Impact of global financial crisis on firm performance in UK: Moderating role of ESG, corporate governance and firm size
This paper investigates the impact of global financial crisis (GFC; 2007–10) on financial and non-financial performance of FTSE350 UK firms. This study tests the relationships among GFC, firm financial performance and environmental, social and governance (ESG; for non-financial performance) and esti...
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| Format: | Article |
| Language: | English |
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Taylor & Francis Group
2023-12-01
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| Series: | Cogent Business & Management |
| Subjects: | |
| Online Access: | https://www.tandfonline.com/doi/10.1080/23311975.2023.2167548 |
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| _version_ | 1849769645113868288 |
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| author | Nisar Ahmad Asma Mobarek Moodhi Raid |
| author_facet | Nisar Ahmad Asma Mobarek Moodhi Raid |
| author_sort | Nisar Ahmad |
| collection | DOAJ |
| description | This paper investigates the impact of global financial crisis (GFC; 2007–10) on financial and non-financial performance of FTSE350 UK firms. This study tests the relationships among GFC, firm financial performance and environmental, social and governance (ESG; for non-financial performance) and estimates the moderating role of ESG, corporate governance (CG) and firm size in these relationships. Panel data from 2002 to 2018 across 351 UK firms are used. For estimation, random effect model is found suitable to investigate the relationship between financial crisis and firm performance (financial performance as well as ESG performance). The results explain that financial as well as ESG performance of the firm declined during the financial crisis period. Firm size is a moderator in the relationship of financial crisis and ESG performance of the firm. Further findings of the study explain that ESG, firm size and CG are the moderators in the relationship of GFC and firm financial performance. The results of the study are data based and can be used for policy implications. Firms can employ ESG, CG and firm size as strategy tools to enhance their performance especially during the financial crisis periods. |
| format | Article |
| id | doaj-art-4e5e7646d67b4dff89fb8a0af838f09e |
| institution | DOAJ |
| issn | 2331-1975 |
| language | English |
| publishDate | 2023-12-01 |
| publisher | Taylor & Francis Group |
| record_format | Article |
| series | Cogent Business & Management |
| spelling | doaj-art-4e5e7646d67b4dff89fb8a0af838f09e2025-08-20T03:03:21ZengTaylor & Francis GroupCogent Business & Management2331-19752023-12-0110110.1080/23311975.2023.2167548Impact of global financial crisis on firm performance in UK: Moderating role of ESG, corporate governance and firm sizeNisar Ahmad0Asma Mobarek1Moodhi Raid2Department of Economics, University of Sargodha, Sargodha, PakistanEconomics Section Cardiff Business School, UKDepartment of Economics, Arab Open University, Saudi ArabiaThis paper investigates the impact of global financial crisis (GFC; 2007–10) on financial and non-financial performance of FTSE350 UK firms. This study tests the relationships among GFC, firm financial performance and environmental, social and governance (ESG; for non-financial performance) and estimates the moderating role of ESG, corporate governance (CG) and firm size in these relationships. Panel data from 2002 to 2018 across 351 UK firms are used. For estimation, random effect model is found suitable to investigate the relationship between financial crisis and firm performance (financial performance as well as ESG performance). The results explain that financial as well as ESG performance of the firm declined during the financial crisis period. Firm size is a moderator in the relationship of financial crisis and ESG performance of the firm. Further findings of the study explain that ESG, firm size and CG are the moderators in the relationship of GFC and firm financial performance. The results of the study are data based and can be used for policy implications. Firms can employ ESG, CG and firm size as strategy tools to enhance their performance especially during the financial crisis periods.https://www.tandfonline.com/doi/10.1080/23311975.2023.2167548global financial crisisfirm financial performanceESG performance of firmfirm size and FTSE350 firmsE63E65. |
| spellingShingle | Nisar Ahmad Asma Mobarek Moodhi Raid Impact of global financial crisis on firm performance in UK: Moderating role of ESG, corporate governance and firm size Cogent Business & Management global financial crisis firm financial performance ESG performance of firm firm size and FTSE350 firms E63 E65. |
| title | Impact of global financial crisis on firm performance in UK: Moderating role of ESG, corporate governance and firm size |
| title_full | Impact of global financial crisis on firm performance in UK: Moderating role of ESG, corporate governance and firm size |
| title_fullStr | Impact of global financial crisis on firm performance in UK: Moderating role of ESG, corporate governance and firm size |
| title_full_unstemmed | Impact of global financial crisis on firm performance in UK: Moderating role of ESG, corporate governance and firm size |
| title_short | Impact of global financial crisis on firm performance in UK: Moderating role of ESG, corporate governance and firm size |
| title_sort | impact of global financial crisis on firm performance in uk moderating role of esg corporate governance and firm size |
| topic | global financial crisis firm financial performance ESG performance of firm firm size and FTSE350 firms E63 E65. |
| url | https://www.tandfonline.com/doi/10.1080/23311975.2023.2167548 |
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