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How does Sustainability Improve Financial Performance? Economic Value of Innovation as Mediator Value

ФИО студента: Yu-chieh Hu

Руководитель: Elena Rogova

Кампус/факультет: St.Petersburg School of Economics and Management

Программа: Finance (Master)

Год защиты: 2021

In this research, a framework of how sustainability increases corporate financial performance is purposed and tested with empirical data. The sample base includes 138 US large companies. We argue that sustainability can be seen as an innovation, an innovated method of operating that could blend in and add economic value to other innovation, hence increase CFP. We successfully established economic value of innovation as a mediator variable using Baron and Kenny’s causal step (1986); different directions of effects are also addressed to provide rationality of the framework. The results provide an insight of the principle behind the relation of sustainability and CFP that could be used for both practical situation and further research.

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