increase corporate financing constraints, but it will also force companies to improve their ESG performance. (3) The mechanism tests show that climate risks indirectly promote improvements in employee rights and interests by forcing companies to improve the quality of internal controls and audits. (4) The results of the moderating effect analysis show that corporate size and performance have a positive moderating effect on the relationship between climate risk and the common prosperity of corporate employees. This finding may indicate the transmission path of “climate pressure—governance upgrade—social equity” and suggest that climate governance may be transformed into social value through institutional changes in enterprises. This study breaks through the limitations of traditional research on the financial perspective of the economic consequences of climate risks, incorporates employee welfare into the climate governance assessment framework for the first time, expands the micro research dimension of common prosperity, provides a new paradigm for cross-research on ESG and social equity, and offers recommendations and references for different stakeholders. Full article
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21 pages, 2763 KiB  
Article
Predicting Environmental Social and Governance Scores: Applying Machine Learning Models to French Companies
by Sina Belkhiria, Azhaar Lajmi and Siwar Sayed
J. Risk Financial Manag. 2025, 18(8), 413; https://doi.org/10.3390/jrfm18080413 - 26 Jul 2025
Viewed by 379
Abstract
The main objective of this study is to analyse the relevance of financial performance as an accurate predictor of ESG scores for French companies from 2010 to 2022. To this end, Machine Learning techniques such as linear regression, polynomial regression, Random Forest, and [...] Read more.
The main objective of this study is to analyse the relevance of financial performance as an accurate predictor of ESG scores for French companies from 2010 to 2022. To this end, Machine Learning techniques such as linear regression, polynomial regression, Random Forest, and Support Vector Regression (SVR) were employed to provide more accurate and reliable assessments, thus informing the ESG rating attribution process. The results obtained highlight the excellent performance of the Random Forest method in predicting ESG scores from company financial variables. In addition, the approach identified specific financial variables (operating income, market capitalisation, enterprise value, etc.) that act as powerful predictors of companies’ ESG scores. This modelling approach offers a robust tool for predicting companies’ ESG scores from financial data, which can be valuable for investors and decision-makers wishing to assess and understand the impact of financial variables on corporate sustainability. Also, this allows sustainability investors to diversify their portfolios by including companies that are not currently rated by ESG rating agencies, that do not produce sustainability reports, as well as newly listed companies. It also gives companies the opportunity to identify areas where improvements are needed to enhance their ESG performance. Finally, it facilitates access to ESG ratings for interested external stakeholders. Our study focuses on using advances in artificial intelligence, exploring machine learning techniques to develop a reliable predictive model of ESG scores, which is proving to be an original and promising area of research. Full article
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