Articles producció científica> Gestió d'Empreses

Exploring the impact of sustainability (ESG) disclosure on firm value and financial performance (FP) in airline industry: the moderating role of size and age

  • Datos identificativos

    Identificador: imarina:9225809
    Autores:
    Abdi, YaghoubLi, XiaoniCamara-Turull, Xavier
    Resumen:
    This study aims at exploring the impact of ESG scores on the value and FP of firms in the airline industry. The potential moderating role of firm size and age has also been studied in an effort to disentangle their relationships in this context. In particular, the analysis involves interaction effects for two types of firms: full-service and low-cost carriers. Based on the collected data from 38 airlines worldwide for the period 2009 to 2019, we observed that contributions to governance initiatives improve a firm's market-to-book ratio. We also found that a firm's participation in social and environmental activities is positively and significantly rewarded by a higher level of financial efficiency. Additionally, firm size is the relevant moderator for the association between sustainability disclosure and both firm value and FP in the air transport industry. We therefore propose that a managerial strategy of participating in these initiatives may adapt them based on their total assets as proxy of firm size. In regard to firm age, we did not find it to be a significant moderator.
  • 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: Sustainability Strategy Resource-based view Reputation Philanthropy Nonfinancial disclosure Governance disclosure Firm value Firm size Firm age Financial performance Earnings Determinants Csr Corporate social-responsibility Airline industry
    Resumen: This study aims at exploring the impact of ESG scores on the value and FP of firms in the airline industry. The potential moderating role of firm size and age has also been studied in an effort to disentangle their relationships in this context. In particular, the analysis involves interaction effects for two types of firms: full-service and low-cost carriers. Based on the collected data from 38 airlines worldwide for the period 2009 to 2019, we observed that contributions to governance initiatives improve a firm's market-to-book ratio. We also found that a firm's participation in social and environmental activities is positively and significantly rewarded by a higher level of financial efficiency. Additionally, firm size is the relevant moderator for the association between sustainability disclosure and both firm value and FP in the air transport industry. We therefore propose that a managerial strategy of participating in these initiatives may adapt them based on their total assets as proxy of firm size. In regard to firm age, we did not find it to be a significant moderator.
    Áreas temáticas: Zootecnia / recursos pesqueiros Medicina i Materiais Management, monitoring, policy and law Interdisciplinar Green & sustainable science & technology Geography, planning and development Geografía Geociências Farmacia Environmental sciences Engenharias iii Engenharias ii Engenharias i Economics and econometrics Economia Ciencias sociales Ciências biológicas i Ciências ambientais Ciências agrárias i Biotecnología Biodiversidade Arquitetura, urbanismo e design Administração pública e de empresas, ciências contábeis e turismo
    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://link.springer.com/article/10.1007%2Fs10668-021-01649-w
    URL Documento de licencia: https://repositori.urv.cat/ca/proteccio-de-dades/
    Referencia al articulo segun fuente origial: Environment Development And Sustainability. 24 (4): 5052-5079
    Referencia de l'ítem segons les normes APA: Abdi, Yaghoub; Li, Xiaoni; Camara-Turull, Xavier (2022). Exploring the impact of sustainability (ESG) disclosure on firm value and financial performance (FP) in airline industry: the moderating role of size and age. Environment Development And Sustainability, 24(4), 5052-5079. DOI: 10.1007/s10668-021-01649-w
    DOI del artículo: 10.1007/s10668-021-01649-w
    Entidad: Universitat Rovira i Virgili
    Año de publicación de la revista: 2022
    Tipo de publicación: Journal Publications
  • Palabras clave:

    Economics and Econometrics,Environmental Sciences,Geography, Planning and Development,Green & Sustainable Science & Technology,Management, Monitoring, Policy and Law
    Sustainability
    Strategy
    Resource-based view
    Reputation
    Philanthropy
    Nonfinancial disclosure
    Governance disclosure
    Firm value
    Firm size
    Firm age
    Financial performance
    Earnings
    Determinants
    Csr
    Corporate social-responsibility
    Airline industry
    Zootecnia / recursos pesqueiros
    Medicina i
    Materiais
    Management, monitoring, policy and law
    Interdisciplinar
    Green & sustainable science & technology
    Geography, planning and development
    Geografía
    Geociências
    Farmacia
    Environmental sciences
    Engenharias iii
    Engenharias ii
    Engenharias i
    Economics and econometrics
    Economia
    Ciencias sociales
    Ciências biológicas i
    Ciências ambientais
    Ciências agrárias i
    Biotecnología
    Biodiversidade
    Arquitetura, urbanismo e design
    Administração pública e de empresas, ciências contábeis e turismo
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