This study aims to investigate the impact of Environmental, Social and Governance (ESG) on bank performance (FP) in the Middle East, North Africa and Turkey (MENAT) region. The sample consists of 46 listed banks between 2007–2019. FP is measured through accounting (Return on Assets Return on Equity) and market indicators (Tobin’s Q Stock Return ). We test the effect of ESG and its quadratic term on FP by controlling for bank-specific, macroeconomic and financial development variables. Our results support the presence of a non-linear ESG–FP relationship. ESG incremental investments remain beneficial till reaching an inflection point. Interestingly, the financial development variables are significant, while ESG pillars follow different patterns. Governance pillar has a concave relationship with accounting performance while environmental pillar has a convex relationship with the market return. The ESG–FP relationship depends on three vectors: pillars; measure of FP; and level of ESG. Banks should determine ESG turning points to rationalize their investments and contemplate efficient returns.

This study is epicentral to analyze the impact of the Russia–Ukraine war on the financial markets, specifically focusing on the connectedness and spillover dynamics of FinTech, Environmental, Social, and Governance (ESG), renewable energy, gold, and Morgan Stanley Capital International (MSCI) indices in developed and emerging countries. Data are collected from Thomson Reuters, ranging from May 8, 2020, to May 11, 2022, and a time‐varying parameter vector autoregression (TVP‐VAR) and the dynamic conditional correlation (DCC) generalized autoregressive conditional heteroskedasticity (GARCH) t‐Copula (DCC‐GARCH t‐Copula) are used to analyze the data. The results show that FinTech, ESG, and MSCI are net transmitters in developed countries, whereas gold and renewable energy are net receivers pre‐ and during war periods. ESG and MSCI are net transmitters in emerging countries, while FinTech, renewable energy, and gold become net receivers in both periods. The hedging ratio sheds light on the costs and weights of efficient pair investments that might change in the context of each region and under the combined scenario. The study has important implications for merchant bankers, policymakers, investors, hedgers, and risk managers.

This paper aims to empirically examine the link between corporate governance and the financial performance of small and medium enterprises (SMEs) in Lebanon. To this end, we use a questionnaire and collect data from a sample of 150 non-listed companies. The Bundles approach following R. Aguilera et al. ( 2008 Aguilera, R. , I.Filatotchev, H.Gospel, and G.Jackson . 2008. “An Organizational Approach to Comparative Corporate Governance: Costs, Contingencies, and Complementarities.” Organ. Sci. 19: 475–492. [Crossref], [Web of Science ®] , [Google Scholar] ). ‘An Organizational Approach to Comparative Corporate Governance: Costs, Contingencies, and Complementarities.’ Organization Science 19: 475–492.) is used to construct a corporate governance score based on three main components. By applying 2SLS regression to control for endogeneity and a quantile regression, we study the impact of corporate governance (CG) score and each of its components on the financial performance (FP) measured by return on assets (ROA) and return on investment (ROI) while controlling for SMEs age, size, and industry. The study indicates positive interdependency between CG and FP. Effective CG results in increased FP and better performing companies tend to improve their CG). Interestingly, our results show that this relationship depends on the level of SMEs FP These findings provide managers with useful insights and serve as an underpinning for more regulatory efforts aimed at strengthening the CG of SMEs in Lebanon.

Based on a sample of companies from G7 countries, we investigate the effect of eco-innovation on waste management as well as the moderating role of firms’ environmental, social, and governance (ESG) on this relationship. Our findings indicate that a higher level of eco-innovation might lead to a decline in firms’ total waste produced and an increase in firms’ magnitude of reusing and recycling waste. Likewise, our findings are associative with a moderating effect of ESG on the eco-innovation-waste management nexus. We argue that eco-innovation, along with better ESG performance, leads to a reduction in waste produced and thus better business waste management. Our study has several implications on micro- and macroeconomic levels. Countries should revisit their national strategies and domestic policies about circular economies to form international alliances and embrace more technological development.

Purpose: This study investigates the impact of green supply chain management (GSCM) practices on environmental performance in firms operating in the discretionary sector in the G20 countries. The sample covers 749 firms for the period 2010–2020. Design/methodology/approach: This study combines qualitative and quantitative data to examine the impact of the implementation of GSCM on accounting performance measured by the operating margin (OM) and return on assets (ROA). The authors also moderate the effects of Six Sigma and quality management (QM) and ISO 9000 and control for firm variables and COVID 19. Findings: Using a panel data regression and structural equation modeling (SEM), results indicate that discretionary firms with internal solid GSCM practices combined with external environmental monitoring of suppliers are likely to outperform their peers in environmental issues. Using hierarchical regression, results indicate that both ISO 9000 and S&QM have moderating effects at some level of performance. Furthermore, environmental performance is positively correlated with accounting performance. This study contributes to the literature by addressing the impact of GSCM and the importance of reinforcing green and social regulations to protect the planet. Originality/value: The paper is one of the first to measure GSCM triple components and account for COVID-19 in the context of discretionary companies and G20 countries. It highlights the impact of green initiatives to cope with major disruptions and decrease pollution and environmental disasters.