Corporate Esg Engagement and Information Asymmetry: the Moderating Role of Country-Level Institutional Differences

dc.authorid Bilyay Erdogan, Seda/0000-0001-6701-4448
dc.contributor.author Bilyay-Erdogan, Seda
dc.contributor.author Erdoğan, Seda
dc.contributor.other International Trade and Finance
dc.date.accessioned 2023-10-19T15:12:27Z
dc.date.available 2023-10-19T15:12:27Z
dc.date.issued 2022
dc.department-temp [Bilyay-Erdogan, Seda] Kadir Has Univ, Fac Management, Dept Int Finance & Trade, Istanbul, Turkey en_US
dc.description.abstract The purpose of this study is to examine: (i) the impact of corporate environmental, social, and governance (ESG) performance on asymmetric information and (ii) whether this relationship differs for countries with different legal and governance systems. Employing an extensive sample (covering 21 countries from Europe) for an extended time frame (2002-2019), we present evidence that overall corporate ESG performance reduces information asymmetry. Moreover, environmental, social, and governance pillars separately contribute to this significant relationship. Within the ten subcategories of the ESG score, only the emissions, workforce, human rights, product responsibility, and management scores significantly and negatively affect asymmetric information. We also present novel evidence that the inverse relationship between corporate ESG performance and information asymmetry is more pronounced in civil law and stakeholder-oriented countries, but not in common law and shareholder-oriented countries. Our findings demonstrate that firms' country-level institutional context moderates the association between ESG performance and information asymmetry. en_US
dc.identifier.citationcount 8
dc.identifier.doi 10.1080/20430795.2022.2128710 en_US
dc.identifier.issn 2043-0795
dc.identifier.issn 2043-0809
dc.identifier.scopus 2-s2.0-85139904132 en_US
dc.identifier.scopusquality Q1
dc.identifier.uri https://doi.org/10.1080/20430795.2022.2128710
dc.identifier.uri https://hdl.handle.net/20.500.12469/5451
dc.identifier.wos WOS:000865666900001 en_US
dc.institutionauthor Bilyay-Erdogan, Seda
dc.khas 20231019-WoS en_US
dc.language.iso en en_US
dc.publisher Routledge Journals, Taylor & Francis Ltd en_US
dc.relation.ispartof Journal of Sustainable Finance & Investment en_US
dc.relation.publicationcategory Makale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı en_US
dc.rights info:eu-repo/semantics/closedAccess en_US
dc.scopus.citedbyCount 18
dc.subject Social-Responsibility Disclosure
dc.subject Financial-Reporting Quality
dc.subject Stakeholder Engagement
dc.subject Environmental Performance
dc.subject Social-Responsibility Disclosure En_Us
dc.subject Nonfinancial Disclosure
dc.subject Financial-Reporting Quality En_Us
dc.subject Stakeholder Engagement En_Us
dc.subject Earnings Quality
dc.subject Environmental Performance En_Us
dc.subject Csr Performance
dc.subject Nonfinancial Disclosure En_Us
dc.subject Earnings Quality En_Us
dc.subject Market
dc.subject Csr Performance En_Us
dc.subject Cost
dc.subject Market En_Us
dc.subject ESG performance en_US
dc.subject Cost En_Us
dc.subject asymmetric information en_US
dc.subject Firm
dc.subject analyst forecast dispersion en_US
dc.subject Firm En_Us
dc.subject country-level institutional factors en_US
dc.title Corporate Esg Engagement and Information Asymmetry: the Moderating Role of Country-Level Institutional Differences en_US
dc.type Article en_US
dc.wos.citedbyCount 17
dspace.entity.type Publication
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