SACM - United Kingdom
Permanent URI for this collectionhttps://drepo.sdl.edu.sa/handle/20.500.14154/9667
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Item Restricted The Impact of Environmental, Social, and Governance (ESG) Factors on Firm Financial Performance: An Empirical Study of Non-Financial Constituents of the S&P 500(University of Liverpool, 2024-09) Fallatah, Ahmed Zaki; Giorgioni, GianluigiAbstract This study empirically examines the influence of Environmental, Social, and Governance (ESG) factors on financial performance of non-financial firms listed on the S&P 500. It analyzes data for 425 firms over the period from 2010 to 2023. This research study apply panel data analysis using Generalized Least Squares (GLS) Regression and reveals a significant and positive relationship between overall ESG scores and Corporate financial performance metrics, Return on Equity, Return on Assets and Tobin's Q for current S&P 500 firms. For the firms that were removed from the index, while ESG scores significantly enhance Tobin's Q in terms of market evaluation and their impact on financial measurement is less pronounced. The analysis highlights that environmental scores influence financial outcomes across both current and dropped firms. Social scores positively affect financial performance in current firms but show limited impact for firms removed from the index. Governance scores appear to have a more nuanced impact, suggesting that good governance alone may not be enough to differentiate performance among firms. The study shows the importance of robust ESG practices, particularly in environmental and social pillars, for enhancing corporate financial success and market valuation. The firm’s market position and financial health may influence the relationship between ESG factors and immediate financial returns. The research shows that ESG investments can boost a market position of company and resilience and their direct impact on immediate financial returns can vary depending on the company’s financial health and market status. Therefore, this study reveals the complex relationship between ESG practices and financial performance. The findings provide useful valuable insights for business leaders, investors, and policymakers looking to align ESG practices with financial goals and foster sustainable, long-term growth.44 0Item Restricted THE RELATIONSHIP BETWEEN ESG AND FINANCIAL PERFORMANCE OF UK FTSE 250 LISTED FIRMS.(University of Sussex, 2024-09) Alhuqayl, Nouf; Hawas, AmiraIn this dissertation, the relationship between the Environmental, Social and Governance (ESG) principles in relation to the financial performance of FTSE 250 companies pre-and during COVID-19 was studied. Utilizing data from Bloomberg and to conduct regression panel models with fixed and random effects, a Hausman test was performed in order to choose the most effective model. The study reveals that ESG including its sub-dimension exhibit minimal influence on financial outcomes pre-pandemic with only slight improvements noted during the pandemic. The data corroborates the assertion that despite virtually no clear monetary advantages of ESG integration is seen at once, its contribution keeps increasing over time. The study emphasizes the complexities of ESG impacts and the need for companies to tailor their ESG strategy to specific operational and economic settings in order to maximize advantages. This study contributes to the nuanced understanding of ESG integration and encourages more research into its long-term effects in various businesses and regulatory situations.13 0Item Restricted The Role of Shareholders in Corporate Governance in Saudi Arabia Within the Framework of Saudi Vision 2030: An Analysis Study.(King's College London, 2024-08-31) Alsawadi, Osama; Fares M, Tamara NThe present study examines the role of shareholders in corporate governance within the context of Saudi Arabia’s Vision 2030. It analyses the functions and responsibilities of shareholders and how they influence and oversee company management. The study adopts both doctrinal and non-doctrinal approaches to explore the theoretical foundations of corporate governance, shareholders' rights and the legal environment in the country. The findings indicate the critical roles of shareholders as providers of capital, electors of directors, monitors of company performance and recipients of profits. They are entitled to fundamental rights, including voting on significant issues, access to information and receiving dividends. Saudi Arabia has recently enhanced legal shareholder protection through the 2015 Companies Law and the 2017 Corporate Governance Regulation. These policies have strengthened shareholders' voting rights, access to information and ability to influence major corporate decisions. However, minority shareholders continue to face challenges in environments with concentrated ownership. These issues include the lack of regulation enforcement, limited shareholder involvement and technological barriers. The study also suggests legal reforms to improve the position of minority shareholders, increase monitoring and penalties, initiate shareholder awareness and engagement and enhance access via technology. Overall, these insights are valuable for shaping policy and guiding corporate practices in Saudi Arabia, aligning with the ambitious goals of Vision 2030 to enhance governance and integrate global best practices. Keywords: Saudi Arabia, corporate, governance, shareholders, regulations, company, law.16 0Item Restricted THE RELATIONSHIP BETWEEN ESG AND FINANCIAL PERFORMANCE OF UK FTSE 250 LISTED FIRMS.(University of Sussex, 2024-09) Alhuqayl, Nouf Khalid; Hawas, AmiraIn this dissertation, the relationship between the Environmental, Social and Governance (ESG) principles in relation to the financial performance of FTSE 250 companies pre-and during COVID-19 was studied. Utilizing data from Bloomberg and to conduct regression panel models with fixed and random effects, a Hausman test was performed in order to choose the most effective model. The study reveals that ESG including its sub-dimension exhibit minimal influence on financial outcomes pre pandemic with only slight improvements noted during the pandemic. The data corroborates the assertion that despite virtually no clear monetary advantages of ESG integration is seen at once, its contribution keeps increasing over time. The study emphasizes the complexities of ESG impacts and the need for companies to tailor their ESG strategy to specific operational and economic settings in order to maximize advantages. This study contributes to the nuanced understanding of ESG integration and encourages more research into its long-term effects in various businesses and regulatory situations.10 0Item Restricted The Impact of Corporate Governance on Financial Performance in Saudi Listed Companies(University of Sussex, 2024-09) Madini, Numair; Madini, NumairThis dissertation investigates the impact of corporate governance on the financial performance of Saudi-listed companies, focusing on key governance elements such as board independence, executive compensation, audit committee effectiveness, transparency, and internal controls. With Saudi Arabia's Vision 2030 serving as a backdrop, this study aims to understand how recent governance reforms and practices contribute to the financial outcomes of companies in a rapidly evolving economic environment. The research adopts a quantitative approach, analyzing data from a representative sample of Saudi-listed firms across various sectors. The findings reveal that robust corporate governance practices are strongly correlated with improved financial performance. Specifically, the presence of independent directors on company boards is associated with higher returns on equity and assets, underscoring the importance of unbiased oversight in corporate governance. Similarly, executive compensation that aligns with company performance positively influences long-term financial success, although the design of such compensation packages must carefully balance short-term and long-term incentives. Effective audit committees, characterized by their independence and financial expertise, play a critical role in ensuring the integrity of financial reporting and internal controls. The study also highlights the importance of transparency in financial reporting, with companies that adhere to stringent disclosure practices attracting more investment and enjoying lower capital costs. Additionally, strong internal controls and proactive risk management practices are essential for 2 maintaining financial stability and resilience in an increasingly complex and volatile business environment. The dissertation concludes that as Saudi Arabia continues to pursue its Vision 2030 goals, the adoption of global best practices in corporate governance will be crucial in achieving sustainable growth, attracting foreign investment, and ensuring the long-term success of its corporate sector. The findings provide valuable insights for corporate leaders, policymakers, and researchers, contributing to the ongoing development of corporate governance practices in Saudi Arabia and other emerging markets.22 0Item Restricted Can the G20 better integrate stakeholders to respond more effectively to climate change?(University College London, 2023-12-01) Alsadhan, Norah; Esteve, MarcAs climate change becomes a more serious and urgent problem, there remain consistent questions regarding whether and how the institutions of global governance should respond. The G20 has not been immune from these criticisms, with an impressive set of literature adequately detailing slow progress and underwhelming commitments to tackle global warming. Among the proposals to remedy this is to enhance participation by stakeholders who might be able to better influence the adoption of climate pledges and hold G20 leaders to account. This dissertation provides a detailed and mixed methods analysis of whether and how stakeholder involvement might improve climate governance at the G20. The core argument followed throughout is that the G20 is relatively impervious to stakeholder engagement and in its current form it is unlikely to meaningfully integrate stakeholders in a way that would increase its effectiveness in the fight against climate change. As such, a proposal for a root and branch reform that institutionalises and formalises the G20 is proposed as an important consideration.24 0Item Restricted Ai Governance And Regulation: Emerging Approaches(2023-04-25) Alzahrani, Hani; Gikay, AsressArtificial intelligence (AI) systems are conquering the world and facilitate the shift to an automated future where many work processes become replaced by machines. Significant productivity gains will be reaped from this digital transformation. However, the change to data-driven AI decision-making poses various risks, for instance, can heighten bias/discrimination; removes subjective nuances and discretion which form part of human decision making; creates opacity; leads to unforeseeability/unpredictability; and can centralise control and risk that democracy becomes replaced by technocracy. The regulation and governance of AI is therefore a pressing concern, and four regulatory approaches are emerging: The European risk-based approach, the UK sectoral approach, a human rights approach, and a hybrid approach. These approaches seek to promote innovation and safeguard against risks to varying degrees. The risk-based and sectoral approaches reflect the drive of the EU and the UK to become global leaders in the AI sector since they have opted for an innovation friendly regulatory framework. A theory is proposed for adopting the appropriate regulatory approach. It is emphasised that human rights can play an important role for AI alignment and that even innovation-focused approaches should give more space to human rights.76 0