References
Adeneye, Y., & Kammoun, I. (2022). Real earnings management and capital structure: Does environmental, social and governance (ESG) performance matter?. Cogent Business & Management, 9(1), 2130134 Ahmad, I., Sadiqa, A. B., & Khan, R. (2021). The impact of corporate governance practices on the firm financial performance of the non-financial firms. Global Economics Review, 6(1), 53-70 Akinwole, B.D. & Ajide, F.M. (2020).Board characteristics and firm’s financial performance in Nigeria. Dept of Economics, Unilorin working paper/05/2020 Albuquerque, R., Durnev, A. & Koskinen, Y. (2012). Corporate social responsibility and asset pricing in industry equilibrium. Available at SSRN1961971 (Accessed August 2024). Albuquerque, R., Koskinen, Y. & Zhang, C. (2019). Corporate social responsibility and firm risk: theory and empirical evidence”, Management Science, 65(10), 4451-4469 Alsayegh, M.F., Abdul Rahman, R. & Homayoun, S. (2020). Corporate economic, environmental, and social sustainability performance transformation through ESG disclosure, Sustainability, 12(9), 3910. Bassen, A. & Kovacs, A.M.M. (2008). Environmental, social and governance key performance indicators from a capital market perspective. Zeitschrift für Wirtschafts-und Unternehmensethik (9/2), 182-192. Breuer, N. & Nau, C. (2014). ESG performance and corporate financial performance. A Master’s dissertation, School of Economics and Management, Lunds University, 2014. Broadstock, D.C., Chan, K., Cheng, L.T.W. & Wang, X. (2020). The role of ESG performance during times of financial crisis: evidence from COVID-19 in China. Finance Research Letters, 38(1), 101716. Buallay, A. (2019). Is sustainability reporting (ESG) associated with performance? Evidence from the European banking sector. Management of Environmental Quality: An International Journal, 30(1), 98-115. Chang, Y.-J., & Lee, B.-H. (2022). The impact of ESG activities on firm value: Multi-level analysis of industrial characteristics. Sustainability, 14(21), https://doi.org/10.3390/ su142114444. Da-Silva, P.R., Kasper, L., Brizolla, M.M.B., Brum, A.L., Baggio, D.K., & Sausen, J.O. (2023). The relationship between governance mechanisms and social responsibility practices in Gaúcha cooperatives. Revista De Gestão Social E Ambiental, 17(8), e03963. https://doi.org/10.24857/rgsa.v17n8-027 Duque-Grisales, E. & Aguilera-Caracuel, J. (2019). Environmental, social and governance (ESG) scores and financial performance of multilatinas: Moderating effects of geographic international diversification and financial slack. Journal of Business Ethics, 168(2), 315-334. Earnhart, D. & Lizal, L. (2010). Effect of corporate economic performance on firm-level environmental performance in a transition economy. Environmental and Resource Economics, 46(3), 303-329 Eccles N. S. & Viviers, S.(2011). The origins and meanings of names describing investment practices that integrate a consideration of ESG issues in the academic literature,” Journal of Business Ethics, 104(3), 389–402 Eliwa, Y., Aboud, A. & Saleh, A. (2019). ESG practices and the cost of debt: evidence from EU countries. Critical Perspectives on Accounting, 10.1016/j.cpa.2019.102097 (Accessed April 2024). Ferrero-Ferrero, I., Fern_andez-Izquierdo, M.Á. & Muñoz-Torres, M.J. (2016). The effect of environmental, social and governance consistency on economic results. Sustainability, 8(10), 1005. Friede, G., Busch, T. & Bassen,A. (2015). ESG and financial performance: aggregated evidence from more than 2000 empirical studies. Journal of Sustainable Finance and Investment, 5(4), 210-233. Galbreath, J. (2013). ESG in focus: ‘The Australian evidence’,” Journal of Business Ethics, 118(3), 529–541, 2013. Greenwald. C. (2010). ESG and earnings performance. ASSET4: Thomson Reuters study. [Online]. Available: http;// thomsonreuters.com/content/dam/openweb/documents/pdf /tr-com-financial/case-study/esg-and-earnings-performance.pdf Haider, M. (2020). Audit quality and earnings management in less developed economies: the case of Saudi Arabia. Journal of Management and Governance, 21(2), 351-37 Hoepner, A.G.F., Oikonomou, I., Sautner, Z., Starks, L.T. & Zhou, X. (2019). ESG shareholder engagement and downside risk”, working paper, September, Available at: https://ssrn.com/ abstract=2874252 (Accessed August, 2024). Ifada, L. M., Indriastuti, M., Ibrani, E. Y., & Setiawanta, Y. (2021). Environmental perfor- mance and environmental disclosure: The role of financial performance. The Journal of Asian Finance, Economics and Business, 8(4), 349–362. Imasuen, O.F., Okoro, G.E. & Yahaya, G.H. (2022). Chief executive officer attributes and the value of the firm: Does firm size play a moderating role?. International Journal of Management and Sustainability, 11(1), 46-7 Indarawati T., Ruhanita M. & Nor H.T. (2016). The impact of environmental, social and governance practices (ESG) on economic performance: Evidence from ESG score. International Journal of Trade, Economics and Finance, 7(3) Kaakeh, M., & Gokmenoglu, K. K. (2022). Environmental performance and financial per- formance during COVID-19 outbreak: Insight from Chinese firms. Frontiers in Environmental Science, 10, 975924. https://doi.org/10.3389/ fenvs.2022.975924. Lee, D.D., Faff, R.W. & Langfield-Smith, K. (2009). Revisiting the vexing question: does superior corporate social performance lead to improved financial performance? Australian Journal of Management, 34(1), 21-49. Lee, K.-H., & Saen, R. F. (2012). Measuring corporate sustainability management: A data envelopment analysis approach. International Journal of Production Economics, 140(1),219-226. Lourenço, I., Branco, M., Curto, J. & Eugénio, T. (2012). How does the market value corporate sustainability performance?”, Journal of Business Ethics, 108(4), 417-428. Lu, L. W., & Taylor, M. E. (2018). A study of the relationships among environmental performance, environmental disclosure, and financial performance. Asian Review of Accounting, 26(1), 107–130. https://doi.org/10.1108/ ara-01-2016-0010. Margolis J.D. & Walsh, J.P. (2003). Misery loves rethinking companies: Social initiatives by business,” Administrative Science Quarterly, 48(2), 268–305, Noja, G. G., Baditoiu, B. R., Buglea, A., Munteanu, V. P., & Gligor Cimpoieru, D.C. (2024). The impact of environmental, social and governance policies on companies’ financial and economic performance: A comprehensive approach and new empirical evidence. E&M Economics and Management, 27(1), 121–144. doi.org/10.15240/tul/001/2024-1- 008 Nur B.S., Suganthi, R. & Yuen Y.Y. (2023). The effect of environmental, social and governance criteria on the corporate value of listed companies in Malaysia. Asian Economic and Financial Review 13(5), 338-352: doi: 10.55493/5002.v13i5.4782 Orlitzky, M. Schmidt, F.L. & Rynes, S.L (2003). Corporate social and financial performance: A meta-analysis. Organization Studies, 24, 403-441 Qian, L.K., Bakhtiar A. Yee C.C., Wan M.T., & Wan A. (2017). the effects of environmental, social and governance on the corporate performance of Malaysian government- linked companies. SHS Web of Conferences 36, 00022 (2017) doi:10.1051/shsconf/201736 00022016 ICGA 2 Revelli, C. & Viviani, J.L. (2015). Financial performance of socially responsible investing (SRI): what have we learned? A meta-analysis. Business Ethics: A European Review, 24(2), 158-185. Van-Beurden, P. & Gössling, T. (2008). The worth of values – a literature review on the relation between corporate social and financial performance. Journal of Business Ethics, 82(90), 407-424. Velte, P. (2019). The bidirectional relationship between ESG performance and earnings management–empirical evidence from Germany. Journal of Global Responsibility, 10(4), 322-338. Wagner, M. (20