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The Impact of Voice and Accountability in the ESG Framework in a Global Perspective

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  • Costantiello, Alberto
  • Leogrande, Angelo

Abstract

We estimate the value of Voice and Accountability-VA in the context of the Environmental, Social and Governance-ESG data of the World Bank using data from 193 countries in the period 2011-2021. We use Panel Data with Fixed Effects, Panel Data with Random Effects and Pooled Ordinary Least Squares-OLS. We found that the level of VA is positively associated, among others, to “Maximum 5-Day Rainfall”, and “Mortality Rate Under 5” and negatively associated, among others, to “Adjusted Savings: Natural Resources Depletion”, and “Annualized Average Growth Rate in Per Capita Real Survey Mean Consumption or Income”. Furthermore, we apply the k-Means algorithm optimized with the Elbow Method. We found the k-Means useless due to the low variance of the variable among countries with the result of a hyper-concentration of elements in a unique cluster. Finally, we confront eight machine-learning algorithms for the prediction of VA. Polynomial Regression is the best predictive algorithm according to R-Squared, MAE, MSE and RMSE. The level of VA is expected to growth on average of 2.92% for the treated countries.

Suggested Citation

  • Costantiello, Alberto & Leogrande, Angelo, 2023. "The Impact of Voice and Accountability in the ESG Framework in a Global Perspective," MPRA Paper 116805, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:116805
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    Cited by:

    1. Costantiello, Alberto & Leogrande, Angelo, 2023. "The Role Of Gdp Growth In The Esg Approach At World Level," SocArXiv r56hu, Center for Open Science.
    2. Costantiello, Alberto & Leogrande, Angelo, 2023. "The Role of Political Stability in the Context of ESG Models at World Level," MPRA Paper 116887, University Library of Munich, Germany.
    3. Leogrande, Angelo & Costantiello, Alberto, 2023. "The Impact of Government Expenditure on Education in the ESG Models at World Level," MPRA Paper 117216, University Library of Munich, Germany.

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    More about this item

    Keywords

    Analysis of Collective Decision-Making; General; Political Processes: Rent-Seeking; Lobbying; Elections; Legislatures; and Voting Behaviour; Bureaucracy; Administrative Processes in Public Organizations; Corruption; Positive Analysis of Policy Formulation; Implementation.;
    All these keywords.

    JEL classification:

    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • D73 - Microeconomics - - Analysis of Collective Decision-Making - - - Bureaucracy; Administrative Processes in Public Organizations; Corruption
    • D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation

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