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Automotive and Tire Sector: Sustainability as the New “Value” for Shareholders

In: Climate Change Adaptation, Governance and New Issues of Value

Author

Listed:
  • Carlo Bellavite Pellegrini

    (Catholic University of the Sacred Heart)

  • Raul Caruso

    (Catholic University of the Sacred Heart)

  • Rocco Cifone

    (Catholic University of the Sacred Heart)

Abstract

This chapter analyses the impact of ESG scores on firms’ profitability in the automotive sector between 2002 and 2016 for a novel dataset of European and North American listed firms. Results show that the environmental component of the ESG scores is positively associated with firms’ profitability. Among the components of overall ESG, the environmental score is the only one that exhibits the most robust association. Eventually when considering firm value proxied by means of Tobin’s Q, results show a negative association between the Tobin’s Q and the environmental component of ESG. Further estimations have highlighted a more nuanced evidence in particular with regard to profitability in terms of ROA.

Suggested Citation

  • Carlo Bellavite Pellegrini & Raul Caruso & Rocco Cifone, 2022. "Automotive and Tire Sector: Sustainability as the New “Value” for Shareholders," Palgrave Studies in Impact Finance, in: Carlo Bellavite Pellegrini & Laura Pellegrini & Massimo Catizone (ed.), Climate Change Adaptation, Governance and New Issues of Value, chapter 0, pages 155-184, Palgrave Macmillan.
    • Handle: RePEc:pal:psifcp:978-3-030-90115-8_8
    DOI: 10.1007/978-3-030-90115-8_8
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