DISCLOSURE OF THE ESG SCORE AND COMPANIES’ SUSTAINABILITY
Zverejňovanie ESG skóre a udržateľnosť podnikov
Published: 17.11.2025
https://doi.org/10.24040/aap.2025.22.spec.iss.12-17
Abstract: This study provides valuable insights into the connection between subsets of ESG performance measures and both corporate financial and market-based performance. Findings derived from a regression analysis utilizing longitudinal data, long panel, revealed no significant correlation among composite ESG measures. Consequently, drawing from a decade's worth of data on global car manufacturers, we examined the variances in specific dependent and independent variables that illustrate a short-term significant negative impact of Environmental performance on financial performance, specifically Return on Assets. A long-term positive significance within the market-based measure, represented by Tobin's Q, was observed solely within the Governance subset of the ESG score, highlighting the relevance of this dimension within our dataset, which pertains to the automotive sector.
Keywords: ESG disclosure, financial performance, market-based performance
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How to cite:
GLOVA, J. Disclosure of the ESG score and companies´ sustainability. Acta aerarii publici. Online. vol. 22 (2025), special issue, pp. 12 – 17. Available from: https://doi.org/10.24040/aap.2025.22.spec.iss.12-17 [accessed YYYY-MM-DD].