Factors Determining Sustainable Financial Performance: Evidence from Emerging Markets of South East Asia
摘要
The global climate is undergoing substantial changes due to the extensive use of cost-effective energy sources, particularly fossil fuels and coal, which are major contributors to carbon emissions. This paper seeks to present new insights on the interconnections between corporate social responsibility (CSR), innovation, green investments, corporate governance, and sustainable financial outcomes. The study focuses on firms that comply with the ISO 14001 environmental quality standard, aiming to assess the relationships among these variables and provide recommendations for adopting green technological innovations. The research is based on a sample of companies from Pakistan, India, and China that have embraced this environmental standard. Data was gathered through a well-structured questionnaire, distributed to company officials and management via online channels and social media platforms. The findings reveal a significant and positive correlation between green investment, corporate governance, CSR, innovation, and sustainable financial performance. Furthermore, corporate governance serves as a critical moderator in the relationship between green investment and sustainable financial performance, as well as between CSR and financial performance.