Autor según el artículo: Abdi Y; Li X; Càmara-Turull X

Departamento: Gestió d'Empreses

Autor/es de la URV: Abdi, Yaghoub / Càmara Turull, Xavier / Li, Xiaoni

Palabras clave: Tobin’s q Sustainability Market-to-book ratio Firm value Financial performance Environmental, social and governance (esg) Air transport industry

Resumen: © 2020 by the authors. Licensee MDPI, Basel, Switzerland. In this study, we examine the extent to which the implementation of environmental, social, and governance (ESG) disclosures influence the firm value and financial performance of airlines. The panel data analysis is applied to the set of collected data from the Thomson Reuters Eikon database for the sample of 27 airlines worldwide from 2013 to 2019. Findings of this study support the positive relationship between the environmental pillar score (Env) and governance pillar score (Gov), with market-to-book ratio and Tobin’s Q as proxies for firm value and financial performance, respectively. This finding implies that an increase in both pillars leads to higher market value and financial efficiency for investigated airlines. Therefore, an airline’s effort to improve Env and Gov dimensions will lead to higher market value and return on invested funds. In contrast, the social pillar disclosure in both models is found to have a significant negative association with the dependent variables, showing that airlines’ social activities result in lower value as well as level of performance.

Áreas temáticas: Zootecnia / recursos pesqueiros Renewable energy, sustainability and the environment Medicina i Management, monitoring, policy and law Interdisciplinar Historia Hardware and architecture Green & sustainable science & technology Geography, planning and development Geografía Geociências Environmental studies Environmental sciences Environmental science (miscellaneous) Ensino Engenharias iii Engenharias ii Engenharias i Enfermagem Energy engineering and power technology Education Computer science (miscellaneous) Computer networks and communications Ciências agrárias i Building and construction Biotecnología Biodiversidade Arquitetura, urbanismo e design Arquitetura e urbanismo

Acceso a la licencia de uso: https://creativecommons.org/licenses/by/3.0/es/

Direcció de correo del autor: xavier.camara@urv.cat xavier.camara@urv.cat xiaoni.li@urv.cat yaghoub.abdi@estudiants.urv.cat yaghoub.abdi@estudiants.urv.cat

Identificador del autor: 0000-0001-7018-080X 0000-0001-7018-080X 0000-0002-4047-4046 0000-0002-7551-3068 0000-0002-7551-3068

Fecha de alta del registro: 2023-08-05

Versión del articulo depositado: info:eu-repo/semantics/publishedVersion

Enlace a la fuente original: https://www.mdpi.com/2071-1050/12/23/9957

URL Documento de licencia: http://repositori.urv.cat/ca/proteccio-de-dades/

Referencia al articulo segun fuente origial: Sustainability. 12 (23): 1-22

Referencia de l'ítem segons les normes APA: Abdi Y; Li X; Càmara-Turull X (2020). Impact of sustainability on firm value and financial performance in the air transport industry. Sustainability, 12(23), 1-22. DOI: 10.3390/su12239957

DOI del artículo: 10.3390/su12239957

Entidad: Universitat Rovira i Virgili

Año de publicación de la revista: 2020

Tipo de publicación: Journal Publications