Integrace ESG a výkonnost firem v sektoru nemovitostí: Komparativní analýza společností Mirvac Group a Vonovia SE (2018–2024)

This thesis examines the relationship between ESG (Environmental, Social, and Governance) integration and firm performance in the real estate sector, with a comparative analysis of Mirvac Group in Australia and Vonovia SE in Germany over the period 2018–2024. The study aims to evaluate whether stronger ESG performance is associated with improved financial outcomes, measured through indicators such as Return on Assets (ROA) and Return on Equity (ROE). ESG performance will be captured using standardized ESG scores obtained from reliable databases. The empirical analysis will be based on a regression model, where firm performance serves as the dependent variable, ESG score as the key independent variable, and additional control variables such as firm size, leverage, and market conditions are included. The comparative perspective allows for the assessment of how different institutional and regulatory environments, particularly the more developed ESG framework in the European Union compared to Australia, influence the ESG–performance relationship. The findings are expected to contribute to the existing literature by providing insights into the economic implications of ESG integration in the real estate sector and by highlighting the role of institutional context in shaping firm outcomes.