Article Per Year (5 Year)
p-Index From 2021 - 2026
0.408
P-Index
This Author published in this journals
All Journal Indonesian Journal of Sustainability Accounting and Management Indonesian Journal of Sustainability Accounting and Management
Ajay Lunawat
Rajagiri College of Social Sciences (Autonomous), Kochi, India
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Published : 2 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 2 Documents
Search

 1 
Do Environmental, Social, and Governance Performance Impact Firm Performance? Evidence from Indian Firms Ajay Lunawat; Dipti Lunawat
Indonesian Journal of Sustainability Accounting and Management Vol 6, No 1 (2022): June 2022 Article-in-Press
Publisher : Universitas Pasundan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28992/ijsam.v6i1.519

Abstract

This paper investigates the impact of individual environmental (E), social (S), and governance (G) and the overall ESG performance on the firms’ performance in Indian context. Three dimensions of firms’ performance, i.e., operational, financial, and market performance, are measured through return on assets, return on equity, and firm value (Tobin’s Q), respectively. The study spans the period from 2012 to 2019, with NSE 500 firms as the first sample set and NSE 100 ESG enhanced index firms as the second sample set. Panel data analysis was performed with efficiency tests for the random and fixed-effects models. The study deduced that the ESG index listed firms have better operational and financial performance than the non-listed ESG firms. With the second sample set, the impact of ESG and its subcomponents’ performance on firms’ performance was examined. Overall, ESG had a positive and significant association with operational and market performance. All the subcomponents positively impact operational performance and negatively impact market performance. The impact of ESG and its subcomponents on financial performance could not be established except for the governance score. The study findings will be beneficial for investors, regulators, and corporate sustainability decision-makers in their different capacities and roles across global markets.
Do Environmental, Social, and Governance Performance Impact Firm Performance? Evidence from Indian Firms Ajay Lunawat; Dipti Lunawat
Indonesian Journal of Sustainability Accounting and Management Vol. 6 No. 1 (2022): June 2022
Publisher : Universitas Pasundan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28992/ijsam.v6i1.519

Abstract

This paper investigates the impact of individual environmental (E), social (S), and governance (G) and the overall ESG performance on the firms’ performance in Indian context. Three dimensions of a firm’s performance, i.e., operational, financial, and market performance, are measured through return on assets, return on equity, and firm value (Tobin’s Q), respectively. The study spans the period from 2012 to 2019, with NSE 500 firms as the first sample set and NSE 100 ESG enhanced index firms as the second sample set. Panel data analysis was performed with efficiency tests for the random and fixed-effects models. The study deduced that the ESG index listed firms have better operational and financial performance than the non-listed ESG firms. With the second sample set, the impact of ESG and its subcomponents’ performance on firms’ performance was examined. Overall, ESG had a positive and significant association with operational and market performance. All the subcomponents positively impact operational performance and negatively impact market performance. The impact of ESG and its subcomponents on financial performance could not be established except for the governance score. The study findings will be beneficial for investors, regulators, and corporate sustainability decision-makers in their different capacities and roles across global markets.
Co-Authors Dipti Lunawat