ESG and financial performance: aggregated evidence from more than 2000 empirical studies

By G. Friede, Timo Busch, Alexander Bassen. 2015

3,716 citations recorded by the source corpus.

Subfields: Building and Construction, Marketing, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/109697dcac3a9886d5df2b700e1b4de9a63d77e2

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Building and Construction

1. O. Weber
2. Moinak Maiti
3. Mehdi Nekhili
4. Sergio Manrique
5. Serife Zihni Eyupoglu
6. Isabel‐María García‐Sánchez
7. Jennifer Martínez‐Ferrero
8. Carmen‐Pilar Martí‐Ballester

In Marketing

1. Timo Busch
2. O. Weber
3. Moinak Maiti
4. Sergio Manrique
5. Carmen‐Pilar Martí‐Ballester
6. Jennifer Martínez‐Ferrero
7. M. Staunton
8. P. Marsh

In Strategy and Management

1. Jennifer Martínez‐Ferrero
2. Isabel‐María García‐Sánchez
3. Timo Busch
4. F. Mango
5. O. Weber
6. Zhichuan Frank Li
7. Moinak Maiti
8. S. Kim

Citations in the corpus

• Sensitive industries produce better ESG performance: Evidence from emerging markets (2017, background): “Third, since the 1970s most studies have pointed to a positive ESG-CFP correlation (Friede et al., 2015), but there is no agreement that sensitive industries always entail low ESG performance (Statman and Glushnov, 2009; Hong and Kacperczyk, 2009).”
• Sustainable entrepreneurship orientation (2018, neutral): “contribute a literature review of over 2000 studies, just on the topic of financial performance of Environmental, Sustainable, and Green (ESG) investments [2].”
• Corporate sustainability and financial performance of Chinese banks (2017, result): “On the other hand, the results support the good management theory (Waddock & Graves, 1997) claiming that corporate social performance influences financial performance positively (Friede et al., 2015).”
• Is ESG the succeeding risk factor? (2020, result): “Most of the earlier studies (Clark, Feiner, and Viehs 2015; Friede, Busch, and Bassen 2015; Kleine, Krautbauer, and Weller 2013) find a positive relationship between the ESG and organisations’ financial performance.”
• ESG and reputation: The case of sanctioned Italian banks (2020, result): “…and corporate sustainability in order to determine whether the adoption of the three ESG factors can increase corporate profitability or not; Friede, Busch, and Bassen (2015) – through a study which combined the results of more than 2000 empirical studies – conclude that 90% of academic…”
• ESG performance and market value: the moderating role of employee board representation (2019, background): “Indeed, the value relevance of ESG pillars depends on the specific type of performance provided (Friede et al., 2015; Marsat & Williams, 2014; Qiu et al., 2016).”
• The Effect of Environmental, Social and Governance Consistency on Economic Results (2016, background): “This study explores EU-15 members given the potential differences across regions in the ESG-EP relations [24].”