Relationship between Environmental, Social, and Governance Factors and Financial Performance in Central European Countries

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dc.contributor.authorStrýčková, Lenka
dc.contributor.authorBrabec, Zdeněk
dc.contributor.authorMatoušková, Michaela
dc.contributor.otherEkonomická fakultacs
dc.date.accessioned2023-09-27T12:41:03Z
dc.date.available2023-09-27T12:41:03Z
dc.description.abstractMeasuring financial business performance is a key assumption for the responsible management of a company. Traditionally, financial measures were mainly used, but in recent years the importance of non-financial measures has increased pronouncedly. Currently, companies are encouraged to reflect on their business’s sustainability aspect. One way of measuring sustainability performance can be a company’s ESG score. This article aims to analyse the relationship between a traditional financial performance measure (return on sales) and a modern measure (ESG score) in Central European countries. The research sample consists of two groups. The first contains 74 companies from the Visegrad Group countries (V4), and the second consists of 214 companies from Germany and Austria. The relationship between those two measures was studied using the Spearman rank order correlation coefficient. Subsequently, the amount of the ESG score was analysed in both of the groups. The research findings indicate no or weak relationship between the ROS and ESG score. However, based on the Levene’s F-test, a statistically significant difference was also identified between the two country groups considering the amount of the ESG score.en
dc.formattext
dc.identifier.doi10.15240/tul/009/lef-2023-41
dc.identifier.isbn978-80-7494-627-1
dc.identifier.urihttps://dspace.tul.cz/handle/15240/172857
dc.language.isoen
dc.publisherTechnická Univerzita v Libercics
dc.publisherTechnical university of Liberec, Czech Republicen
dc.publisher.abbreviationTUL
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dc.relation.ispartofLiberecké ekonomické fórum 2023cs
dc.relation.ispartofLiberec Economic Forum 2023en
dc.subjectESG factorsen
dc.subjectfinancial performanceen
dc.subjectreturn on salesen
dc.subjectsustainabilityen
dc.subject.classificationM14
dc.subject.classificationG30
dc.subject.classificationM21
dc.titleRelationship between Environmental, Social, and Governance Factors and Financial Performance in Central European Countriesen
dc.typeproceeding paperen
local.accessopen
local.citation.epage384
local.citation.spage378
local.facultyFaculty of Economics
local.fulltextyes
local.relation.abbreviationLEFcs
local.relation.abbreviationLEFen
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