{"id":"https://openalex.org/W4295117982","doi":"https://doi.org/10.1108/jgr-01-2022-0006","title":"Does it pay to deliver superior ESG performance? Evidence from US S&P 500 companies","display_name":"Does it pay to deliver superior ESG performance? Evidence from US S&P 500 companies","publication_year":2022,"publication_date":"2022-08-09","ids":{"openalex":"https://openalex.org/W4295117982","doi":"https://doi.org/10.1108/jgr-01-2022-0006"},"language":"en","primary_location":{"id":"doi:10.1108/jgr-01-2022-0006","doi":"https://doi.org/10.1108/jgr-01-2022-0006","is_oa":true,"landing_page_url":"https://doi.org/10.1108/jgr-01-2022-0006","pdf_url":"https://www.emerald.com/insight/content/doi/10.1108/JGR-01-2022-0006/full/pdf?title=does-it-pay-to-deliver-superior-esg-performance-evidence-from-us-sampp-500-companies","source":{"id":"https://openalex.org/S34975756","display_name":"Journal of Global Responsibility","issn_l":"2041-2568","issn":["2041-2568","2041-2576"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-c","anvur-scientific","cwts-core","fnege-4","jufo-1","norway-1","poland-20","russia-white-list-1"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Global Responsibility","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"hybrid","oa_url":"https://www.emerald.com/insight/content/doi/10.1108/JGR-01-2022-0006/full/pdf?title=does-it-pay-to-deliver-superior-esg-performance-evidence-from-us-sampp-500-companies","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5015126970","display_name":"Bejtush Ademi","orcid":"https://orcid.org/0000-0003-3131-1250","observed_orcids":["https://orcid.org/0000-0003-3131-1250"]},"institutions":[{"id":"https://openalex.org/I204778367","display_name":"Norwegian University of Science and Technology","ror":"https://ror.org/05xg72x27","country_code":"NO","type":"education","lineage":["https://openalex.org/I204778367"]}],"countries":["NO"],"is_corresponding":true,"raw_author_name":"Bejtush Ademi","raw_affiliation_strings":["Department of Mechanical and Industrial Engineering, Norwegian University of Science and Technology, Trondheim, Norway"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Mechanical and Industrial Engineering, Norwegian University of Science and Technology, Trondheim, Norway","institution_ids":["https://openalex.org/I204778367"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5058002360","display_name":"Nora Johanne Klungseth","orcid":"https://orcid.org/0000-0001-6695-3283","observed_orcids":["https://orcid.org/0000-0001-6695-3283"]},"institutions":[{"id":"https://openalex.org/I204778367","display_name":"Norwegian University of Science and Technology","ror":"https://ror.org/05xg72x27","country_code":"NO","type":"education","lineage":["https://openalex.org/I204778367"]}],"countries":["NO"],"is_corresponding":false,"raw_author_name":"Nora Johanne Klungseth","raw_affiliation_strings":["Department of Mechanical and Industrial Engineering, Norwegian University of Science and Technology, Trondheim, Norway"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Mechanical and Industrial Engineering, Norwegian University of Science and Technology, Trondheim, Norway","institution_ids":["https://openalex.org/I204778367"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5015126970"],"corresponding_institution_ids":["https://openalex.org/I204778367"],"apc_list":null,"apc_paid":null,"fwci":20.5323,"has_fulltext":true,"cited_by_count":134,"citation_normalized_percentile":{"value":0.99454578,"is_in_top_1_percent":true,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":93,"max":100},"biblio":{"volume":"13","issue":"4","first_page":"421","last_page":"449"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10115","display_name":"Corporate Social Responsibility Reporting","score":0.9984999895095825,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10115","display_name":"Corporate Social Responsibility Reporting","score":0.9984999895095825,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13146","display_name":"Sustainable Finance and Green Bonds","score":0.0003000000142492354,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13957","display_name":"Corporate Governance and Financial Management","score":0.00019999999494757503,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/esg-performance","display_name":"ESG performance","score":0.996999979019165},{"id":"https://openalex.org/keywords/financial-performance","display_name":"financial performance","score":0.9100000262260437},{"id":"https://openalex.org/keywords/market-valuation","display_name":"market valuation","score":0.8930000066757202},{"id":"https://openalex.org/keywords/esg-ratings","display_name":"ESG ratings","score":0.878000020980835},{"id":"https://openalex.org/keywords/return-on-capital-employed","display_name":"return on capital employed","score":0.8009999990463257},{"id":"https://openalex.org/keywords/tobin-s-q","display_name":"Tobin's Q","score":1.0},{"id":"https://openalex.org/keywords/s-p-500-firms","display_name":"S&P 500 firms","score":0.9399999976158142},{"id":"https://openalex.org/keywords/covid-19","display_name":"COVID-19 pandemic","score":0.9470000267028809},{"id":"https://openalex.org/keywords/sustainable-investing","display_name":"sustainable investment","score":0.7129999995231628},{"id":"https://openalex.org/keywords/non-financial-information","display_name":"non-financial information","score":0.7120000123977661}],"concepts":[{"id":"https://openalex.org/C2780148112","wikidata":"https://www.wikidata.org/wiki/Q1432581","display_name":"Proxy (statistics)","level":2,"score":0.6471608877182007},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.6226939558982849},{"id":"https://openalex.org/C186027771","wikidata":"https://www.wikidata.org/wiki/Q4008379","display_name":"Valuation (finance)","level":2,"score":0.6060388088226318},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5798686146736145},{"id":"https://openalex.org/C166052673","wikidata":"https://www.wikidata.org/wiki/Q83021","display_name":"Empirical evidence","level":2,"score":0.5389649868011475},{"id":"https://openalex.org/C202552767","wikidata":"https://www.wikidata.org/wiki/Q1901350","display_name":"Market value","level":2,"score":0.4845642149448395},{"id":"https://openalex.org/C185669311","wikidata":"https://www.wikidata.org/wiki/Q1163221","display_name":"Return on assets","level":3,"score":0.4707408845424652},{"id":"https://openalex.org/C120936955","wikidata":"https://www.wikidata.org/wiki/Q2155640","display_name":"Empirical research","level":2,"score":0.4476536512374878},{"id":"https://openalex.org/C143910263","wikidata":"https://www.wikidata.org/wiki/Q750458","display_name":"Capital market","level":2,"score":0.42226314544677734},{"id":"https://openalex.org/C141261163","wikidata":"https://www.wikidata.org/wiki/Q218600","display_name":"Corporate social responsibility","level":2,"score":0.4171856939792633},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.40062659978866577},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.37994980812072754},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.30217206478118896},{"id":"https://openalex.org/C129361004","wikidata":"https://www.wikidata.org/wiki/Q2470236","display_name":"Profitability index","level":2,"score":0.11097931861877441},{"id":"https://openalex.org/C18903297","wikidata":"https://www.wikidata.org/wiki/Q7150","display_name":"Ecology","level":1,"score":0.0},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C111472728","wikidata":"https://www.wikidata.org/wiki/Q9471","display_name":"Epistemology","level":1,"score":0.0},{"id":"https://openalex.org/C119857082","wikidata":"https://www.wikidata.org/wiki/Q2539","display_name":"Machine learning","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1108/jgr-01-2022-0006","doi":"https://doi.org/10.1108/jgr-01-2022-0006","is_oa":true,"landing_page_url":"https://doi.org/10.1108/jgr-01-2022-0006","pdf_url":"https://www.emerald.com/insight/content/doi/10.1108/JGR-01-2022-0006/full/pdf?title=does-it-pay-to-deliver-superior-esg-performance-evidence-from-us-sampp-500-companies","source":{"id":"https://openalex.org/S34975756","display_name":"Journal of Global Responsibility","issn_l":"2041-2568","issn":["2041-2568","2041-2576"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-c","anvur-scientific","cwts-core","fnege-4","jufo-1","norway-1","poland-20","russia-white-list-1"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Global Responsibility","raw_type":"journal-article"},{"id":"pmh:oai:ntnuopen.ntnu.no:11250/3037847","doi":null,"is_oa":true,"landing_page_url":"https://hdl.handle.net/11250/3037847","pdf_url":null,"source":{"id":"https://openalex.org/S7407064446","display_name":"NORA - Norwegian Open Research Archives","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Journal of Global Responsibility","raw_type":"info:eu-repo/semantics/article"}],"best_oa_location":{"id":"doi:10.1108/jgr-01-2022-0006","doi":"https://doi.org/10.1108/jgr-01-2022-0006","is_oa":true,"landing_page_url":"https://doi.org/10.1108/jgr-01-2022-0006","pdf_url":"https://www.emerald.com/insight/content/doi/10.1108/JGR-01-2022-0006/full/pdf?title=does-it-pay-to-deliver-superior-esg-performance-evidence-from-us-sampp-500-companies","source":{"id":"https://openalex.org/S34975756","display_name":"Journal of Global Responsibility","issn_l":"2041-2568","issn":["2041-2568","2041-2576"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-c","anvur-scientific","cwts-core","fnege-4","jufo-1","norway-1","poland-20","russia-white-list-1"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Global Responsibility","raw_type":"journal-article"},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4295117982.pdf","grobid_xml":"https://content.openalex.org/works/W4295117982.grobid-xml"},"referenced_works_count":69,"referenced_works":["https://openalex.org/W1004716736","https://openalex.org/W1495791839","https://openalex.org/W1558682892","https://openalex.org/W1985291470","https://openalex.org/W2005013362","https://openalex.org/W2033832725","https://openalex.org/W2037689620","https://openalex.org/W2040669847","https://openalex.org/W2058712972","https://openalex.org/W2059912207","https://openalex.org/W2060806362","https://openalex.org/W2061723020","https://openalex.org/W2066025955","https://openalex.org/W2077592191","https://openalex.org/W2080467767","https://openalex.org/W2099043095","https://openalex.org/W2112352537","https://openalex.org/W2117947489","https://openalex.org/W2141958938","https://openalex.org/W2156101376","https://openalex.org/W2164158771","https://openalex.org/W2177756622","https://openalex.org/W2211074832","https://openalex.org/W2247506531","https://openalex.org/W2340253618","https://openalex.org/W2340791987","https://openalex.org/W2509213230","https://openalex.org/W2522527316","https://openalex.org/W2529685411","https://openalex.org/W2560769988","https://openalex.org/W2588234720","https://openalex.org/W2593151889","https://openalex.org/W2594443529","https://openalex.org/W2606897492","https://openalex.org/W2609205219","https://openalex.org/W2755824993","https://openalex.org/W2757740984","https://openalex.org/W2769276865","https://openalex.org/W2786411123","https://openalex.org/W2810801192","https://openalex.org/W2882993812","https://openalex.org/W2883637167","https://openalex.org/W2898022268","https://openalex.org/W2898300106","https://openalex.org/W2912349856","https://openalex.org/W2930367865","https://openalex.org/W2949201664","https://openalex.org/W2954421714","https://openalex.org/W2991324751","https://openalex.org/W2996476899","https://openalex.org/W3013075527","https://openalex.org/W3026429624","https://openalex.org/W3028272755","https://openalex.org/W3033614480","https://openalex.org/W3084892112","https://openalex.org/W3092198243","https://openalex.org/W3097697435","https://openalex.org/W3121465167","https://openalex.org/W3123419065","https://openalex.org/W3124123998","https://openalex.org/W3128871793","https://openalex.org/W3179533132","https://openalex.org/W3182685666","https://openalex.org/W3187208210","https://openalex.org/W3187613489","https://openalex.org/W3196404482","https://openalex.org/W3207096011","https://openalex.org/W3207626185","https://openalex.org/W4221048944"],"related_works":["https://openalex.org/W7028135317","https://openalex.org/W4223544134","https://openalex.org/W3153941984","https://openalex.org/W7214312884","https://openalex.org/W4408694974","https://openalex.org/W6930576119","https://openalex.org/W7199624436","https://openalex.org/W7116602023","https://openalex.org/W7196988916","https://openalex.org/W4387672342"],"abstract_inverted_index":{"Purpose":[0],"The":[1,53,99,127],"purpose":[2],"of":[3,59,101,150,185,212,238],"this":[4,193,216],"paper":[5,25,39],"is":[6],"to":[7,82,93,123,157,172,219],"investigate":[8],"the":[9,28,66,95,102,120,147,158,176,190,235],"relationship":[10,29,167,199],"between":[11,30,200],"a":[12,34,84,88,135,144,151,197,204,239,248],"company\u2019s":[13,35,205,249],"environmental,":[14],"social":[15],"and":[16,20,33,56,68,87,115,140,164,203,241],"governance":[17],"(ESG)":[18],"performance":[19,32,48,111,139,163,166,202],"its":[21],"financial":[22,54,138,165],"performance.":[23],"This":[24,38,154],"also":[26],"investigates":[27],"ESG":[31,47,57,110,128,162,201,226],"market":[36,121,148,206],"valuation.":[37],"provides":[40],"convincing":[41],"empirical":[42,103,170],"evidence":[43,171],"that":[44,106,196,225,233,242],"delivering":[45],"superior":[46,109],"pays":[49],"off":[50],"financially.":[51],"Design/methodology/approach":[52],"data":[55],"scores":[58],"150":[60],"publicly":[61],"traded":[62],"companies":[63,107],"listed":[64],"in":[65,119,175,244],"Standard":[67],"Poor\u2019s":[69],"500":[70],"index":[71],"for":[72,137,146],"2017\u20132020,":[73],"comprising":[74],"5,750":[75],"observations,":[76],"were":[77],"collected.":[78],"STATA":[79],"was":[80],"used":[81],"run":[83],"fixed-effect":[85],"regression":[86],"weighted":[89],"least":[90],"squares":[91],"model":[92],"analyze":[94],"panel":[96],"data.":[97],"Findings":[98],"results":[100],"analysis":[104],"suggest":[105],"with":[108],"perform":[112],"better":[113],"financially":[114],"are":[116],"valued":[117],"higher":[118],"compared":[122],"their":[124],"industry":[125],"peers.":[126],"rating":[129],"score":[130],"impacts":[131,247],"both":[132],"return-on-capital-employed":[133],"as":[134,143],"proxy":[136,145],"Tobin\u2019s":[141],"Q":[142],"valuation":[149,207],"company.":[152],"Originality/value":[153],"study":[155,194,217],"contributes":[156,218],"existing":[159,177],"research":[160],"on":[161],"by":[168,180,189,223],"providing":[169],"resolve":[173],"confusion":[174],"literature":[178],"caused":[179,188],"contradictory":[181],"evidence.":[182],"Taking":[183],"advantage":[184],"worldwide":[186],"crisis":[187],"COVID-19":[191],"pandemic,":[192],"shows":[195],"positive":[198],"holds":[208],"even":[209],"during":[210],"times":[211],"unexpected":[213],"crises.":[214],"Further,":[215],"business":[220],"practitioners\u2019":[221],"knowledge":[222],"showing":[224],"aspects":[227],"constitute":[228],"highly":[229],"relevant":[230],"non-financial":[231],"information":[232],"impact":[234],"market\u2019s":[236],"perception":[237],"company":[240],"investing":[243],"sustainability":[245],"positively":[246],"bottom":[250],"line.":[251]},"counts_by_year":[{"year":2026,"cited_by_count":24},{"year":2025,"cited_by_count":48},{"year":2024,"cited_by_count":43},{"year":2023,"cited_by_count":17},{"year":2022,"cited_by_count":2}],"updated_date":"2026-10-22T18:32:59.640997","created_date":"2022-09-10T00:00:00"}
