ABSTRACT

This study investigates the worldwide impact of sustainability reporting on firms' performance across seven different sectors. Using data culled from 3,000 firms in 80 different countries for ten years from 2008 to 2017 (cumulatively 23,738 observations). The findings elicited from the empirical results demonstrate that there are differences in the impact of sustainability reporting (ESG) on firm's operational performance (ROA), financial performance (ROE) and market performance (TQ) between the seven sectors. Inasmuch as it contributes to the literature of sustainability accounting by a systematic depiction of cross-sectorial ESG reporting, this study establishes a benchmark to guide to firms wishing to adopt sustainability reporting. Moreover, in including macroeconomic variables, the study provides a fresh perspective to the literature of the on the economic implications of sustainability disclosure.

摘要

本研究调查了可持续发展报告对七个不同行业的公司绩效的全球影响。使用从 2008 年到 2017 年十年间从 80 个不同国家的 3,000 家公司中挑选出来的数据（累计 23,738 次观察）。从实证结果中得出的结果表明，可持续发展报告（ESG）对企业运营绩效（ROA）、财务绩效（ROE）和市场绩效（TQ）的影响在七个部门之间存在差异。由于它通过系统描述跨部门 ESG 报告为可持续发展会计文献做出了贡献，因此本研究建立了一个基准来指导希望采用可持续发展报告的公司。此外，在纳入宏观经济变量时，