ESG a finanční výkonnost v technologickém sektoru: Empirická analýza veřejně obchodovaných firem

This diploma thesis analyzes the relationship between ESG (Environmental, Social, Governance) factors and the financial performance of publicly traded technology companies. The aim of the thesis is to empirically verify the impact of ESG on profitability, market performance, risk, and the cost of capital. The theoretical part summarizes the main approaches to the relationship between ESG and financial indicators and places the issue within the current geopolitical and regulatory context. The empirical part is based on cross-sectional data from technology companies and performs regression analysis to test the formulated hypotheses. The results indicate that the impact of ESG on financial performance is not the same across all observed areas. While in some cases a positive relationship is evident, particularly in relation to the risk profile and cost of capital, the results for profitability and market performance are partially mixed. The thesis thus confirms that ESG functions more as a risk management tool rather than as driver of financial performance growth.