Browsing by Author "Olorunsola, V.O."

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Do ESG and Diversity Scores Predict Global Firms’ Environmental Innovation?
(SAGE Publications Inc., 2024) Saydam, M.B.; Olorunsola, V.O.; Arici, H.E.; Koseoglu, M.A.
Environmental innovation (EI) is fundamental to sustainable development goal (SDG) number 9. Indirectly, it contributes to the achievement of SDG 7 by laying the groundwork for producing renewable energy. Firms involve environmental, social, and governance (ESG) and diversity practices to achieve sustainable success. ESG and diversity scores on EI need to be predicted, yet EI predictors are few in the research. Our institutional theory-based study examines whether ESG and diversity scores influence EI scores in multinational organizations. The dataset comprises information from the Refinitiv Eikon database, including 430 publicly traded firms worldwide throughout 2021. The results of our study indicate that the environmental pillar score, ESG, and workforce score are the three most significant factors for calculating enterprises’ EI scores. This research provides valuable insights into enhancing sustainability practices and fostering innovation in global firms, offering a practical roadmap for businesses striving to achieve these objectives.
Do ESG and Diversity Scores Predict Global Firms' Environmental Innovation?
(2024.01.01) Saydam, M.B.; Olorunsola, V.O.; Arici, H.E.; Koseoglu, M.A.
Environmental innovation (EI) is fundamental to sustainable development goal (SDG) number 9. Indirectly, it contributes to the achievement of SDG 7 by laying the groundwork for producing renewable energy. Firms involve environmental, social, and governance (ESG) and diversity practices to achieve sustainable success. ESG and diversity scores on EI need to be predicted, yet EI predictors are few in the research. Our institutional theory-based study examines whether ESG and diversity scores influence EI scores in multinational organizations. The dataset comprises information from the Refinitiv Eikon database, including 430 publicly traded firms worldwide throughout 2021. The results of our study indicate that the environmental pillar score, ESG, and workforce score are the three most significant factors for calculating enterprises' EI scores. This research provides valuable insights into enhancing sustainability practices and fostering innovation in global firms, offering a practical roadmap for businesses striving to achieve these objectives.
Environmental, social and governance assets and diversity scores: exploring their relationship to carbon emissions in global companies
(2024.01.01) Koseoglu, M.A.; Arici, H.E.; Saydam, M.B.; Olorunsola, V.O.
PurposeThe interconnected challenges of climate change and social inclusivity have placed unprecedented pressure on businesses to adopt responsible practices. While previous research has explored the individual impacts of environmental, social, and governance (ESG) performance and diversity initiatives, there remains a dearth of comprehensive investigations into how these factors collectively influence carbon emission scores. Drawing on the legitimacy theory, we explore whether ESG and diversity scores predict global companies' carbon emission scores. As concerns about the environmental impact of businesses grow, understanding the relationships between ESG performance, diversity management, and carbon emissions becomes imperative for sustainable corporate practices.Design/methodology/approachThe primary dataset for this study includes 1,268 worldwide firm-year data for 2021. The sample is subjected to missing data examination as a component of the filtration process. Data preprocessing is performed before machine learning analysis, including verifying missing data. Our research resulted in the final sample, which includes 627 worldwide firm data from 2021. Data regarding all publicly traded companies was obtained from Refinitiv Eikon.FindingsOur findings showed that corporate carbon emission performance in global corporations is influenced by ESG performance and total diversity score.Originality/valueFirms involve in ESG as well as diversity practices to be able to achieve sustainable success. Yet, the forecasting of carbon emissions based on ESG scores and diversity scores remains inadequately established due to conflicting findings and enigmas prevalent in the literature.
The predictive roles of financial indicators and governance scores on firms' emission performance in the tourism and hospitality industry
(2023.01.01) Olorunsola, V.O.; Saydam, M.B.; Arici, H.E.; Köseoglu, M.A.
The tourism and hospitality (T&H) industry can significantly impact the environment by using natural resources and waste generation. Measuring and improving firms’ emission performance in this industry is becoming increasingly important. However, the prediction of financial indicators and governance scores on firms’ emission performance is still poorly established. Drawing on the agency and stakeholders’ theory, our research explores whether financial indicators and governance scores predict firms’ emission performance in the T&H industry. Data on all companies that are publicly traded was acquired from Thomson Reuters Eikon using 485 publicly traded tourism firms as of the end of the fiscal year 2021. Our findings suggest that governance pillar score (GP), management score (MS), board size (BS), and market capitalization (MC) are the best four predictors of carbon emission reduction scores in T&H companies. Theoretical and practical implications are presented, and directions for further research are provided.
The predictive roles of financial indicators and governance scores on firms’ emission performance in the tourism and hospitality industry
(SAGE Publications Inc., 2024) Olorunsola, V.O.; Saydam, M.B.; Arici, H.E.; Köseoglu, M.A.
The tourism and hospitality (T&H) industry can significantly impact the environment by using natural resources and waste generation. Measuring and improving firms’ emission performance in this industry is becoming increasingly important. However, the prediction of financial indicators and governance scores on firms’ emission performance is still poorly established. Drawing on the agency and stakeholders’ theory, our research explores whether financial indicators and governance scores predict firms’ emission performance in the T&H industry. Data on all companies that are publicly traded was acquired from Thomson Reuters Eikon using 485 publicly traded tourism firms as of the end of the fiscal year 2021. Our findings suggest that governance pillar score (GP), management score (MS), board size (BS), and market capitalization (MC) are the best four predictors of carbon emission reduction scores in T&H companies. Theoretical and practical implications are presented, and directions for further research are provided.