Exploring environmental, social, and governance and bank performance in the Gulf Cooperation Council region
<p dir="ltr">Corporate strategies today are shaped by the increased importance given by companies, investors, and regulators to environmental, social, and governance (ESG) activities. This paper empirically investigated the impact of ESG on the performance of banks in the Gulf Cooper...
محفوظ في:
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| مؤلفون آخرون: | , |
| منشور في: |
2023
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إضافة وسم
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| _version_ | 1864513530469810176 |
|---|---|
| author | Jaywant Michael (17541642) |
| author2 | Antoine B. Awad (17541645) Bashar Abu Khalaf (17541639) |
| author2_role | author author |
| author_facet | Jaywant Michael (17541642) Antoine B. Awad (17541645) Bashar Abu Khalaf (17541639) |
| author_role | author |
| dc.creator.none.fl_str_mv | Jaywant Michael (17541642) Antoine B. Awad (17541645) Bashar Abu Khalaf (17541639) |
| dc.date.none.fl_str_mv | 2023-10-20T03:00:00Z |
| dc.identifier.none.fl_str_mv | 10.22495/clgrv5i2sip6 |
| dc.relation.none.fl_str_mv | https://figshare.com/articles/journal_contribution/Exploring_environmental_social_and_governance_and_bank_performance_in_the_Gulf_Cooperation_Council_region/24717309 |
| dc.rights.none.fl_str_mv | CC BY 4.0 info:eu-repo/semantics/openAccess |
| dc.subject.none.fl_str_mv | Commerce, management, tourism and services Accounting, auditing and accountability Banking, finance and investment Strategy, management and organisational behaviour ESG GCC Performance Panel Regression Asset Quality Loan Loss Provision |
| dc.title.none.fl_str_mv | Exploring environmental, social, and governance and bank performance in the Gulf Cooperation Council region |
| dc.type.none.fl_str_mv | Text Journal contribution info:eu-repo/semantics/publishedVersion text contribution to journal |
| description | <p dir="ltr">Corporate strategies today are shaped by the increased importance given by companies, investors, and regulators to environmental, social, and governance (ESG) activities. This paper empirically investigated the impact of ESG on the performance of banks in the Gulf Cooperation Council (GCC) region by collecting and analyzing the data of 29 banks located in the six GCC countries — namely the United Arab Emirates (UAE), Kuwait, Qatar, Oman, and Saudi Arabia. It studies data for the period 2010–2022 collected from the Refinitiv Eikon platform. Applying the ordinary least squares (OLS) and panel regression (fixed and random effect) techniques, it examines the impact of ESG on the performance of these banks. The significant Hausman test favored using the fixed effect results. The results suggest that a bank’s size positively influences its performance. The larger the bank the more diverse its ESG activities and the better its performance. Additionally, ESG and asset quality have a significant negative correlation to performance, implying a lower asset quality indicates higher loan loss provision and leads to lower financial performance. Finally, the results also suggest banks are overinvesting in ESG to comply with the latest standards set by investors and regulators.</p><h2>Other Information</h2><p dir="ltr">Published in: Corporate Law and Governance Review<br>License: <a href="https://creativecommons.org/licenses/by/4.0/" target="_blank">https://creativecommons.org/licenses/by/4.0/</a><br>See article on publisher's website: <a href="https://dx.doi.org/10.22495/clgrv5i2sip6" target="_blank">https://dx.doi.org/10.22495/clgrv5i2sip6</a></p> |
| eu_rights_str_mv | openAccess |
| id | Manara2_a492ac0c22a3f75d5eb36fec514975dc |
| identifier_str_mv | 10.22495/clgrv5i2sip6 |
| network_acronym_str | Manara2 |
| network_name_str | Manara2 |
| oai_identifier_str | oai:figshare.com:article/24717309 |
| publishDate | 2023 |
| repository.mail.fl_str_mv | |
| repository.name.fl_str_mv | |
| repository_id_str | |
| rights_invalid_str_mv | CC BY 4.0 |
| spelling | Exploring environmental, social, and governance and bank performance in the Gulf Cooperation Council regionJaywant Michael (17541642)Antoine B. Awad (17541645)Bashar Abu Khalaf (17541639)Commerce, management, tourism and servicesAccounting, auditing and accountabilityBanking, finance and investmentStrategy, management and organisational behaviourESGGCCPerformancePanel RegressionAsset QualityLoan Loss Provision<p dir="ltr">Corporate strategies today are shaped by the increased importance given by companies, investors, and regulators to environmental, social, and governance (ESG) activities. This paper empirically investigated the impact of ESG on the performance of banks in the Gulf Cooperation Council (GCC) region by collecting and analyzing the data of 29 banks located in the six GCC countries — namely the United Arab Emirates (UAE), Kuwait, Qatar, Oman, and Saudi Arabia. It studies data for the period 2010–2022 collected from the Refinitiv Eikon platform. Applying the ordinary least squares (OLS) and panel regression (fixed and random effect) techniques, it examines the impact of ESG on the performance of these banks. The significant Hausman test favored using the fixed effect results. The results suggest that a bank’s size positively influences its performance. The larger the bank the more diverse its ESG activities and the better its performance. Additionally, ESG and asset quality have a significant negative correlation to performance, implying a lower asset quality indicates higher loan loss provision and leads to lower financial performance. Finally, the results also suggest banks are overinvesting in ESG to comply with the latest standards set by investors and regulators.</p><h2>Other Information</h2><p dir="ltr">Published in: Corporate Law and Governance Review<br>License: <a href="https://creativecommons.org/licenses/by/4.0/" target="_blank">https://creativecommons.org/licenses/by/4.0/</a><br>See article on publisher's website: <a href="https://dx.doi.org/10.22495/clgrv5i2sip6" target="_blank">https://dx.doi.org/10.22495/clgrv5i2sip6</a></p>2023-10-20T03:00:00ZTextJournal contributioninfo:eu-repo/semantics/publishedVersiontextcontribution to journal10.22495/clgrv5i2sip6https://figshare.com/articles/journal_contribution/Exploring_environmental_social_and_governance_and_bank_performance_in_the_Gulf_Cooperation_Council_region/24717309CC BY 4.0info:eu-repo/semantics/openAccessoai:figshare.com:article/247173092023-10-20T03:00:00Z |
| spellingShingle | Exploring environmental, social, and governance and bank performance in the Gulf Cooperation Council region Jaywant Michael (17541642) Commerce, management, tourism and services Accounting, auditing and accountability Banking, finance and investment Strategy, management and organisational behaviour ESG GCC Performance Panel Regression Asset Quality Loan Loss Provision |
| status_str | publishedVersion |
| title | Exploring environmental, social, and governance and bank performance in the Gulf Cooperation Council region |
| title_full | Exploring environmental, social, and governance and bank performance in the Gulf Cooperation Council region |
| title_fullStr | Exploring environmental, social, and governance and bank performance in the Gulf Cooperation Council region |
| title_full_unstemmed | Exploring environmental, social, and governance and bank performance in the Gulf Cooperation Council region |
| title_short | Exploring environmental, social, and governance and bank performance in the Gulf Cooperation Council region |
| title_sort | Exploring environmental, social, and governance and bank performance in the Gulf Cooperation Council region |
| topic | Commerce, management, tourism and services Accounting, auditing and accountability Banking, finance and investment Strategy, management and organisational behaviour ESG GCC Performance Panel Regression Asset Quality Loan Loss Provision |