Vliv ESG na ekonomickou výkonnost firmy

The aim of this bachelor thesis is to examine impact of ESG on the economic performance of firm, including an introduction to the ESG and corporate social responsibility in relation to the economic theory. From the perspective of the theoretical economics there are presented ideas from the background of this topic – Concretely theory of stakeholders and shareholders, but also problematics of externalities as well. In this thesis, there is used Bloomberg ESG score for an impact analysis, which describes the intensity of firm’s filling of individual ESG metrics. Economic performance of the firm is presented by the variables describing its profitability (ROA, ROE) and market value (Tobin’s Q). Econometric analysis in the empirical part is performed through 2 sets of models using cross-sectional data chosen from countries of Visegrad group and European union. Data are as for the year 2022. Regarding to the outcomes of this analysis there can be seen rather negative impacts of overall ESG and its separate factors (E, S, G) on the chosen dependent variables. However, the exception is variable E explaining environmental factor which has significant positive impact on firm’s profitability and market value as well.