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Assessing The Impact Of Esg On Financial Performance: An Empirical Cross-Sectoral Study Of Sustainable Companies In Romania Using Regression Models

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  • PULBERE (GHELASE) CARMEN CORNELIA

    (DOCTORAL SCHOOL OF SOCIO-HUMAN SCIENCES, FACULTY OF ECONOMICS AND BUSINESS ADMINISTRATION, DUNAREA DE JOS UNIVERSITY OF GALATI, GALATI, ROMANIA)

  • NECULITA MIHAELA

    (DOCTORAL SCHOOL OF SOCIO-HUMAN SCIENCES, FACULTY OF ECONOMICS AND BUSINESS ADMINISTRATION, DUNAREA DE JOS UNIVERSITY OF GALATI, GALATI, ROMANIA)

Abstract

This study investigates the relationship between ESG (Environmental, Social, and Governance) performance and financial outcomes in Romania's most sustainable companies, based on CST Index scores. Using a sample of 20 firms from diverse sectors and testing thousands of regression regression models, the research applies rigorous statistical criteria (R² > 0.80, p-value

Suggested Citation

  • Pulbere (Ghelase) Carmen Cornelia & Neculita Mihaela, 2025. "Assessing The Impact Of Esg On Financial Performance: An Empirical Cross-Sectoral Study Of Sustainable Companies In Romania Using Regression Models," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 6, pages 435-450, December.
    • Handle: RePEc:cbu:jrnlec:y:2025:v:6:p:435-450
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    References listed on IDEAS

    as
    1. Meir Statman & Denys Glushkov, 2009. "The Wages of Social Responsibility," Financial Analysts Journal, Taylor & Francis Journals, vol. 65(4), pages 33-46, July.
    2. Ioannis Ioannou & George Serafeim, 2012. "What drives corporate social performance? The role of nation-level institutions," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 43(9), pages 834-864, December.
    3. Robert G. Eccles & Ioannis Ioannou & George Serafeim, 2014. "The Impact of Corporate Sustainability on Organizational Processes and Performance," Management Science, INFORMS, vol. 60(11), pages 2835-2857, November.
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