Does ESG certification add firm value?

This paper examines the impact of environmental, social and governance (ESG) certification on Malaysian firms. The analysis shows that ESG certification lowers a firm's cost of capital, while Tobin's Q increases significantly. These findings, while consistent with existing studies in devel...

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Main Authors:	Wong, Woei Chyuan, Batten, Jonathan A., Ahmad, Abd Halim @ Hamilton, Mohamed Arshad, Shamsul Bahrain, Nordin, Sabariah, Abdul Adzis, Azira
Format:	Article
Language:	English
Published:	Elsevier Inc. 2020
Subjects:	HG Finance
Online Access:	http://repo.uum.edu.my/27111/1/10.1016%40j.frl.2020.101593.pdf http://repo.uum.edu.my/27111/ http://doi.org/10.1016/j.frl.2020.101593
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Institution:	Universiti Utara Malaysia
Language:	English

id	my.uum.repo.27111
record_format	eprints
spelling	my.uum.repo.271112020-11-04T03:00:32Z http://repo.uum.edu.my/27111/ Does ESG certification add firm value? Wong, Woei Chyuan Batten, Jonathan A. Ahmad, Abd Halim @ Hamilton Mohamed Arshad, Shamsul Bahrain Nordin, Sabariah Abdul Adzis, Azira HG Finance This paper examines the impact of environmental, social and governance (ESG) certification on Malaysian firms. The analysis shows that ESG certification lowers a firm's cost of capital, while Tobin's Q increases significantly. These findings, while consistent with existing studies in developed economies, demonstrate the value enhancement from corporate social responsibility disclosure by firms in emerging and developing nations. Overall, the study confirms the benefits to stakeholders from firms pursuing an ESG agenda. Elsevier Inc. 2020 Article PeerReviewed application/pdf en http://repo.uum.edu.my/27111/1/10.1016%40j.frl.2020.101593.pdf Wong, Woei Chyuan and Batten, Jonathan A. and Ahmad, Abd Halim @ Hamilton and Mohamed Arshad, Shamsul Bahrain and Nordin, Sabariah and Abdul Adzis, Azira (2020) Does ESG certification add firm value? Finance Research Letters. pp. 1-18. ISSN 15446123 http://doi.org/10.1016/j.frl.2020.101593 doi:10.1016/j.frl.2020.101593
institution	Universiti Utara Malaysia
building	UUM Library
collection	Institutional Repository
continent	Asia
country	Malaysia
content_provider	Universiti Utara Malaysia
content_source	UUM Institutional Repository
url_provider	http://repo.uum.edu.my/
language	English
topic	HG Finance
spellingShingle	HG Finance Wong, Woei Chyuan Batten, Jonathan A. Ahmad, Abd Halim @ Hamilton Mohamed Arshad, Shamsul Bahrain Nordin, Sabariah Abdul Adzis, Azira Does ESG certification add firm value?
description	This paper examines the impact of environmental, social and governance (ESG) certification on Malaysian firms. The analysis shows that ESG certification lowers a firm's cost of capital, while Tobin's Q increases significantly. These findings, while consistent with existing studies in developed economies, demonstrate the value enhancement from corporate social responsibility disclosure by firms in emerging and developing nations. Overall, the study confirms the benefits to stakeholders from firms pursuing an ESG agenda.
format	Article
author	Wong, Woei Chyuan Batten, Jonathan A. Ahmad, Abd Halim @ Hamilton Mohamed Arshad, Shamsul Bahrain Nordin, Sabariah Abdul Adzis, Azira
author_facet	Wong, Woei Chyuan Batten, Jonathan A. Ahmad, Abd Halim @ Hamilton Mohamed Arshad, Shamsul Bahrain Nordin, Sabariah Abdul Adzis, Azira
author_sort	Wong, Woei Chyuan
title	Does ESG certification add firm value?
title_short	Does ESG certification add firm value?
title_full	Does ESG certification add firm value?
title_fullStr	Does ESG certification add firm value?
title_full_unstemmed	Does ESG certification add firm value?
title_sort	does esg certification add firm value?
publisher	Elsevier Inc.
publishDate	2020
url	http://repo.uum.edu.my/27111/1/10.1016%40j.frl.2020.101593.pdf http://repo.uum.edu.my/27111/ http://doi.org/10.1016/j.frl.2020.101593
_version_	1684655803071463424

Does ESG certification add firm value?

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