Proceedings of the 8th Global Conference on Business, Management, and Entrepreneurship (GCBME 2023)

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The Resilience of ASEAN 5 Company During Pandemics: Does ESG matter?

Authors
Amalia Siti Khodijah1, *, Dewi Ratnasari Astuti1, Anja Muhammad Zaenul Ihsan1
1Cipasung University, Tasikmalaya, Indonesia
*Corresponding author. Email: amaliaskj@uncip.ac.id
Corresponding Author
Amalia Siti Khodijah
Available Online 26 June 2024.
DOI
10.2991/978-94-6463-443-3_26How to use a DOI?
Keywords
Covid-19; ESG; Financial Performance
Abstract

This paper sets out to determine the impact of Environmental, Social, and Governance (ESG) performance on the financial resilience of non-financial companies operating in ASEAN 5 (Indonesia, Malaysia, Philippines, Singapore, and Thailand) during the COVID-19 pandemic. Using data from the Thomson Reuters database and the statistical software SPSS25, a linear regression model was employed to analyze panel data. The results reveal that Malaysian companies with a high ESG score experienced a reduction in asset turnover and operating profit volatility during the pandemic. However, no significant differences were found in asset turnover and operating profit margin based on ESG score for other countries. A pillar-wise analysis of the ESG score showed that all three pillars (E, S, and G) significantly impacted the resilience of Malaysian firms’ asset returns, while only pillars E and S influenced the operating profit margin. Overall, the study’s findings suggest that while engaging in ESG activities may not necessarily lead to better performance during a crisis, it still holds importance for both managers and investors.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 8th Global Conference on Business, Management, and Entrepreneurship (GCBME 2023)
Series
Advances in Economics, Business and Management Research
Publication Date
26 June 2024
ISBN
978-94-6463-443-3
ISSN
2352-5428
DOI
10.2991/978-94-6463-443-3_26How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Amalia Siti Khodijah
AU  - Dewi Ratnasari Astuti
AU  - Anja Muhammad Zaenul Ihsan
PY  - 2024
DA  - 2024/06/26
TI  - The Resilience of ASEAN 5 Company During Pandemics: Does ESG matter?
BT  - Proceedings of the 8th Global Conference on Business, Management, and Entrepreneurship (GCBME 2023)
PB  - Atlantis Press
SP  - 180
EP  - 185
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-443-3_26
DO  - 10.2991/978-94-6463-443-3_26
ID  - Khodijah2024
ER  -