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Authors Hsiang-Hsuan Chih, Wen-Chuan Miao & Yun-Jie Lu Pages 133–153 Keywords ESG/CSR, Dividend payout policy, Financial performance |
How to Cite Chih, H.-H., Miao, W.-C., & Lu, Y.-J. (2024). Does ESG/CSR matter for dividend payouts? Analysis of global evidence. Management Review, 43(4), 133–153. https://doi.org/10.6656/MR.202410_43(4).ENG003
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Abstract
Purpose – Analyzing the association between ESG/CSR and dividend policy in global companies.
Design/methodology/approach – Regression modeling, channel analysis, and endogeneity analysis using Worldscope and Refinitiv’s ESG database.
Findings – The company’s participation in ESG/CSR environmental activities generates profits for the company and has a high dividend payout ratio, which is also recognized by investors in the market.
Research limitations/implications – Further research could test and expand the model in different geographical regions and explore organizational types in greater detail. Research on a particular platform could also be considered.
Practical implications/Social implications – The company should participate in environmental activities and develop environmentally friendly and innovative products to enhance financial performance.
Originality/value – Covering a 20-year sample of 33 countries around the world, in addition to the overall ESG score, it also analyses the Environmental, Social, and Governance scores to measure the ESG/CSR performance of a company to determine the impact on dividend policy and to understand investor evaluations.