The curvilinear and time-lagging impact of sustainability performance on financial performance: Evidence from Germany

Claudio Nuber; Patrick Velte; Jacob Hörisch

doi:10.1002/csr.1795

The curvilinear and time-lagging impact of sustainability performance on financial performance: Evidence from Germany

Claudio Nuber
, Patrick Velte
, Jacob Hörisch

Professur für Betriebswirtschaftslehre, insb. Accounting, Auditing & Corporate Governance

Leuphana Universität Lüneburg

Publikation: Beiträge in Zeitschriften › Zeitschriftenaufsätze › Forschung

75 Zitate (Scopus)

Abstract

Based on the stakeholder-agency theory, this study empirically investigates the impact of sustainability performance on financial performance. We rely on a sample from the German DAX30, MDAX, and TecDAX from 2008 to 2017. In contrast to former studies concentrating on the German market that tested a direct linear relationship between sustainability performance and financial performance, a time-lagging and curvilinear regression analysis was carried out, and evidence of a U-shaped relationship was found. This implies that sustainability management aiming at increasing financial performance should proactively strive for very high levels of corporate sustainability to meet the needs of investors and further stakeholders.

Originalsprache	Englisch
Zeitschrift	Corporate Social Responsibility and Environmental Management
Jahrgang	27
Ausgabenummer	1
Seiten (von - bis)	232-243
Seitenumfang	12
ISSN	1535-3958
DOIs	https://doi.org/10.1002/csr.1795
Publikationsstatus	Erschienen - 01.01.2020

UN SDGs

Dieser Output leistet einen Beitrag zu folgendem(n) Ziel(en) für nachhaltige Entwicklung

SDG 12 – Verantwortungsvoller Konsum und Produktion

Fachgebiete und Schlagwörter

Betriebswirtschaftslehre
Wirtschaftswissenschaften für Nachhaltigkeit

ASJC Scopus Sachgebiete

Strategie und Management
Entwicklung
Management, Monitoring, Politik und Recht

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10.1002/csr.1795

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abstract = "Based on the stakeholder-agency theory, this study empirically investigates the impact of sustainability performance on financial performance. We rely on a sample from the German DAX30, MDAX, and TecDAX from 2008 to 2017. In contrast to former studies concentrating on the German market that tested a direct linear relationship between sustainability performance and financial performance, a time-lagging and curvilinear regression analysis was carried out, and evidence of a U-shaped relationship was found. This implies that sustainability management aiming at increasing financial performance should proactively strive for very high levels of corporate sustainability to meet the needs of investors and further stakeholders.",

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AB - Based on the stakeholder-agency theory, this study empirically investigates the impact of sustainability performance on financial performance. We rely on a sample from the German DAX30, MDAX, and TecDAX from 2008 to 2017. In contrast to former studies concentrating on the German market that tested a direct linear relationship between sustainability performance and financial performance, a time-lagging and curvilinear regression analysis was carried out, and evidence of a U-shaped relationship was found. This implies that sustainability management aiming at increasing financial performance should proactively strive for very high levels of corporate sustainability to meet the needs of investors and further stakeholders.

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The curvilinear and time-lagging impact of sustainability performance on financial performance: Evidence from Germany

Abstract

UN SDGs

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ASJC Scopus Sachgebiete

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