The DOI matches its Crossref record; 88 of the 88 references it cites were found in a registry or an index.
Exploring the impact of sustainability (ESG) disclosure on firm value and financial performance (FP) in airline industry: the moderating role of size and age
Open accessAbstract
This study aims at exploring the impact of ESG scores on the value and FP of firms in the airline industry. The potential moderating role of firm size and age has also been studied in an effort to disentangle their relationships in this context. In particular, the analysis involves interaction effects for two types of firms: full-service and low-cost carriers. Based on the collected data from 38 airlines worldwide for the period 2009 to 2019, we observed that contributions to governance initiatives improve a firm’s market-to-book ratio. We also found that a firm’s participation in social and environmental activities is positively and significantly rewarded by a higher level of financial efficiency. Additionally, firm size is the relevant moderator for the association between sustainability disclosure and both firm value and FP in the air transport industry. We therefore propose that a managerial strategy of participating in these initiatives may adapt them based on their total assets as proxy of firm size. In regard to firm age, we did not find it to be a significant moderator.
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Artificial Intelligence and Environmental, Social and Governance: A Bibliometric Analysis Review
Alhasnawi, M. Y., Alshdaifat, S. M., Aziz, N. H. A., & Almasoodi, M. F. (2024) · Lecture Notes in Networks and Systems · doi:10.1007/978-3-031-63717-9_8 · Cited by 35
Al-Tahat, S., Bani-Khaled, S., Jaradat, Z., Mansour, M., & Al-zoubi, A. M. (2025) · Journal of Business and Socio-economic Development · doi:10.1108/jbsed-05-2025-0145 · Cited by 27
Lunawat, R. M., Elmarzouky, M., & Shohaieb, D. (2025) · Sustainability · doi:10.3390/su17198522 · Cited by 23
Metadata
- Authors
- Abdi, Y., Li, X., & Càmara-Turull, X.
- Venue
- Environment, Development and Sustainability
- Published
- 2021-08-02
- Volume
- 24
- Issue
- 4
- Pages
- 5052-5079
- ISSN
- 1387-585X (ISSN-L)
- 1573-2975
- OpenAlex
- W3191720600
- Cited by
- 432
- References
- 88
- FWCI
- 51.34
- Type
- journal article
- Language
- en
- Open access
- hybrid
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- Abdi, Y., Li, X., & Càmara-Turull, X. (2022). Exploring the impact of sustainability (ESG) disclosure on firm value and financial performance (FP) in airline industry: the moderating role of size and age. Environment, Development and Sustainability. https://doi.org/10.1007/s10668-021-01649-w
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
