Examinando por Materia "ESG methodologies"

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    Ítem
    Relación entre la sostenibilidad empresarial y el desempeño financiero : un análisis de las empresas ASG del índice Nasdaq-100
    (Universidad EAFIT, 2023) López Ossa, David; Ríos Quintero, Adrián Fernando; Yepes Raigosa, David Alejandro
    This article analysis the composition of both ESG-rated and non-rated companies on the Nasdaq-100, by the end of 2021, and the relationship within the index, between the financial performance of each company and individual and combined ESG ratings, between 2017 and 2021. To achieve this, a breakdown of the ESG composition within the index and examines the relationship between financial performance, measured as ROA, ROE, Tobin's Q and ESG rating (both individual and combined) was conducted. The results obtained from ANOVA and OLS regression analysis indicate that the implementation of sustainability criteria (ESG) has a positive influence on the financial performance of companies, particularly when considering the combined ESG rating. Additionally, is observed that for a positive and meaningful relationship between most ESG ratings and internal profitability indicators (ROA and ROE), there is a positive and significant relationship in most of the ESG ratings, indicating that good sustainable practices can improve a firm's profitability. On the other hand, the market valuation (Tobin's Q) does not show significant relationships with ESG ratings, which show that, for companies in this sector, the market is possibly not willing to assume an extra premium for sustainability. Although the findings may suggest a connection between ESG criteria and profitability, it is essential to consider other elements that may contribute to this relationship, such as cash management, investment decisions, cost efficiency, and overall industry conditions.
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    Ítem
    Relación entre la sostenibilidad y la liquidez bancaria : un análisis de las empresas del Euro Stoxx Banks index
    (Universidad EAFIT, 2024) Valencia Uribe, Ana María; Duque Villegas, Juan Carlos; Yepes Raigosa, David Alejandro
    Liquidity management is crucial for banking stability, especially in the context of recurring crises. This research analyzes the relationship between ESG (environmental, social, and governance) criteria and liquidity indicators in European banks from the EURO STOXX Banks Index between 2003 and 2022. Using econometric models such as Ordinary Least Squares (OLS) and Generalized Least Squares (GLS), liquidity ratios like the Capital Adequacy Ratio (CAR), the Liquidity Coverage Ratio (LCR), and the Loan-to-Asset Ratio (LAR) were examined. The results reveal a positive relationship between ESG scores and bank liquidity, particularly in institutions with higher environmental and social sustainability ratings. However, the governance dimension showed a less significant impact. Additionally, significant differences were observed in liquidity levels between institutions with high and low ESG scores. Banks with higher ESG scores tend to maintain better capital ratios and a greater liquidity coverage capacity, suggesting that sustainable practices may be associated with more prudent and stable financial management.