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Determinants of insurance companies' environmental, social, and governance awareness
Author(s) -
Brogi Marina,
Cappiello Antonella,
Lagasio Valentina,
Santoboni Fabrizio
Publication year - 2022
Publication title -
corporate social responsibility and environmental management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.519
H-Index - 73
eISSN - 1535-3966
pISSN - 1535-3958
DOI - 10.1002/csr.2274
Subject(s) - corporate governance , business , accounting , insurance industry , corporate social responsibility , finance , actuarial science , public relations , political science
Environmental, social, and governance (ESG) criteria are increasingly important in all fields of economics. However, despite increasing interest from policy makers and financial regulators, literature relating to the insurance industry is still scarce. This paper aims to fill this gap by exploring the interaction between a set of financial ratios and environmental social governance scores of 107 large, listed US insurance companies for the period 2010–2018 for the purpose of identifying the determinants of ESG awareness. Larger, more profitable, and more solvent insurance companies show the highest level of ESG awareness. Our model contributes to shed light on the unfolding of ESG practices in the insurance industry.