Influence of ESG factors on the performance of mining companies in the international market
Abstract
Currently, the sustainability of a company development is an important aspect when making investment decisions, but it is necessary to understand how significant the relationship between financial results and the sustainability of a company is. This work is aimed at identifying the relationship between ESG factors and the performance of a company. A correlation and regression analysis of the impact of ESG factors on a number of financial performance indicators of companies in the extractive industry in the international market was carried out using the Gretl software product. For the total sample of 108 companies, no significant relationship was found. Dividing the sample into companies from Western and Eastern countries made it possible to identify different nature of the relationship between environmental, social, management and financial performance indicators depending on the region of origin of the company, which became the main factor in determining the significance level of the influence of one of the ESG factors. Using non-parametric analysis based on DEA, an integrated assessment of the performance of companies from a financial, market and debt point of view was carried out, which made it possible to assess comprehensively the company ability to achieve optimal results with the existing ESG factors, a gradation of efficiency levels was also proposed.
About the Authors
A. V. Lyzhova
Kazan (Volga Region) Federal University
Russian Federation
Russian Federation
PhD in Economics, Associate Professor
Yu. V. Plotnikova
Kazan (Volga Region) Federal University
Russian Federation
Russian Federation
Master Student
A. R. Ziyatdinova
Kazan (Volga Region) Federal University
Russian Federation
Russian Federation
Master Student
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Review
For citations:
Lyzhova A.V., Plotnikova Yu.V., Ziyatdinova A.R. Influence of ESG factors on the performance of mining companies in the international market. Kazan economic vestnik. 2024;(6):16-25. (In Russ.)
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