University of Notre Dame
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The Importance of Country-Level ESG Scores

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journal contribution
posted on 2025-03-12, 18:32 authored by Süreyya Burcu Avci
Environmental sustainability is more important than social and governance pillars. Analyzing cross-border banking flows into real-sector firms across 26 developed countries from 2006 to 2017, the study finds a positive and significant relationship between country-level sustainability scores and banking flows. Using dynamic panel regression methods, this finding aligns with signaling theory, suggesting that a country's sustainability score attracts more international fund flows.

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  • English

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.pdf and online resource

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Copyright, Accountability in a Sustainable World Quarterly, CARE Center for Accounting Research and Education