Title: Is ESG disclosure related to corporate performance? Empirical evidence from Indian companies

Authors: Preeti Sharma; Priyanka Panday; R.C. Dangwal

Addresses: DIT University, Makkawala, Dehradun, Uttarakhand, 248006, India ' Doon Business School, Dehradun, 248002, India ' Department of Commerce, H.N.B. Garhwal University, Uttarakhand, India

Abstract: The purpose of this work is to inspect the impact of non-financial disclosure (ESG) on corporate governance. The study examined 80 Indian companies listed at BSE for five years (2012-2016) with 400 observations. ESG disclosure and performance indicators such as operational performance (ROA), financial performance (ROCE) and market performance (MBV) are taken up as dependent and independent variable respectively with type of industry and company's size as control variables. The results indicate significant and positive impact of corporate performance measures on the level ESG disclosure. This study may be facilitative for corporate and statutory bodies in forming policies related to corporate disclosures, since its negligible presence in Indian corporate is quite evident from the literature.

Keywords: performance; Indian companies; ESG disclosures; annual reports; sustainability reports; environment; social; corporate governance; GRI framework; Clause 49 of Listing Agreement; ESGD index; return on assets; ROA; return on capital employed; ROCE; market to book value; MBV; ordinary least square; OLS.

DOI: 10.1504/IJBG.2024.137397

International Journal of Business and Globalisation, 2024 Vol.36 No.2/3, pp.186 - 200

Received: 11 Apr 2020
Accepted: 06 Aug 2020
Published online: 18 Mar 2024 *

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