THE IMPACT OF ENVIRONMENTAL, SOCIAL AND GOVERNANCE FACTORS ON FIRM VALUATION WITH MODERATING EFFECT OF FOREIGN OWNERSHIP IN UNITED KINGDOM NONE-FINANCIAL FIRMS /
Tabi, Valentine Eyong
THE IMPACT OF ENVIRONMENTAL, SOCIAL AND GOVERNANCE FACTORS ON FIRM VALUATION WITH MODERATING EFFECT OF FOREIGN OWNERSHIP IN UNITED KINGDOM NONE-FINANCIAL FIRMS / VALENTINE EYONG TABI ; SUPERVISOR, ASST. PROF. DR. BOREN SARGON - 60 sheets ; 30 cm +1 CD ROM
Thesis (MSc) - Cyprus International University. Institute of Graduate Studies and Research Accounting and Finance
The goal of this research is to look at the link between environmental, social, and
governance (ESG) concerns and business worth, whilst accounting for the moderate
impact of foreign ownership on this connection of enterprises listed on the Financial
Times Stock Exchange (FTSE) in the United Kingdom from 2012 to 2021. To
accomplish this purpose, the ESG composite is broken into four sections; ESG
composite pillar score, Scores for the Environmental pillar, the Social pillar, and the
Governance pillar. This provides a distinct understanding of which ESG variables truly
effect business value when moderated by foreign ownership. To proceed with our
research study, our secondary data was retrieved from the Refinitive data base,
ordinary analytical models where employed namely; the pooled OLS model, the
random effect model, and the fixed effect model are the three models employed in this
study. After thorough analysis was completed among the three ordinary regression
analytical models we can draw the following findings without ambiguity; To what
concern ESG combined pillar score, when ESG combine pillar score is moderated by
foreign ownership, it has rather a negative significance to firm value Tobin Q on
pooled OLS, positive significance on Radom effect model and positive significance
on fixed effect model. Hence ESG combine pillar score has a substantial influence on
the business's worth when moderated by foreign ownership. Equally, when ENV pillar
score is moderated by foreign ownership, it has rather a negative significance to firm
value Tobin Q on pooled OLS, positive significance on Radom effect model and
positive significance on fixed effect model. Hence ENV pillar score has a substantial
influence on the company's worth, when moderated by foreign ownership.
Furthermore, when SOC pillar score is moderated by foreign ownership, it has equally
a negative significance impact to firm value Tobin Q on pooled OLS, and Radom effect
only has a positive significance on fixed effect therefore SOC pillar score has got no
effect on SOC- firm value relationship when moderated by foreign ownership. And
lastly when GOV pillar score is moderated by foreign ownership, it has equally a
negative significance impact to firm value Tobin Q, on pooled OLS, and Radom effect
only has a positive significance on fixed effect therefore GOV pillar score has got no
effect on GOV- firm value relationship when moderated by foreign ownership. This
study increases empirically the research in terms of company ethical behavior
otherwise known as (CSR). The findings influences regulators and researchers rather
than just corporate governance. According to the findings not all foreign ownership
investment on the ESG factors in United Kingdom firms are favourable to firm value.
Accounting and Finance--Dissertations, Academic
THE IMPACT OF ENVIRONMENTAL, SOCIAL AND GOVERNANCE FACTORS ON FIRM VALUATION WITH MODERATING EFFECT OF FOREIGN OWNERSHIP IN UNITED KINGDOM NONE-FINANCIAL FIRMS / VALENTINE EYONG TABI ; SUPERVISOR, ASST. PROF. DR. BOREN SARGON - 60 sheets ; 30 cm +1 CD ROM
Thesis (MSc) - Cyprus International University. Institute of Graduate Studies and Research Accounting and Finance
The goal of this research is to look at the link between environmental, social, and
governance (ESG) concerns and business worth, whilst accounting for the moderate
impact of foreign ownership on this connection of enterprises listed on the Financial
Times Stock Exchange (FTSE) in the United Kingdom from 2012 to 2021. To
accomplish this purpose, the ESG composite is broken into four sections; ESG
composite pillar score, Scores for the Environmental pillar, the Social pillar, and the
Governance pillar. This provides a distinct understanding of which ESG variables truly
effect business value when moderated by foreign ownership. To proceed with our
research study, our secondary data was retrieved from the Refinitive data base,
ordinary analytical models where employed namely; the pooled OLS model, the
random effect model, and the fixed effect model are the three models employed in this
study. After thorough analysis was completed among the three ordinary regression
analytical models we can draw the following findings without ambiguity; To what
concern ESG combined pillar score, when ESG combine pillar score is moderated by
foreign ownership, it has rather a negative significance to firm value Tobin Q on
pooled OLS, positive significance on Radom effect model and positive significance
on fixed effect model. Hence ESG combine pillar score has a substantial influence on
the business's worth when moderated by foreign ownership. Equally, when ENV pillar
score is moderated by foreign ownership, it has rather a negative significance to firm
value Tobin Q on pooled OLS, positive significance on Radom effect model and
positive significance on fixed effect model. Hence ENV pillar score has a substantial
influence on the company's worth, when moderated by foreign ownership.
Furthermore, when SOC pillar score is moderated by foreign ownership, it has equally
a negative significance impact to firm value Tobin Q on pooled OLS, and Radom effect
only has a positive significance on fixed effect therefore SOC pillar score has got no
effect on SOC- firm value relationship when moderated by foreign ownership. And
lastly when GOV pillar score is moderated by foreign ownership, it has equally a
negative significance impact to firm value Tobin Q, on pooled OLS, and Radom effect
only has a positive significance on fixed effect therefore GOV pillar score has got no
effect on GOV- firm value relationship when moderated by foreign ownership. This
study increases empirically the research in terms of company ethical behavior
otherwise known as (CSR). The findings influences regulators and researchers rather
than just corporate governance. According to the findings not all foreign ownership
investment on the ESG factors in United Kingdom firms are favourable to firm value.
Accounting and Finance--Dissertations, Academic