Does Sustainability Affect Corporate Performance and Economic Development? Evidence from the Asia-Pacific region and North America

Sustainability

Kyungbok Kim¹  Sang-Myung Lee² 

[1] Department of Economics, Auburn University, Auburn, AL 36849, USA;School of Business, Hanyang University, Seoul 04763, South Korea;

关键词: sustainability;    sustainable investment;    corporate performance;    economic development;    VAR;    and VECM;   

DOI  :  10.3390/su10040909

来源: DOAJ

【 摘 要 】

This paper explores how sustainability influences financial returns and economic development in the Asia-Pacific region and North America, utilizing real data empirically. It is controversial that sustainable activities are related to financial performance. For clarification, we tested hypotheses analyzing sustainability index, seven stock markets, financial data such as ROI, ROIC, and ROA from eleven companies, and GDP/GNI per capita, based on the Asia-Pacific region and North America. The results indicate that both financial return for companies and economic development in the two regions are positively germane to sustainable investment. Besides, we found evidence that sustainable investment impacts economic development based on variance decomposition analysis, depending on GDP per capita between the two regions. This implication will be interesting for both practitioners and researchers regarding the measurement of sustainable performance.

【 授权许可】

Unknown