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.
| Original language | English |
|---|---|
| Journal | Corporate Social Responsibility and Environmental Management |
| Volume | 27 |
| Issue number | 1 |
| Pages (from-to) | 232-243 |
| Number of pages | 12 |
| ISSN | 1535-3958 |
| DOIs | |
| Publication status | Published - 01.01.2020 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 12 Responsible Consumption and Production
Research areas and keywords
- Management studies
- corporate social responsibility
- financial performance
- social performance
- stakeholder-agency theory
- Sustainability sciences, Management & Economics
- environmental performanceq
- sustainability performance
ASJC Scopus Subject Areas
- Strategy and Management
- Development
- Management, Monitoring, Policy and Law
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