Ajay_Kumar_Faculty_Research_Seminar_Presentation.pptx

Ajay_Kumar_Faculty_Research_Seminar_Presentation.pptx

1. Faculty Research Seminar Presentation Presenter: Dr. Ajay 8/22/2024 FRS IIM Bodhgaya 1

2. Brief Academic Journey 8/22/2024 FRS IIM Bodhgaya 2 AP-Aug23-Till Now BIRM-2007-10 PGDAS-2011-12 MA ECO-2012-14 M Phil Eco-2015-16 PhD-2016-22 Education History AP-Mar23-Aug23 Academic Experience

3. Revisiting the Influence of Corporate Sustainability Practices on Corporate Financial Performance : Evidence from the Global Energy Sector Journal: Business Strategy and Environment- 2022 8/22/2024 FRS IIM Bodhgaya 3

4. Research Focus: Corporate sustainability and financial performance Study Context: Global energy sector Methodology: Estimated generalized least square method on balanced panel data 8/22/2024 FRS IIM Bodhgaya 4

5. Introduction Corporate Sustainability Performance and Reporting (CSPR) The integration of environmental, social, and governance (ESG) factors into corporate strategies and practices. Corporate Financial Performance (CFP): Indicators such as Return on Assets (ROA) and Return on Capital Employed (ROCE). Objective: To extend the debate on the curvilinear relationship between CSPR and CFP in the global energy sector 8/22/2024 FRS IIM Bodhgaya 5

6. Background Importance of the Energy Sector: High emissions and significant environmental impact. Contributes one third of global pollutants. Existing Literature: Mixed findings on the CSPR-CFP relationship. 8/22/2024 FRS IIM Bodhgaya 6

7. Research Questions and Hypotheses Main Research Question: How does CSPR influence CFP in the global energy sector? Hypotheses: 1. There is a curvilinear relationship between CSPR and CFP. 2. Earnings significantly moderate this relationship. 8/22/2024 FRS IIM Bodhgaya 7

8. Theoretical Framework Signaling Theory: CSPR as a signal to reduce information asymmetry. 8/22/2024 FRS IIM Bodhgaya 8

9. Methodology Data Source: Bloomberg database, S&P Global Platts Top 250 Global Energy Firms (2006-2018). Sample Size: 3211 firm-year observations. Method: Estimated Generalized Least Squares (EGLS). 8/22/2024 FRS IIM Bodhgaya 9

10. Variables and Measurement Independent Variable: ESG score (environmental, social, governance). Dependent Variable: CFP (measured by ROA and ROCE). Control Variables: Firm size, cost of capital, profitability. Moderator: Earnings Strategy . Base Model: 8/22/2024 FRS IIM Bodhgaya 10

11. Empirical Findings (1/2) Curvilinear Relationship: - Significant inverted U-shaped relationship between CSPR and CFP. Environmental and Social Attributes: - Significant inverted U-shaped relationship. Governance Attribute: - Initially insignificant but becomes significant with earnings as a moderator. 8/22/2024 FRS IIM Bodhgaya 11

12. Empirical Findings (2/2) Moderating Role of Earnings: - High Earnings: Strengthen the inverted U-shaped relationship. - Low Earnings: Linear relationship, indicating strategic use of CSPR for window dressing in loss-making firms. 8/22/2024 FRS IIM Bodhgaya 12

13. Conclusion Curvilinear relationship & Earnings as a significant moderator. Value-Cost Trade-off TMGT Effect Implications for Management - Strategic planning for sustainable development in the energy sector. Contribution to Literature- Provides new insights into the CSPR-CFP 8/22/2024 FRS IIM Bodhgaya 13

14. Contributions to IIM Bodhgaya Research Agenda : Focus on sustainability in emerging markets Initiate study on sustainability in the Indian energy sector, establish industry partnerships, and apply for grants. Expand research scope, publish initial findings, Organize international conferences, influence policy development, and plan future research directions. Teaching: Develop new courses on Corporate Sustainability Introduce real-world case studies, host practical workshops. Create interdisciplinary modules, launch online courses, mentor student projects. Community Engagement: Engage with local businesses on sustainability practices Develop ongoing industry partnerships for practical exposure. Conduct policy workshops to translate research into actionable insights. 8/22/2024 FRS IIM Bodhgaya 14

15. Future Research Directions Next Steps: Need for exploring other sectors and different moderating variables. Effects of ESG practices in emerging markets Long-term Goals: Develop a model integrating Corporate Sustainable Reporting Practices with financial performance forecasting 8/22/2024 FRS IIM Bodhgaya 15

16. List of Publications Kaura , P., Kumar, A., (2024). "Mapping the Trajectory of Sustainable Finance Research: An Analyzing Using Bibliometric Approach." Int. J. of Data Mining, Modelling and Management. (Accepted, Listed in ESCI IF 0.5 and SCOPUS) Kumar, A., Gupta, J., and Das, N. (2022). "Revisiting the Influence of Corporate Sustainability Practices on Corporate Financial Performance: An Evidence from Global Energy Sector." Business Strategy and the Environment, 31(7), 3231–3253 (Listed in ABDC A, ABG/ABS 3, SSCI IF 13.4, SCOPUS) Kumar, A., Gupta, J., and Das, N. (2022). "Community resilience, corporate social responsibility, and local economic development: The case of coal mining in India." The Extractive Industries and Society., 11, 101120 (Listed in SSCI IF 3.1, SCOPUS) Kumar, A., and Das, N. (2021). "A Text-Mining Approach to the Evaluation of Sustainability Reporting Practices: Evidence from a Cross-Country Study." PROBLEMY EKOROZWOJU, 16(1), 51-60. (Listed in SSCI IF 1.1, SCOPUS) Mishra, P. S., Kumar, A., and Das, N. (2020). "Corporate Sustainability Practices in Polluting Industries: Evidence from India, China, and the USA." PROBLEMY EKOROZWOJU, 15(1), 161-168. (Listed in SSCI IF 1.1, SCOPUS) Kumar, A., and Das, N. (2018). "Sustainability Reporting Practices in Emerging Economies: A Cross-Country Study of BRICS Nations." PROBLEMY EKOROZWOJU, 13(2), 17-25. (Listed in SSCI IF 1.1, SCOPUS) 8/22/2024 FRS IIM Bodhgaya 16

17. Thank You Invitation for Questions Open floor for discussions Contact Information: [email protected] [email protected] 8/22/2024 FRS IIM Bodhgaya 17