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Unpacking the sustainability of sovereign wealth funds. The effect of financial performances on sustainability disclosure

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  • Domenico Graziano
  • Domitilla Magni

Abstract

This paper investigates the effects of sovereign wealth funds (SWFs) on the competitiveness of target companies by analysing whether the financial performance of target companies affects the sustainability disclosures by SWFs. To test our research hypotheses, a sample of 11 international SWFs was explored by multiple regression analysis. The study suggests a moderating effect owing to the size variable in the relation between firms' values and SWFs' sustainability disclosures. Findings support all the hypotheses of the study and provide relevant insights for scholars, managers, and policymakers who are interested in discovering the connection between sustainability disclosures by SWFs and company performance. Furthermore, the study contributes to extend the literature on SWFs and sustainability disclosure, offers original solutions for regulators and practitioners, and fills the gaps existing in previous studies that ignored the moderating role of company size in the relation between firms' performance and SWFs' sustainability disclosures.

Suggested Citation

  • Domenico Graziano & Domitilla Magni, 2022. "Unpacking the sustainability of sovereign wealth funds. The effect of financial performances on sustainability disclosure," International Journal of Managerial and Financial Accounting, Inderscience Enterprises Ltd, vol. 14(2), pages 157-183.
    • Handle: RePEc:ids:injmfa:v:14:y:2022:i:2:p:157-183
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    Cited by:

    1. Gangi, Francesco & Mustilli, Mario & Varrone, Nicola & Graziano, Domenico, 2023. "Target firms’ characteristics and the effects of sovereign wealth funds’ investments: Does cultural context of SWFs matter?," Research in International Business and Finance, Elsevier, vol. 65(C).

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