ESG Disclosure Regulation: In Search of a Relationship with the Countries Competitiveness

Alex Plastun, Inna Makarenko, Olena Kravchenko, Natalia Ovcharova and Zhanna Oleksich (2019). ESG disclosure regulation: in search of a relationship with the countries’ competitiveness. Problems and Perspectives in Management, 17(3), 76-88. doi:10.21511/ppm.17(3).2019.06

14 Pages Posted: 10 Oct 2019

See all articles by Oleksiy Plastun

Oleksiy Plastun

Sumy State University

Inna Makarenko

National Bank of Ukraine - Ukrainian Academy of Banking of the National Bank of Ukraine

Olena Krvchenko

Sumy State University

Natalia Ovcharova

Sumy State University

Zhanna Oleksich

Sumy State University

Date Written: July 26, 2019

Abstract

This paper is devoted to the investigation of environmental, social and governance (ESG) disclosure regulation process and its possible connection with countries’ competitiveness as an integral part of countries’ Corporate Social and Environmental Responsibility (CSER) poliсy. ESG disclosure regulation criteria were examined according to their classification on Pension Fund Regulation, Stewardship Code, Government Corporate ESG disclosure, and Non-Government Corporate ESG disclosure by UNPRI in 2016 and for developed countries and developing and emerging countries separately. In order to find the relationship between ESG disclosure and the countries’ competitiveness (describing by Global Competitiveness Index), variety of statistical tests was applied (Student’s t-tests, ANOVA analysis, Mann-Whitney tests, simple average analysis and regression analysis with dummy variables). Research hypotheses about statistically significant differences in ESG disclosure regulation between developed countries and developing and emerging countries and the influence of ESG disclosure regulation on the overall competitiveness of the country were proved. ESG disclosure regulation became an effective instrument of countries CSER policy and tools for increasing their competitiveness.

Keywords: country’s competitiveness, CSER, ESG disclosure, regulation

JEL Classification: M40, M41

Suggested Citation

Plastun, Oleksiy and Makarenko, Inna and Krvchenko, Olena and Ovcharova, Natalia and Oleksich, Zhanna, ESG Disclosure Regulation: In Search of a Relationship with the Countries Competitiveness (July 26, 2019). Alex Plastun, Inna Makarenko, Olena Kravchenko, Natalia Ovcharova and Zhanna Oleksich (2019). ESG disclosure regulation: in search of a relationship with the countries’ competitiveness. Problems and Perspectives in Management, 17(3), 76-88. doi:10.21511/ppm.17(3).2019.06, Available at SSRN: https://ssrn.com/abstract=3461291

Oleksiy Plastun (Contact Author)

Sumy State University ( email )

Rymskyi-Korsakov str., 2
Sumy, 40000
Ukraine

Inna Makarenko

National Bank of Ukraine - Ukrainian Academy of Banking of the National Bank of Ukraine

57, Petropavlivska str.
Sumy, 40030
Ukraine

Olena Krvchenko

Sumy State University

Rymskyi-Korsakov str., 2
Sumy, 40000
Ukraine

Natalia Ovcharova

Sumy State University

Rymskyi-Korsakov str., 2
Sumy, 40000
Ukraine

Zhanna Oleksich

Sumy State University

Rymskyi-Korsakov str., 2
Sumy, 40000
Ukraine

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