IDEAS home Printed from https://ideas.repec.org/a/idn/jimfjn/v9y2023i1fp107-132.html
   My bibliography  Save this article

Environmental, Social, Governance Investing, Covid-19, And Corporate Performance In Muslim Countries

Author

Listed:
  • Hasan Tekin

    (University of Karabuk, Turkey)

  • Fatih Güçlü

    (University of Karabuk, Turkey)

Abstract

We examine the impact of Environment, Social, and Governance–ESG investing on corporate performance of non-financial firms in Muslim countries during the pandemic. Employing the random effect panel model with 1,546 firm-year observations, we find that the ESG combined score and its pillars have significant influence on corporate performance during the COVID-19 period. Namely, the performance of firms with higher ESG is relatively less affected as compared to the performance of firms with lower ESG. We also note that firms in Malaysia and the United Arab Emirates with high ESG have better operational (financial) performance. Finally, from the sectorial perspective, health care and energy (consumer staples) firms with higher ESG have higher operational (financial) performance during the pandemic.

Suggested Citation

  • Hasan Tekin & Fatih Güçlü, 2023. "Environmental, Social, Governance Investing, Covid-19, And Corporate Performance In Muslim Countries," Journal of Islamic Monetary Economics and Finance, Bank Indonesia, vol. 9(1), pages 107-132, March.
    • Handle: RePEc:idn:jimfjn:v:9:y:2023:i:1f:p:107-132
    DOI: https://doi.org/10.21098/jimf.v9i1.1592
    as

    Download full text from publisher

    File URL: https://jimf-bi.org/index.php/JIMF/article/view/1592/931
    Download Restriction: no
    File URL: https://libkey.io/https://doi.org/10.21098/jimf.v9i1.1592?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    Disclosure; ESG; Islamic; Pandemic; Sustainability;
    All these keywords.

    JEL classification:

    • D10 - Microeconomics - - Household Behavior - - - General
    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • Z12 - Other Special Topics - - Cultural Economics - - - Religion

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:idn:jimfjn:v:9:y:2023:i:1f:p:107-132. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Lutzardo Tobing or Jimmy Kathon (email available below). General contact details of provider: https://edirc.repec.org/data/bigovid.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.