Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments February 11, 2020 erstellt
Beschreibung:
This study documents a significant and positive impact of country-level ESG improvement on economic growth using a comprehensive sample across 109 countries. The economic benefits of country-level ESG improvement are robust after alleviating endogeneity concerns using instrumental variable regression, dynamic panel GMM approach and placebo tests. Further, according to the subsample analyses, we find that the positive influence of country-level ESG improvement on economic growth is more pronounced in countries with a stronger incentive to improve ESG performance, and more powerful CSR responsive and law enforcement. Our findings provide policy implications for promoting sustainable economic growth