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Sustainable Business

Sustainability in Press

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Note: "Although it’s true that some researchers have found a relationship between ESG performance and financial returns, thus far they've merely established correlation. We don’t actually know if strong ESG performance causes better returns, or if both are a function of good management" (Parker 2021).


Berg, F., Koelbel, J. F., & Rigobon, R. (2019). Aggregate confusion: The divergence of ESG ratings. Review of Finance

  •   903 Google Scholar citations (February 2023)

Garcia, A. S., Mendes-Da-Silva, W., & Orsato, R. J. (2017). Sensitive industries produce better ESG performance: Evidence from emerging markets. Journal of Cleaner Production, 150, 135-147.

  •   378 Google Scholar citations (February 2023)

Latapí Agudelo, M. A., Jóhannsdóttir, L., & Davídsdóttir, B. (2019). A literature review of the history and evolution of corporate social responsibility. International Journal of Corporate Social Responsibility, 4(1), 1-23.

  •   701 Google Scholar citations (February 2023)

Xie, J., Nozawa, W., Yagi, M., Fujii, H., & Managi, S. (2019). Do environmental, social, and governance activities improve corporate financial performance?. Business Strategy and the Environment, 28(2), 286-300.

  •   311 Google Scholar citations (February 2023)

Yu, E. P. Y., Van Luu, B., & Chen, C. H. (2020). Greenwashing in environmental, social and governance disclosures. Research in International Business and Finance, 52, 101192.

  •   142 Google Scholar citations (February 2023)