Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments May 31, 2023 erstellt
Description:
This paper examines the interactive relationship among environmental, social and governance (ESG) capital, financial capital, innovation capital, manufacturing capital and corporate financial performance. The findings indicate that ESG capital positively affects financial performance in the short and long term; however, the relationship presents nonlinear patterns, and the more a firm can invest in ESG capital, the longer the value-creation process is sustained. Investment in ESG capital can also positively influence other tangible and intangible forms of capital, such as financial, innovation and manufacturing capitals, to improve financial returns. Our study contributes to the understanding of the value of ESG capital and investment practices based on corporate ESG factors