Relating Environmental,Social, and Governance scores and sustainability performances of firms: An empirical analysis

Environmental, Social, and Governance (ESG) scores can act as an indicator for sustainability performance of organizations. This paper explores an empirical evidence for the relationship binding ESG scores and sustainability performances of firms. We observe and evaluate the ESG performance scores of 1,820 firms globally for 5 years, from 2014 to 2018 on 10 major themes and over 400 different indicators, as listed by Thomson Reuters and is captured from the Bloomberg terminal data. We posit five hypotheses to check the relations binding ESG scores and the total sustainability performances of firms. A Partial Least Square (PLS) analysis and standard bootstrapping using Smart PLS 3.0 software is used to observe the results and to evidence the direct and moderating effects among latent variables contributing to sustainability performances. We observe a significant and negative moderating effect of ESG performances, independently over the all direct relations, considering their relationship to ESG performances. One of the major implications of this research is in the direction of assigning priorities while considering environmental‐, social‐, and governance‐related themes in the implementation of any strategies or policies into practice.     

森林可持续经营中分权管理的途径及缺陷:亚洲太平洋地区的经历

分权管理作为改进治理的民主进程和资源的公平分配或有效性的方法而受到广泛的讨论。分权管理的目标和主要原则(如辅助作用等)已是众所周知的,但付诸实施却总是不很成功。分权管理的途径有时从概念上设计得很好,但因各种原因并未按照设计去执行,从而出现了造成冲突和混乱的严重缺陷,导致目标未能实现。通过对亚太地区案例研究的正面和负面的经验进行了回顾,对森林经营和可持续性的影响给予了关注。成功的分权管理途径需要反映国家所关心的地理、文化和机构方面,以及相关的各种施政、市场和信息功能。分权管理有多种形式,其可以包含地域层次和联邦层次,也可以包括地方政府或不符合常规施政的地域。但所有的分权管理形式都必须做好准备工作,且分阶段实施非常必要。总结案例研究的教训为森林可持续经营提供了制定未来分权管理途径的基础和避免缺陷。