Articles producció científica> Gestió d'Empreses

Impact of sustainability on firm value and financial performance in the air transport industry

  • Datos identificativos

    Identificador: imarina:9138932
    Autores:
    Abdi, YaghoubLi, XiaoniCamara-Turull, Xavier
    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.
  • Otros:

    Autor según el artículo: Abdi, Yaghoub; Li, Xiaoni; Camara-Turull, Xavier
    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 Ren 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: yaghoub.abdi@estudiants.urv.cat yaghoub.abdi@estudiants.urv.cat xiaoni.li@urv.cat xavier.camara@urv.cat xavier.camara@urv.cat
    Identificador del autor: 0000-0002-7551-3068 0000-0002-7551-3068 0000-0002-4047-4046 0000-0001-7018-080X 0000-0001-7018-080X
    Fecha de alta del registro: 2024-10-12
    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: https://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, Yaghoub; Li, Xiaoni; Camara-Turull, Xavier (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
  • Palabras clave:

    Computer Networks and Communications,Education,Energy Engineering and Power Technology,Environmental Science (Miscellaneous),Environmental Sciences,Environmental Studies,Geography, Planning and Development,Green & Sustainable Science & Technology,Hardware and Architecture,Management, Monitoring, Policy and Law,Ren,Renewable Energy, Sustain
    Tobin’s q
    Sustainability
    Market-to-book ratio
    Firm value
    Financial performance
    Environmental, social and governance (esg)
    Air transport industry
    Zootecnia / recursos pesqueiros
    Renewable energy, sustainability and the environment
    Ren
    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
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