Wpływ kwestii ESG na stabilność finansową banków notowanych na giełdach Europejskich

Michał Boda; Marta Karaś

doi:10.26354/bb.6.2.91.2023

Published : 2023-07-28

Vol. 91 No. 2 (2023)

Impact of ESG on the financial stability of banks listed in Europe

Michał Boda

https://orcid.org/0000-0001-8959-632X

Marta Anita Karaś

https://orcid.org/0000-0003-2589-8147

DOI: https://doi.org/10.26354/bb.6.2.91.2023

Abstract

The paper presents the results of a study of the relationship between the ESG indicator and selected indicators of financial stability of banks. The empirical analysis was carried out using the system estimator of the generalized method of moments (system GMM, SGMM). The panel study uses data for 64 banks from 20 European countries for the years 2010-2021, including 9 dependent variables and 18 independent variables. The results show the existence of a non-linear relationship between the ESG indicator and the examined variables, robust for all performed analyzes. The results are important from the regulatory point of view, as they identify the impact of the transition towards ESG on the stability of the surveyed banks, and thus on the stability of the banking sector throughout Europe, with particular emphasis on the CEE region, for which such studies have not been published so far.

Keywords:

financial stability, ESG, system GMM, European banks

JEL Codes

G21, M14, Q56, C33

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Boda, M., & Karaś, M. (2023). Impact of ESG on the financial stability of banks listed in Europe. Safe Bank, 91(2). https://doi.org/10.26354/bb.6.2.91.2023

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