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The Asymmetric Impacts of ESG Performance on Firms Profitability: Evidence From Selected European Economies (2010-2024)
This thesis studies the impact of Environment, Social, and Governance (ESG) performance on firm financial performance, measured by net income, across Austria, Belgium, France, Germany, the Netherlands, Switzerland and Luxemburg during 2010-2024. Using fixed effect regression, the study investigates...
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AUC Knowledge Fountain
2026
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| _version_ | 1867613431617552384 |
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| access_status_str | Open Access |
| author | Kotb, Farida Khaled |
| author_browse | Kotb, Farida Khaled |
| author_facet | Kotb, Farida Khaled |
| author_sort | Kotb, Farida Khaled |
| collection | Thesis |
| description | This thesis studies the impact of Environment, Social, and Governance (ESG) performance on firm financial performance, measured by net income, across Austria, Belgium, France, Germany, the Netherlands, Switzerland and Luxemburg during 2010-2024. Using fixed effect regression, the study investigates the moderating role of firm size across eleven industries, including basic materials, consumer discretionary, consumer staples, energy, financials, health care, industrial, real estate, technology, telecommunications and utilities. The findings show that ESG performance have asymmetric impact on firm profitability, with larger firms experiencing stronger and more significant positive effects. Sectoral analysis reveals variations across industries, with positive effects concentrated in financial, healthcare, and industrial sectors, while other sectors exhibit weaker or negative outcomes. Comparison of Incumbent firms and new entrants shows that ESG-related financial benefits are stronger for new entrants, which entered the market in the post-pandemic period. To ensure the robustness of the results, a two-stage least squares (2SLS) approach is employed, the findings support the main results, confirming the size dependent effect of ESG performance on firm profitability |
| format | Thesis |
| id | oai:fount.aucegypt.edu:etds-3708 |
| institution | American University in Cairo (Egypt) |
| last_indexed | 2026-06-10T12:35:59.828Z |
| license_str | Not specified — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from AUC Knowledge Fountain — bepress |
| publishDate | 2026 |
| publishDateRange | 2026 |
| publishDateSort | 2026 |
| publisher | AUC Knowledge Fountain |
| publisherStr | AUC Knowledge Fountain |
| record_format | dspace |
| source_str | AUC Knowledge Fountain — bepress |
| spelling | oai:fount.aucegypt.edu:etds-3708 The Asymmetric Impacts of ESG Performance on Firms Profitability: Evidence From Selected European Economies (2010-2024) Kotb, Farida Khaled This thesis studies the impact of Environment, Social, and Governance (ESG) performance on firm financial performance, measured by net income, across Austria, Belgium, France, Germany, the Netherlands, Switzerland and Luxemburg during 2010-2024. Using fixed effect regression, the study investigates the moderating role of firm size across eleven industries, including basic materials, consumer discretionary, consumer staples, energy, financials, health care, industrial, real estate, technology, telecommunications and utilities. The findings show that ESG performance have asymmetric impact on firm profitability, with larger firms experiencing stronger and more significant positive effects. Sectoral analysis reveals variations across industries, with positive effects concentrated in financial, healthcare, and industrial sectors, while other sectors exhibit weaker or negative outcomes. Comparison of Incumbent firms and new entrants shows that ESG-related financial benefits are stronger for new entrants, which entered the market in the post-pandemic period. To ensure the robustness of the results, a two-stage least squares (2SLS) approach is employed, the findings support the main results, confirming the size dependent effect of ESG performance on firm profitability 2026-02-15T08:00:00Z thesis application/pdf https://fount.aucegypt.edu/etds/2650 https://fount.aucegypt.edu/context/etds/article/3708/viewcontent/Farida_khaled_kotb_thesis.pdf Theses and Dissertations AUC Knowledge Fountain ESG - Firm Profitability - European Economies Other Economics |
| spellingShingle | ESG - Firm Profitability - European Economies Other Economics Kotb, Farida Khaled The Asymmetric Impacts of ESG Performance on Firms Profitability: Evidence From Selected European Economies (2010-2024) |
| title | The Asymmetric Impacts of ESG Performance on Firms Profitability: Evidence From Selected European Economies (2010-2024) |
| title_full | The Asymmetric Impacts of ESG Performance on Firms Profitability: Evidence From Selected European Economies (2010-2024) |
| title_fullStr | The Asymmetric Impacts of ESG Performance on Firms Profitability: Evidence From Selected European Economies (2010-2024) |
| title_full_unstemmed | The Asymmetric Impacts of ESG Performance on Firms Profitability: Evidence From Selected European Economies (2010-2024) |
| title_short | The Asymmetric Impacts of ESG Performance on Firms Profitability: Evidence From Selected European Economies (2010-2024) |
| title_sort | asymmetric impacts of esg performance on firms profitability evidence from selected european economies 2010 2024 |
| topic | ESG - Firm Profitability - European Economies Other Economics |
| url | https://fount.aucegypt.edu/etds/2650 https://fount.aucegypt.edu/context/etds/article/3708/viewcontent/Farida_khaled_kotb_thesis.pdf |
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