ESG complementarities in the US economy
نویسندگان
چکیده
This paper investigates ESG from the perspective of changes in input elasticities substitution and complementarity. Rather than compute these cost function, we them Input Distance Function (IDF). Our data are Refinitiv Eikon Datastream database. We focus on US economy due to her global role world hence spillover effects uncertainties rest world. The consist 5,798 companies comprising 38 industries that span for 12 years 2009 2020 include: (i) financial sales, capital employees; (ii) two ratios (iii) three main indicators. Antonelli Elasticity Complementarity (AEC) Allen-Uzawa Substitution (AES) translog IDF function. find standard inputs have positive AEC elasticities; however, cross-elasticities exhibit negative signs, classifying as q-substitutes. Therefore, an increase one values leads a decrease marginal value other. On other hand, AES sign only Governance-Environment “doublet'; pairs implying they p-complements.
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ژورنال
عنوان ژورنال: European Journal of Finance
سال: 2022
ISSN: ['1351-847X', '1466-4364']
DOI: https://doi.org/10.1080/1351847x.2022.2157300