N. Niccolò, E. Battisti, Armando Papa, N. Miglietta
{"title":"股东价值与股利政策:ESG策略的作用","authors":"N. Niccolò, E. Battisti, Armando Papa, N. Miglietta","doi":"10.1109/ICTMOD49425.2020.9380585","DOIUrl":null,"url":null,"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.","PeriodicalId":158303,"journal":{"name":"2020 IEEE International Conference on Technology Management, Operations and Decisions (ICTMOD)","volume":"30 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2020-11-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"5","resultStr":"{\"title\":\"Shareholder value and dividend policy: the role of ESG strategies\",\"authors\":\"N. Niccolò, E. Battisti, Armando Papa, N. Miglietta\",\"doi\":\"10.1109/ICTMOD49425.2020.9380585\",\"DOIUrl\":null,\"url\":null,\"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.\",\"PeriodicalId\":158303,\"journal\":{\"name\":\"2020 IEEE International Conference on Technology Management, Operations and Decisions (ICTMOD)\",\"volume\":\"30 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2020-11-24\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"5\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"2020 IEEE International Conference on Technology Management, Operations and Decisions (ICTMOD)\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1109/ICTMOD49425.2020.9380585\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"2020 IEEE International Conference on Technology Management, Operations and Decisions (ICTMOD)","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1109/ICTMOD49425.2020.9380585","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Shareholder value and dividend policy: the role of ESG strategies
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.
京公网安备 11010802042870号
京ICP备2023020795号-1
分享
求助内容：
应助结果提醒方式：
扫码关注我们
