Economic Policy Uncertainty, Stakeholder Engagement, and Environmental, Social, and Governance Practices: the Moderating Effect of Competition

dc.contributor.author Vural-Yavaş, Çiğdem
dc.contributor.author Vural Yavaş, Çiğdem
dc.contributor.other International Trade and Finance
dc.date.accessioned 2020-09-11T10:32:16Z
dc.date.available 2020-09-11T10:32:16Z
dc.date.issued 2020
dc.department Fakülteler, İşletme Fakültesi, Uluslararası Ticaret ve Finans Bölümü en_US
dc.description.abstract his paper investigates the effect of the economic policy uncertainty (EPU) on corporate environmental, social, and governance practices (ESG), using 6,562 firm-year observations from 15 developed European countries covering the period from 2004 to 2017. The results show that during periods of high uncertainty, firms increase their overall ESG performance, corporate environmental performance, and performance in governance. The relationship is valid for emission, resource use, workforce, management, and corporate social responsibility (CSR) strategy subdimensions of ESG. Furthermore, during periods of high uncertainty, firms operating in concentrated industries increase their overall ESG activities and corporate environmental performance. These results suggest that firms use ESG practices as risk-reducing activities like insurance, during high periods of uncertainty. Overall, consistent with the stakeholder theory, the results indicate that firms increase their ESG practices not only to reduce corporate risk-taking but also to follow value-increasing activities during periods of high uncertainty, implying an improved stakeholder engagement. en_US
dc.identifier.citationcount 62
dc.identifier.doi 10.1002/csr.2034 en_US
dc.identifier.issn 1535-3958 en_US
dc.identifier.issn 1535-3966 en_US
dc.identifier.issn 1535-3958
dc.identifier.issn 1535-3966
dc.identifier.scopus 2-s2.0-85089964772 en_US
dc.identifier.scopusquality Q1
dc.identifier.uri https://hdl.handle.net/20.500.12469/3382
dc.identifier.uri https://doi.org/10.1002/csr.2034
dc.identifier.wos WOS:000564109300001 en_US
dc.identifier.wosquality Q1
dc.institutionauthor Vural-Yavaş, Çiğdem en_US
dc.language.iso en en_US
dc.publisher Wiley en_US
dc.relation.journal Corporate Social Responsibility and Environmental Management en_US
dc.relation.publicationcategory Makale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı en_US
dc.rights info:eu-repo/semantics/openAccess en_US
dc.scopus.citedbyCount 129
dc.subject Competition en_US
dc.subject Economic policy uncertainty en_US
dc.subject Environmental en_US
dc.subject ESG en_US
dc.subject Europe en_US
dc.subject Governance performance en_US
dc.subject Social en_US
dc.subject Stakeholder engagement en_US
dc.title Economic Policy Uncertainty, Stakeholder Engagement, and Environmental, Social, and Governance Practices: the Moderating Effect of Competition en_US
dc.type Article en_US
dc.wos.citedbyCount 116
dspace.entity.type Publication
relation.isAuthorOfPublication a98d5070-be93-4d23-9841-bb36b264b0ba
relation.isAuthorOfPublication.latestForDiscovery a98d5070-be93-4d23-9841-bb36b264b0ba
relation.isOrgUnitOfPublication 16202dfd-a149-4884-98fb-ada5f8c12918
relation.isOrgUnitOfPublication.latestForDiscovery 16202dfd-a149-4884-98fb-ada5f8c12918

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