| Title | Esg Rating Of Capital'S Effect On Firms' Financing Sources: A Case Study Of Asian Companies |
|---|---|
| ID_Doc | 67597 |
| Authors | Shalbayeva, S; Ismailov, T; Mitkov, M; Zamlynska, O; Khachatrian, V; Stratiichuk, V |
| Title | Esg Rating Of Capital'S Effect On Firms' Financing Sources: A Case Study Of Asian Companies |
| Year | 2024 |
| Published | Access-Access To Science Business Innovation In The Digital Economy, 5, 1 |
| Abstract | The study is aimed at presenting the relationship between corporate social responsibility (CSR) and the effect of the work of companies and areas of possible implementation in the largest Asian companies. Corporate social responsibility positively affects a company's business reputation and builds trust with customers who value improved financial performance. Objectives: The purpose of the study is to find any correlation between CSR and firm performance in Kazakhstan and allows for improvement of both the enterprise sustainable development management model and its assessment. Results: Analytical observation, monitoring, and comparison formed the basis of researching the CSR programs of selected companies. NPM, ROA, ROE, and NPM for leading Kazakh enterprises, the augmented Dickey-Fuller unit root test, and the Student's t-test indicate a correlation between CSR practices and NPM, which is an indicator of profitability. Kazakh companies show a connection between CSR practice and firm efficiency, but this only occurs through net profit margin. The analysis revealed a relatively weak quantitative relationship between the main indicators of stock market activity for companies and their net income. The results provide the basis for the hypothesis that business activity indicators in stock markets today are influenced not only by financial performance indicators. One of the key factors influencing companies' positions in stock market indices is their reputation (image) capital, which affects key indicators and ESG market ratings. Conclusions: Research data indicate the mixed impact of Corporate Social Responsibility (CSR) on corporate financial performance, with evidence of positive, negative, and insignificant relationships. Investing in CSR can enhance a company's value if certain thresholds are met. Companies are recommended to invest more in the social aspects of CSR to boost competitiveness and profitability. The results of the study are consistent with the theory and confirm the fact that CSR practices and firm performance are correlated. The association between CSR activities and financial performance was tested, and the results show that there is a positive correlation among those variables studied in Kazakhstan. The social responsibility of enterprises in Kazakhstan should be considered in two aspects: as a necessary cost item and as strategic reputational investments that contribute to the creation of a more sustainable global world and positively correlate with the financial position of the company. |
| https://journal.access-bg.org/journalfiles/journal/issue-5-1-2024/esg_rating_of_capital's_effect_on_firms'_financing_sources-a_case_study_of_asian_companies.pdf |
Similar Articles
| ID | Score | Article |
|---|---|---|
71497
|
Skare, M; Golja, T Corporate Social Responsibility And Corporate Financial Performance - Is There A Link?(2012) | |
| 74441
|
Berzon, NI; Novikov, MM; Pozharskaya, EL; Bakhturina, YI Monitoring the Modern Experience of Financial Risk Management in Russia Based on Corporate Social Responsibility for Sustainable Development(2022)Risks, 10, 5 | |
| 19072
|
Rajesh, R; Rajeev, A; Rajendran, C Corporate social performances of firms in select developed economies: A comparative study(2022) | |
| 75549
|
Juniarti Does mandatory CSR provide long-term benefits to shareholders?(2021)Social Responsibility Journal, 17, 6 | |
| 66405
|
Le, TT Corporate social responsibility and SMEs' performance: mediating role of corporate image, corporate reputation and customer loyalty(2023)International Journal Of Emerging Markets, 18, 10 | |
| 70579
|
Kovban, A; Kohut, I Formation Of A Corporate Social Responsibility Strategy Of Companies In Eu Countries(2019)Baltic Journal Of Economic Studies, 5, 3 | |
| 69096
|
Hasan, I; Singh, S; Kashiramka, S Does corporate social responsibility disclosure impact firm performance? An industry-wise analysis of Indian firms(2022)Environment Development And Sustainability, 24, 8 | |
| 73665
|
Lin, CH; Yang, HL; Liou, DY The impact of corporate social responsibility on financial performance: Evidence from business in Taiwan(2009)Technology In Society, 31, 1 | |
| 77255
|
Dash, A; Mohanty, SK The mediating effect of a firm's corporate reputation and sustainability practices in translating CSR into competitive performance in Indian ESG companies(2023)Society And Business Review, 18, 4 | |
| 77259
|
Hasudungan, A; Bhinekawati, R The effects of CSR disclosure on asymmetric information and RoI of publicly listed companies in SRI-Kehati index in Indonesia(2022)Corporate Governance-The International Journal Of Business In Society, 22, 7 |