Financial, spatial and systemic determinants of ESG scoring assigned to commercial banks

• Autorzy: Gospodarowicz Marcin , Korzeb Zbigniew , Niedziółka Paweł , Torre de la Antonio

Identyfikatory

DOI

10.34659/eis.2023.87.4.686

Warianty tytułu

PL

Finansowe, przestrzenne i systemowe determinanty scoringów ESG nadanych bankom komercyjnym

• Języki publikacji: EN

Abstrakty

EN

The aim is to verify which financial, spatial and systemic importance variables interact with ESG scoring. Based on data from 628 banks from 63 countries, a multinomial ordered logit model was built with the explanatory variables of Sustainalytics and Moody's ESG scores. Results indicate that membership in the EU, being an SIB, capitalisation, and revenues have a positive effect on ESG. In contrast, an increase in leverage, NPL ratio, and profitability are associated with a deterioration in scorings. Results differ in terms of the spatial aspect (in the case of Sustainalytics, additionally, location in the US favours ESG scoring) and the spectrum of systemic importance (in the case of Moody's, it is both global and local dimensions). This study is the first attempt to identify common (to different methodologies) determinants of ESG scoring. Its originality is also determined by the demonstration of a relationship between spatial variables and SIB's membership and ESG scoring.

PL

Celem badania jest weryfikacja, które zmienne finansowe, przestrzenne oraz związane ze znaczeniem systemowym, oddziałują na scoring ESG. W oparciu o dane 628 banków z 63 krajów zbudowano wielomianowy uporządkowany model logitowy ze zmiennymi objaśnianymi w postaci scoringów ESG Sustainalytics oraz Moody’s. Wyniki wskazują na to, że przynależność do Unii Europejskiej, do grupy banków o znaczeniu systemowym, kapitalizacja oraz przychody pozytywnie oddziałują na ocenę ESG. Z kolei wzrost dźwigni finansowej, wskaźnika NPL oraz rentowności banku wiążą się z pogorszeniem scoringu. Wyniki różnią się w zakresie aspektu przestrzennego (w przypadku Sustainalytics dodatkowo lokalizacja w USA sprzyja ocenie ESG) oraz spektrum znaczenia systemowego (w przypadku Moody’s jest to wymiar zarówno globalny, jak i lokalny). Przedmiotowe badanie jest pierwszą próbą identyfikacji wspólnych (dla różnych metodyk oceny) determinant scoringu ESG. O jego oryginalności przesądza także wykazanie zależności między zmiennymi przestrzennymi oraz przynależnością do grupy instytucji o znaczeniu systemowym a scoringiem ESG.

Słowa kluczowe

EN

commercial bank; ESG scoring; NPL; EU; SIB

PL

bank komercyjny; scoring ESG; NPL; UE; SIB

• Wydawca: Polskie Stowarzyszenie Ekonomistów Środowiska i Zasobów Naturalnych
• Czasopismo: Economics and Environment
• Rocznik: 2023
• Tom: No. 4
• Strony: 1--25
• Opis fizyczny: Bibliogr. 39 poz., tab., wykr.

Twórcy

autor

Gospodarowicz Marcin

• Institute of Banking, SGH Warsaw School of Economics

• https://orcid.org/0000-0001-5011-3247

autor

Korzeb Zbigniew

• Department of Management, Economy and Finance, Bialystok University of Technology, o. Stefan Tarasiuk Street 2, 16-001 Kleosin, Poland

• https://orcid.org/0000-0001-9690-3842

autor

Niedziółka Paweł

• Institute of Banking, SGH Warsaw School of Economics

• https://orcid.org/0000-0002-1659-7310

autor

Torre de la Antonio

• Department of Financial Economics and Operations Management, University of Seville, Spain

• https://orcid.org/0000-0001-7839-0385

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