We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
Exploring the Relationship between Corporate Governance, Corporate Social Responsibility and Financial and Non-Financial Reporting: A Study of Large Companies in Greece.
- Authors
Pagkalou, Foteini I.; Galanos, Christos L.; Thalassinos, Eleftherios I.
- Abstract
Academics and professionals alike are highly interested in Corporate Social Responsibility (CSR), Corporate Governance (CG), environmental, social, and governance (ESG) and corporate non-financial reporting (CNFR) and how they can improve a brand's reputation, financial efficiency, and sustainability within businesses and organisations. The main objective of our study was to examine whether the financial data of large companies can be correlated with the data in their non-financial reports and provide information on the level of corporate governance and corporate responsibility and to examine the correlation between them. For this purpose, we conducted research by examining the 100 largest companies in Greece, over a period of 3 years, collecting both financial and non-financial data from their official reports. Using appropriate quantitative tools such as similarity, classification and econometric methods (stepwise method and panel least-squares method), the correlations between the data for CSR, CG and non-financial actions and key financial performance ratios are evaluated. Our research has revealed a strong link between financial performance and ESG actions of large companies and, in particular, we demonstrated the positive correlation of CSR performance with their total assets and whether they are listed on the stock exchange, and of CG with CSR and EBITDA. This study adds to the existing academic discourse on the relationship between financial and non-financial information of corporations in the areas of Corporate Responsibility and Governance and provides a valuable way to assess the decisions of businesses.
- Subjects
GREECE; CORPORATE governance; FINANCIAL statements; SOCIAL responsibility of business; CORPORATE image; CORPORATION reports; REPUTATION; FINANCIAL ratios; ACADEMIC discourse; EBITDA (Accounting)
- Publication
Journal of Risk & Financial Management, 2024, Vol 17, Issue 3, p97
- ISSN
1911-8066
- Publication type
Article
- DOI
10.3390/jrfm17030097