Date of Publication

3-14-2025

Document Type

Bachelor's Thesis

Degree Name

Bachelor of Science in Accountancy

Subject Categories

Accounting

College

Ramon V. Del Rosario College of Business

Department/Unit

Accountancy

Thesis Advisor

Janus Aries Q. Simbillo

Defense Panel Chair

Michelle A. Ang

Defense Panel Member

Julian C. Antonio

Abstract (English)

In the present business landscape, emphasizing the integration of Environmental, Social, and Governance (ESG) practices is gaining greater significance than mere profit maximization. Despite the increasing adoption of ESG across Southeast Asia, comprehensive studies on its impact remain limited. To fill these research gaps, this study investigates the impact of mandatory ESG disclosures on diverse performance indicators across sectors in the ASEAN region. Utilizing data from Refinitiv Eikon for publicly listed firms in Indonesia, Malaysia, the Philippines, Singapore, and Thailand, spanning from 2015 to 2022, the analysis encompasses financial, operational, market, stock, and investment performance indicators and used panel data regression, specifically the pooled OLS, fixed effects, and random effects regression models. The results of the regression analysis conducted in the study revealed a significant positive impact of ESG disclosure on financial, operational, and market performance. Conversely, a significant negative impact on volatility, a key measurement within the investment performance indicator, was observed. However, ESG Disclosure showed no significant impact on stock and investment performance measured by risk-adjusted returns. This research delves into the complexities of ESG disclosures and their multifaceted effects on various firm performances, providing valuable insights crucial for investors, policymakers, and firms as they navigate the evolving terrain of sustainable business practices within the ASEAN region.

Abstract Format

html

Abstract (Filipino)

None

Abstract Format

html

Format

Electronic

Keywords

Sustainable development

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Embargo Period

3-14-2025

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