WIMAYA: Interdisciplinary Journal of International Affairs
Vol 2 No 01 (2021)

Environmental, Social, and Governance Investment in Emerging Markets: A Case Study of Firms in Southeast Asia

Upalat Korwatanasakul (Institute for the Advanced Study of Sustainability, United Nations Universtiy)
Adam Majoe (Asian Development Bank Institute)

Article Info

Publish Date
01 Jun 2021

Abstract

This study examines the current situation of environmental, social, and governance (ESG) investment in Association of Southeast Asian Nations (ASEAN) countries. Based on a purposive sampling, our sample includes 143 leading firms from 10 ASEAN countries. By intensively reviewing firms’ multiyear annual and sustainability reports, we utilize content analysis to identify the characteristics of ESG firms (firms considering ESG factors in their investment decision-making process). Our result shows that ESG firms, on average, have higher profitability. Moreover, ESG investment helps lower costs and boost revenue and profits. However, ESG investment has only been implicitly and unsystematically implemented in ASEAN firms.

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Journal Info
WIMAYA: Interdisciplinary Journal of International Affairs
Website

Abbrev

wimaya

Publisher

Universitas Pembangunan Nasional Veteran Jawa Timur

Subject

Humanities Economics, Econometrics & Finance Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Social Sciences

Description

WIMAYA is an international scholarly journal devoted to international affairs. Published twice a year by the International Relations Department, Pembangunan Nasional Veteran East Java University, the journal aims to promote the importance of interdisciplinary approach to analyze various ...