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The Role of ESG Factors in Improving Firm Financial Performance

Author

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  • Alexandra Danila

    (“Ovidius” University of Constanța, Faculty of Economic Sciences, Romania)

Abstract

The present research investigates the correlation between environmental, social, and governance (ESG) factors and financial performance, dissecting the impact of each element on a company's profitability. The study focuses on small and medium-sized enterprises (SMEs) situated in the SouthEast of Romania within the construction sector, spanning a five-year period (2016-2021). The empirical findings reveal a positive association between ESG practices and financial performance, pointing out that enhancing ESG initiatives could effectively improve profitability of SMEs.

Suggested Citation

  • Alexandra Danila, 2023. "The Role of ESG Factors in Improving Firm Financial Performance," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 688-693, December.
    • Handle: RePEc:ovi:oviste:v:xxiii:y:2023:i:2:p:688-693
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    Cited by:

    1. Mirela Sichigea & Laura Vasilescu & Lauren?iu Mihai & Catalina Sitnikov, 2025. "Modeling ESG Relationships with the Employability-Operational Growth-Profitability Trilogy in the European Food System," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 27(69), pages 329-329, April.

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    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General

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