ESG AND INTELLECTUAL CAPITAL EFFICIENCY: EVIDENCE FROM ASEAN EMERGING MARKETS
نویسندگان
چکیده
This study aims to investigate the impacts of Environmental, Social, and Governance (ESG) in total individual performance (“E”, “S”, “G”) on firms’ intellectual capital (IC) efficiency. The Value-Added Intellectual Coefficient (VAIC) Modified (MVAIC) were used measure IC Meanwhile, annual ESG index data from ASEAN-4 2015 2020. results show “E”, “G” positively affect efficiency managing IC. In addition, industry type moderates these relationships terms that banks have a greater influence than non-banks. Our are robust, indicating consistent results. paper contributes literature by examining whether is determinant non-financial performance; as far our observation knowledge, it still very limited.
منابع مشابه
Market Efficiency of Asean Stock Markets
In this paper, we examine the stock market efficiency of the members of the Association of South East Asian Nations (ASEAN). We use the conventional individual variance ratio tests like the Lo and MacKinlay (1988) test, Choi (1999) test, Wright (2000) test and Chen and Deo (2006)) test to check for the efficient market hypothesis in these markets. We also perform the spectral shape test of Durl...
متن کاملEmerging Markets – A New Paradigm for ESG Investing
Emerging markets and ESG (Environmental, Social, and Governance) investing have been two of the fastest growing investment specialty areas over the past decade but for very different reasons. Emerging market growth rates were driven by a rising middle class, need for more advanced infrastructure and regulation, and an increased international flow of goods and capital. ESG investing, on the othe...
متن کاملFinancial integration and emerging markets capital structure
0378-4266/$ see front matter 2010 Published by doi:10.1016/j.jbankfin.2010.10.017 ⇑ Corresponding author at: School of Business an Integration Studies, Trinity College Dublin, College G +353 1 8961522; fax: +353 1 6799503. E-mail addresses: [email protected] (B.M. Lucey), qzha This paper investigates the impact of country-level financial integration on corporate financing choices in emerging econom...
متن کاملInternal Capital Markets and Investment Efficiency: Evidence from Janpanese Industrial Groups
Using a sample of 12,136 firm-years between 1993 and 1998, I examine the investment policies of firms in Japanese industrial groups. My findings indicate that internal capital markets among keiretsu firms are active. Investment at the firm level is positively correlated with cash flows from the remainder of the keiretsu. Furthermore, firms in industrial groups tend to invest more than predicted...
متن کاملMomentum Decomposition: Evidence from Emerging Markets
To explain the reason why momentum effect in emerging markets is much weaker than that in developed markets. We divide the traditional momentum returns into intra-style momentum and inter-style momentum effect on the basis of style investing. According to the result, intra-style momentum effect spreads widely in all of the twelve emerging markets, as the primary driving factor for the overall m...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Jurnal Akuntansi dan Keuangan Indonesia
سال: 2022
ISSN: ['1829-8494', '2406-9701']
DOI: https://doi.org/10.21002/jaki.2022.08