مؤشرات التمويل المستدام وتأثيرها في الأداء المالي للشركات

Rp- Sustainable Finance Indicators and Their Impact on Corporate Financial Performance .pdf

This study aims to analyze the impact of sustainable finance indicators on the financial performance of companies, focusing on the importance of adopting environmental, social, and governance (ESG) dimensions and their role in enhancing long-term performance. The study is based on the research problem: To what extent do sustainable finance indicators affect the financial performance of companies? In the empirical part, the study relied on financial data from the annual reports of selected French companies operating in various sectors. The data were collected for the period (2009–2024) using panel data to analyze annual changes in the study variables. EViews 12 software was used to build the econometric model and estimate the relationship between the study variables. The independent variable is represented by sustainable finance indicators, which include environmental indicators, social indicators, and governance indicators. The dependent variable is represented by financial performance. The hypotheses were tested through multiple regression analysis, and the Hausman test was applied to select the best model. Microsoft Excel was also used for data organization and analysis. The results of the study revealed a varied impact of sustainable finance indicators on companies’ financial performance. Some indicators showed a negative relationship, while others exhibited a positive relationship with financial performance, indicating that the nature of this impact varies according to the type of indicator. The results also showed differences in the level of adoption of sustainable finance indicators among companies depending on their economic activities and sectors. The study concluded with a set of recommendations, most notably the need to strengthen the implementation of sustainable finance standards by directing capital toward environmentally friendly projects, improving health and safety programs, increasing disclosure and transparency, and achieving a balance among the three dimensions of sustainable finance to ensure positive and sustainable financial outcomes in the long term.