Utjecaj ekoloških, društvenih i upravljačkih čimbenika na financijski rezultat banaka u Europi

master's thesis

• Title (english): The impact of environmental, social and governance factors on the financial performance of banks in Europe
• Author: Nives Stepan
• Mentor: Ana Ivanišević Hernaus (mentor)
• Committee member: Branka Tuškan Sjauš (član povjerenstva)
• Committee member: August Cesarec (član povjerenstva)
• Granter: University of Zagreb; Faculty of Economics and Business; (Department of Finance); Zagreb
• Defense date and country: 2024-09-27, Croatia
• Scientific / art field, discipline and subdiscipline: SOCIAL SCIENCES; Economics; Finance

Abstract

U radu su detaljno prikazane i analizirane glavne značajke europskog bankarskog sustava te je istražena tematika funkcioniranja tržišta ekoloških, društvenih i upravljačkih rejtinga u cilju ukazivanja na važnost koncepta održivog bankarstva za daljnji razvoj financijskog sustava koji je u skladu s principima održivog razvoja te potrebu za jačanjem transparentnosti, dostupnosti i kredibilnosti ekoloških, društvenih i upravljačkih rejtinga. Predmet empirijskog istraživanja ovog rada su ekološki, društveni i upravljački čimbenici bankarskog poslovanja. Na uzorku od 118 europskih poslovnih banaka istražen je potencijalni utjecaj ekoloških, društvenih i upravljačkih čimbenika na njihov financijski rezultat. U tu su svrhu razvijene tri teorijske pretpostavke te je provedena panel regresijska analiza. Empirijski rezultati ukazali su na postojanje pozitivne veze između ukupnog ESG rejtinga banaka i njihove profitabilnosti aktive. Utvrđeno je da uključenost europskih banaka u aktivnosti u području zaštite klime i okoliša može rezultirati većom profitabilnošću njihove aktive. S druge strane, uključenost europskih banaka u aktivnosti iz područja socijalnih i korporativno upravljačkih pitanja nije moguće povezati s većom profitabilnošću. Ovim je istraživanjem stavljen naglasak na značajnoj ulozi bankarskog sektora u doprinosu razvoja održivih financija u Europi, kao i mogućnostima integracije ESG politika u poslovne modele banaka.

Abstract (english)

The study comprehensively analyzes the main features of the European banking system and exanimes the biggest challenges related to the functioning of market for environmental, social and governance (ESG) ratings in order to emphasize the importance of sustainable banking for the further development of sustainable financial system and the need to improve transparency, availability and credibility of environmental, social and governance ratings. The subject of this paper's empirical research are environmental, social and governance (ESG) factors in banking sector. The potential impact of environmental, social and governance factors on the bank performance was investigated using a sample of 118 European commercial banks. For that purpose, three theoretical assumptions were developed and regression analysis was applied. Empirical results show a positive relationship between bank's ESG ratings and their return on assets, while the relationships between each ESG pillar are mixed if measured individually. The prediction regarding the positive relationship between environmental performance and bank financial performance was confirmed. On the other hand, the predictions regarding the positive relationship between social responsibility and bank financial performance and the positive relationship between corporate governance and bank financial performance were rejected. This research emphasized the potentially significant role of the banking sector regarding to their contribution to the development of sustainable financing in Europe, as well as the possibilities of integrating ESG policies into the bank's business models.

• Keywords: ekološki; društveni i upravljački čimbenici; ekološki; društveni i upravljački rejting; profitabilnost aktive; banke; regresijska analiza
• Keywords (english): environmental; social and governance (ESG) factors; environmental; social and governance (ESG) rating; ROA; banks; regression analysis
• Language: croatian
• URN:NBN: urn:nbn:hr:148:949027
• Study programme: Title: Business economics; Study programme type: university; Study level: integrated undergraduate and graduate; Academic / professional title: sveučilišni magistar ekonomije/sveučilišna magistra ekonomije (sveučilišni magistar ekonomije/sveučilišna magistra ekonomije)
• Type of resource: Text
• File origin: Born digital
• Access conditions: Access restricted to students and staff of home institution
• Created on: 2024-09-30 12:20:10