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Analysis of the Effect of the ESG Score on Bank Profitability in the ASEAN Region (Indonesia, Malaysia, Thailand, Vietnam, and Philippines) Before and During the COVID-19 Pandemic

In: Proceedings of the International Conference on Economics, Management, and Accounting (ICEMAC 2022)

Author

Listed:
  • Huzaifah Ar Rasyid

    (University of Indonesia, Faculty of Economics and Business)

  • Cynthia Afriani Utama

    (University of Indonesia, Faculty of Economics and Business)

Abstract

We examine the relationship between environmental, social, and governance (ESG) score and bank profitability. Our sample includes over the period 2018–2021 from 5 ASEAN countries (Indonesia, Malaysia, Thailand, Vietnam and Philippines). We employ System Generalized Method of Moments (GMM) estimation to control for endogeneity. Environmentally friendly activities have the greatest effect on bank value. We examine the channels through which ESG activity impacts bank profitability and explain why proponents of both stakeholder theory and trade-off theory have found evidence to support their predictions of the relationship between ESG activity and bank value.

Suggested Citation

  • Huzaifah Ar Rasyid & Cynthia Afriani Utama, 2023. "Analysis of the Effect of the ESG Score on Bank Profitability in the ASEAN Region (Indonesia, Malaysia, Thailand, Vietnam, and Philippines) Before and During the COVID-19 Pandemic," Advances in Economics, Business and Management Research, in: Prasetyo Hartanto (ed.), Proceedings of the International Conference on Economics, Management, and Accounting (ICEMAC 2022), pages 162-166, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-226-2_14
    DOI: 10.2991/978-94-6463-226-2_14
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