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- Title
Nagyvállalatok pénzügyi teljesítményének és társadalmi felelősségvállalásának összefüggései Magyarországon.
- Authors
ÁRON, SZENNAY
- Abstract
The study examines relations between financial and sustainable performance among large Central and Eastern European companies through a sample of 95 from Hungary. It applies the Wilcoxon-Mann-Whitney test to the effect of non-financial performance proxies (sustainability disclosure and usage of sustainability-related standards such as ISO 9001, ISO 14001 and OHSAS 18001) on firms’ financial returns in 2014 and 2015. Evidence shows a significant positive relation between return-on-assets ratio (ROA) and usage of ISO 9001 and at least one of ISO 14001 and OHSAS 18001 standards, in the case of large non-listed firms. Usage of the ISO 9001 standard also has a significant positive effect on equity return using the net income (ROE) ratio. Nor does any finding show a significant relation between sustainability disclosure practices and financial returns. Based of these results, the author concludes that large Hungarian firms under-perform the sustainability activities of nearby Czech and Polish ones. The Hungarian ones are at a phase of adaptation of standards.
- Publication
Economic Review / Kozgazdasagi Szemle, 2018, Vol 65, p1281
- ISSN
0023-4346
- Publication type
Article
- DOI
10.18414/ksz.2018.12.1281