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A Structured Literature Review of the Impact of ESG Activities on Firm Performance

Author

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  • Maria Arsin

    (Universidad Catolica San Antonio de Murcia, Spain)

Abstract

The purpose of this paper is to review empirical studies on the impact of ESG (Environmental, Social, and Governance) activities on firm performance. After nearly two decades of its initial formal proposal in 2004 by United Nation’s Principles for Responsible Investment, significant advances can be observed regarding progress on ESG activities in different regions worldwide. The existing literature has numerous debates about the relationship between ESG activities and financial performance with heterogeneous results. A growing body of empirical literature has evaluated positive implications of ESG activities on firm performance, while other studies indicate a negative relationship. This study aims to investigate this discrepancy by accumulating knowledge from ESG-related literature and uncover the discourse on ESG. Consequently, this research provides different views and contributes to a better understanding of the ESG concept. In particular, due to recent regulatory initiatives by the European Union, such as the European Taxonomy and additional disclosure requirements, the focus of this study is on the data conducted on European companies.

Suggested Citation

  • Maria Arsin, 2023. "A Structured Literature Review of the Impact of ESG Activities on Firm Performance," Scientia Moralitas Journal, Scientia Moralitas, Research Institute, vol. 8(1), pages 34-45, July.
    • Handle: RePEc:smo:journl:v:8:y:2023:i:1:p:34-45
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