N. Niccolò, E. Battisti, Armando Papa, N. Miglietta
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引用次数: 5
Abstract
The aim of this paper is to test the impact of ESG strategies (Environmental, Social, and Governance) on firm’s dividend payout policy. In particular, analyzing Chinese listed companies through OLS analysis we found a general negative impact of ESG practices on dividend payout policies. We tested all three components of ESG strategies to understand how they can influence the firm’s decision between investments in sustainable and social practices or payment of liquidity to shareholders. Overall, our findings underlined that investment related to ESG has an impact on shareholders’ wealth decreasing the dividend payout.
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