When Environmental, Social, and Governance (ESG) Meets Shareholder Value: Unpacking the Long-Term Effects with a Multi-Period Difference-in-Differences (DID) Approach

When Environmental, Social, and Governance (ESG) Meets Shareholder Value: Unpacking the Long-Term Effects with a Multi-Period Difference-in-Differences (DID) Approach

As environmental, social, and governance (ESG) concerns increasingly shape corporate behavior, understanding their financial implications remains critical. This study investigates the impact of ESG performance on shareholder value, focusing on the mediating role of dividend policy. A multi-period di...

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Bibliographic Details
Main Authors: Yong Zhou, Wei Bu
Format: Article
Language:English
Published: MDPI AG 2025-04-01
Series:Systems
Subjects:
ESG performance
dividend policy
shareholder value
causal analysis
multi-period DID
Online Access:https://www.mdpi.com/2079-8954/13/5/315
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