This Dissertation consists of two essays. The first essay studies the causal impacts of compensation disclosure on executive compensation, turnover, and executives’ job responsibilities. We find that, after the SEC mandates the disclosure of Chief Financial Officers (CFOs)’ compensation in 2006, CFO pay increases significantly relative to CEO pay, particularly in firms most affected by the mandate. CFOs are more likely to leave their firms following poor performance. The results are absent for the CEO or other executives, suggesting they are unique outcomes of enhanced CFO compensation disclosures. The evidence is consistent with more intense monitoring following the disclosure mandate. CFOs require additional compensation for the loss of private benefits due to greater monitoring and are subject to greater internal discipline. There is also some evidence that the CFOs hide bad news and lower corporate reporting quality after the mandate, suggesting that CFOs engage in more short-term behavior to boost their performance and avoid termination. The second essay of my dissertation focuses on the idiosyncratic volatility puzzle - the negative relation between estimated idiosyncratic volatility and the subsequent month returns documented by Ang et al (2006). We document a systematic pattern of temporary increases in the estimated idiosyncratic volatility for the quintile of stocks with the highest estimated idiosyncratic volatility in a given month. A large portion of this temporary increase in the estimated idiosyncratic volatility is reversed in the subsequent month. This temporary increase in the idiosyncratic volatility for the quintile of stocks with the highest estimated idiosyncratic volatility is associated with relatively large positive returns (positive abnormal returns) in the estimation month and relatively low returns (negative abnormal returns) in the subsequent month. Our evidence shows that these temporary increases in the estimated idiosyncratic volatility and the related positive and negative abnormal returns in the estimation and subsequent months, respectively, create a negative relation between the estimated idiosyncratic volatility and subsequent month returns documented in the prior literature (Ang et al. 2006). We find no significant relation between idiosyncratic volatility and subsequent returns for eighty percent of the stocks that do not exhibit large changes in idiosyncratic volatility despite large differences in the levels of their idiosyncratic volatility. Finally, there is no relation between the estimated idiosyncratic volatility and subsequent returns after a lag of 3 months when the abnormal returns associated with temporary changes are no longer present. Overall, our results are consistent with the notion that there is no relation between the true underlying idiosyncratic volatility and expected returns, and that the previously documented negative relation between estimated idiosyncratic volatility and subsequent month’s returns is being driven by temporary one-month increases in the estimated idiosyncratic volatility and the associated abnormal returns for a subset of stocks. / Ph. D.

Yes / Studies find that oil-rich African countries (OACs) suffer slow socio-economic growth and development. The petroleum operations in these countries are also primarily in the hands of multinational corporations (MNCs). Motivated by their profit maximisation prospects (PMPs), the MNCs face significant corporate social responsibility (CSR) dilemmas with reference to their contribution to the socio-economic growth of these African economies. Even though there are few studies on CSR and corporate financial performance (CFP) within the African context, little or no attention has been paid to how and the extent to which MNCs' PMPs, CSR and CFP interact to affect the socio-economic growth of OACs. Drawing from legitimacy, institutional, and agency theories we employ a panel data approach covering 14 years (2003–2017) to understand the drivers of these PMPs, how PMPs affect corporate ethical considerations, and CFP and their implications on OACs' socio-economic growth. We find that PMPs of MNCs within OACs impede their CSR commitment. There is a significant positive relationship between CSR and CFP; efficient CSR practices impact CFP positively, and MNCs' contribution to OACs' socio-economic growth is significantly constrained by weak institutional environments. We conclude that institutional reforms and strategic investment in CSR could foster rapid socio-economic growth and development within OACs. Our study contributes to policy and knowledge on MNC's PMPs, CSR practices, CFP and literature on business ethics and the natural resource-curse.

Titel: Kulturens modererande effekter på sambandet mellan CSR och CFP Nivå: Examensarbete på grundnivå (kandidatexamen) i ämnet företagsekonomi. Författare: Ferdous Foroughi och Shabab Hasan Handledare: Jan Svanberg Datum: 2019 - juni Syfte: Företagens sociala ansvar (CSR) har utvecklats till ett viktigt ämne både för företag och dess intressenter. Varierande resultat gällande effekten av CSR-insatser på företagsprestanda har tidigare rapporterats. Tidigare studier undersöker och fokuserar på en liten del av CSR med många olösta teoretiska och empiriska frågor till följd av detta. Det har även visats att kultur påverkar beslutsfattandet i synnerhet i relation till CSR. Syftet är därmed att undersöka om nationell kultur har modererande effekter på sambandet mellan CSR och finansiell prestation (CFP) hos börsnoterade bolag i världen.   Metod: Studiens vetenskapsteoretiska utgångspunkt är positivism med hypotetiskt-deduktiv ansats. En kvantitativ forskningsstrategi används för 3230 börsnoterade företag med data från en femårsperiod 2013 - 2017. Datan baseras på sekundärdata inhämtad från Thomson Reuters Eikon, Världsbanken och Hofstedes kulturindex, vilken analyserats med univariata och bivariata statistiska tester samt multipla regressionsanalyser i statistikprogrammet IBM SPSS Statistics. Resultat & slutsats: Det finns ett positivt samband mellan CSR och CFP. Nationella kulturer har modererande effekter på det sambandet. Genom att använda Hofstedes kulturdimensioner har det visats att maktdistans (PD), osäkerhetsundvikande (UAI), maskulinitet (MAS) och långtidsorientering (LTO) har negativ modererande effekter, medan individualism (IDV) och tillfredsställelse (IND) har positiv modererande effekter på sambandet mellan CSP och CFP. Examensarbetets bidrag: Studien bidrar med ny kunskap för att fylla forskningsgapet gällande nationella kulturers modererande effekter på sambandet mellan CSR och finansiell prestation. Studien bidrar på ett värdefullt sätt till både tidigare teori och empiri samt lyfter fram nationella kulturers påverkande roll för företagens finansiella prestation. Förslag till vidare forskning: Det behövs flera liknande studier med andra variabler som kontrollerar och analyserar sambandet. Vidare föreslår vi också att genomföra en liknande studie som även inkluderar icke-börsnoterade bolag, för att omfatta flera länder och dessutom en längre tidsperiod än fem år för att se om nationella kulturer påverkar sambandet på ett annat sätt. Nyckelord:Corporate social responsibility, corporate social performance, corporate financial performance, nationell kultur, Hofstedes kulturdimensionsteori. / Title: Culture’s moderating effects on the relationship between CSR and CFP Level: Student thesis for Bachelor’s Degree in Business Administration Authors: Ferdous Foroughi och Shabab Hasan Supervisor: Jan Svanberg Date: 2019 - june Aim: Corporate Social Responsibility (CSR) has been developed to become an important subject for both corporates and their stakeholders. Varying results have been reported regarding the effect of CSR initiatives. Prior studies investigate and focus on a small part of CSR with following unresolved theoretical and empirical questions. It has also been shown that culture affects decision making, particularly in relation to CSR. The aim of this study is hence to investigate whether national culture has moderating effects on the relationship between CSR and corporate financial performance (CFP) among listed corporations in the world. Method: A positive research methodology has been applied with a hypothetical-deductive approach. A quantitative research strategy is used for 3230 listed corporations with data from a five-year time period 2013 - 2017. Data is based on secondary data from Thomson Reuters Eikon, World Bank and Hofstedes cultural index, which were analyzed with univariate, bivariate and multivariate analyses in the statistical software IBM SPSS Statistics. Result & Conclusion: There is a positive correlation between CSR and CFP. National cultures have moderating effects on that correlation. Using Hofstede's cultural dimensions, it has been shown that power distance (PD), uncertainty avoidance index (UAI), masculinity (MAS) and long-term orientation (LTO) have negative moderating effects, while individualism (IDV) and indulgence (IND) have positive moderating effects on the relationship between CSP and CFP. Contribution of the thesis: The study contributes with new knowledge to fill the research gap regarding national cultures’ moderating effects on the relationship between CSR and financial performance. The study contributes in an insightful way to both prior theory and empirical data and emphasizes the role of national cultures on the corporates’ financial performance. Suggestion for future research: Several similar studies are needed with other variables that control and analyze the relationship. Furthermore, we also propose to carry out a similar study that also includes non-listed companies, to include several countries and, moreover, a longer time period than five years to see if national cultures affect the relationship in another way. Keywords:Corporate social responsibility, corporate social performance, corporate financial performance, national culture, Hofstede’s cultural dimension theory.

Syfte: Det ställs idag högre krav på att företag inte enbart kan fokusera på att tjäna pengar utan att de också måste börja ta ansvar för miljö, samhälle och ekonomi. Till följd av de ökade kraven på företagen har vikten av begreppet Corporate social responsibility (CSR) ökat de senaste årtiondena. En populär inriktning hos tidigare studier inom området CSR är om CSR påverkar företagets finansiella prestation (CFP), vilka visat på motsägelsefulla resultat. Dock har forskning identifierat ett äkthets-gap mellan företags uttalade ansvarstagande och vad som i verkligheten utförs. Det har även konstaterats att en CSR-kommitté samt att konsekvent CSR påverkar äktheten i CSR. Syftet med denna studie är därför att undersöka hur äktheten hos investeringar i Corporate social responsibility, CSR, med avseende på hur en CSR-kommitté och konsekvent CSR, påverkar företagens lönsamhet, CFP. Metod: Studien antar en positivistisk forskningsfilosofi med en hypotetiskt deduktiv ansats. Utifrån ett kvantitativt tillvägagångssätt har sekundärdata inhämtats från databasen Thomson Reuters Datastream. En longitudinell design har använts där data har inhämtats över en sexårsperiod där det slutgiltiga urvalet har analyserats med hjälp av multipla regressionsanalyser i statistikprogrammet IBM SPSS. Resultat & slutsats: Studien visar att lönsamheten är högre hos företag som innehar en CSR-kommitté, än för företag utan CSR-kommitté, vilket indikerar att företag genom ett äkta engagemang i CSR uppnår ökad lönsamhet. Ledningens benägenhet att förmedla socialt ansvarstagande leder till ett bättre samarbete med företagets intressenter som ger ett högre finansiellt utfall. Förslag till fortsatt forskning: Studier som undersöker företags konsekventa CSR-aktiviteter över en längre tidsperiod för att identifiera effekterna av den nya hållbarhetslagen. Eftersom förekomsten av en CSR-kommitté påverkar företags lönsamhet önskar vi även ytterligare forskning angående vilka faktorer som kan förstärka eller försvaga utfallet. Uppsatsens bidrag: Ur ett teoretiskt perspektiv bidrar denna studie till redovisningslitteraturen genom att undersöka sambandet mellan finansiell prestation och äktheten hos bolagens CSR-motiv. Ur ett praktiskt perspektiv kan denna studie vara betydelsefull för företag som planerar att implementera en CSRkommitté eftersom detta bidrar till företags lönsamhet. / Aim: Todays’ companies are facing an increased demand from society that they need to shift their priorities from just making money to being socially responsible. Due to the increased demand, the importance of the concept Corporate social responsibility (CSR) has also increased in the last decades. A popular branch in prior CSR studies has been to investigate if CSR-investments affects the Corporate financial performance (CFP) which has shown conflicting results. However, previous research has identified an authentic gap between what companies are promising and what they implement in reality. Therefore the aim with this study is to investigate how authentic investments in CSR, with regard to how a CSR committee and consistent CSR, influence corporate financial performance (CFP). Method: The study is based on the philosophy of positivism with a hypothetical deductive approach. Secondary data has been collected from Thomson Reuters Datastream with a quantitative approach. A longitudinal design has been used where data has been collected over a period of six years and the final sample has been processed and analyzed with regression analysis in IBM SPSS. Result & Conclusions: This study shows that companies’ financial performance is higher in the presence of a CSR-committee, which indicates that a company by engaging in authentic CSR-activities gets a higher financial performance. Management preferences to communicate the company's social responsibility results in a better financial performance due to a better relationship with the stakeholders Suggestions for future research: Suggestions for future research may investigate how the consistency of companies CSR is influenced by the new legislation over a longer period of time. Since the CSR-committee is influential for the financial performance we would also like to see further studies involving factors that might weaken or strengthen this relationship. Contribution of the thesis: From a theoretical perspective this study contributes to the accounting literature by investigating the relationship between financial performance and authentic CSR motives. From a practical perspective this study can be of interest for companies that are planning to implement a CSR-committee since this is an influential factor for the financial performance.

Submitted by Mariana Dornelles Vargas (marianadv) on 2015-05-21T17:51:48Z No. of bitstreams: 1 crise_financeira.pdf: 2510044 bytes, checksum: 47cbe8e20f5fb7074788788160ce47d0 (MD5) / Made available in DSpace on 2015-05-21T17:51:48Z (GMT). No. of bitstreams: 1 crise_financeira.pdf: 2510044 bytes, checksum: 47cbe8e20f5fb7074788788160ce47d0 (MD5) Previous issue date: 2011-05-31 / Nenhuma / A política de dividendos tem sido um dos temas mais controversos em finanças corporativas nos últimos anos, no que concerne a sua definição, por parte dos gestores, afetar ou não o valor da companhia. Sendo esta uma das questões ainda não completamente resolvidas em finanças corporativas, buscou-se identificar quais os fatores influenciaram as políticas de dividendos das empresas brasileiras com ações negociadas na BM&F Bovespa, entre 1995 e 2009, e observar como se comportaram tais políticas ante a crise financeira internacional de 2008/2009. Foi a aplicada técnica de Regressão Linear Múltipla sobre dados em painel nas amostras global e segmentadas por setor, para o objetivo de identificar os fatores, e o teste de diferença de médias para o exame do efeito da crise. No presente estudo, que teve como variável dependente a política de dividendos, substituiu-se o termo 'dividendos' por 'proventos', pois este último abrange a distribuição total, em dinheiro, em relação ao lucro líquido, envolvendo, também, os juros sobre o capital próprio, sendo chamado de índice Pay Out (PO). Os resultados indicaram relação negativa entre o retorno e o PO e positiva entre o endividamento e o PO, ambas significantes. Ao passo que os fatores tamanho, investimento e folga financeira não apresentaram significância estatística nas relações com o PO. Ambos, retorno e endividamento, apresentaram sinais de influência, surpreendentemente, contrários aos resultados encontrados em estudos anteriores. Em contrapartida, o PO passado resultou positivamente relacionado com o PO corrente, com significância estatística, conforme o esperado. Por fim, os efeitos da crise não alteraram, significativamente, os PO. O estudo ratificou um dos resultados de Lintner (1956), válido até hoje em diversos ambientes, também encontrado em tantos outros estudos, qual seja: indícios de que as empresa procuram seguir políticas de proventos estáveis e agradáveis ao "olhar" dos mercados e dos investidores. / The dividend policy has been one of the most controversial subjects in corporate finance in the past years, mainly about its definition to affect or not the firms value. As the dividend policy is one of the issues not yet fully solved in corporate finance, the aims of this study were to identifies which factors influenced the dividend policies of Brazilian firms traded on the BM & F Bovespa, between 1995 and 2009, and to observe how behaved such policies before the international financial crisis by 2008/2009. Was applied a multiple linear regression on panel data in the aggregate sample and segmented by sector to the purpose of identifying factors, and difference of means test to examine the effect of the crisis. In the present study, which was as dependent variable dividend policy, replaced the term dividends for proceeds, because this last covers the entire distribution in cash, compared to net earnings, involving also the interest on equity, called Pay Out (PO). The results indicated a negative relationship between return and PO and positive relationship between debt and PO, both significant. While the factors size, investment and financial slack did not showing statistical significance in relations with the PO. Both return and debt, showed signs of influence, unexpected, contrary to results found in previous studies. In contrast, the PO passed resulted positively related with PO current, with statistical significance, as expected. Finally, the effects of the crisis did not changing significantly the PO's. The study has ratified one of the results of Lintner (1956), valid even today in many markets, also found in many other studies, namely: evidences that firms tend to follow dividends policy stable and pleasant to the look of markets and investors.

This study investigates the relationship between corporate social performance (CSP)and corporate financial performance (CFP) within the context of a particular CSPelement: environmental investment. Two models of the determinants of companies’environmental investment are estimated in order to capture the difference betweenfirms’ actual and expected level of environmental investment. The regressionresiduals are used as our measure of corporate social performance. Both market-basedand accounting-based measures of financial performance are applied to representcorporate financial performance. With the analysis of a sample encompassing 223Chinese heavy-polluting companies, we have found that it is more likely to observe asignificantly positive relationship between firms’ environmental endeavors and theiraccounting-based financial performance among firms that are more active to disclosecorporate information. Besides, building on our empirical findings that corporatesocial performance is positively correlated with accounting-based financialperformance but has no correlation with market-based financial performance, wesuggest a priority for managers from Chinese heavy-polluting industries when theyfulfill social demands of various stakeholders.

Στην μελέτη αυτή εξετάζονται μία σειρά από συναφή ζητήματα τα οποία συνδέονται άρρηκτα μεταξύ τους: Α) Πως μετριούνται οι κοινωνικές επιδόσεις των εταιρειών; Β) Ποιες συνέπειες μπορεί να έχει μία καλή κοινωνικώς απόδοση; Γ) Ποιες σχέσεις τεκμηριώνονται εμπειρικώς ανάμεσα στην απόδοση σε κοινωνικούς όρους και στην απόδοση σε οικονομικούς όρους. Δ) Είναι εφικτό ένα κοινωνικό συμβόλαιο μεταξύ επιχειρήσεων και κοινωνίας; Ποια μορφή μπορεί αυτό να πάρει; Ε) Τι ρόλους καλείται να παίξει και πως η Κοινωνική Λογιστική των Εταιρειών; Ποια επιμέρους είδη Κοινωνικής Λογιστικής έχουν αναπτυχθεί και ποιες σκοπιμότητες-χρησιμότητες υπηρετούν; ΣΤ) Τι εννοείτε ως ηθική συμπεριφορά στον Τραπεζικό τομέα; Ζ) Case-Study: «Η Alpha Bank» / In this study i examine, throw desk research, a series of related issuew which are closely connected: A) How the Corporate Social Performance is measured? B) What consequences can have a socially good performance? C) Which relationships are empirically documented between corporate social performance and corporate financial performance? D) Is it feasible a social Contract between corporation and society? E) Which roles has been called the Micro-Social Accounting to play? What kinds of Micro-Social Accounting have been developed and which scope does each serve? F) What do we mean as ethical behaviour in banking sector? G) Case-Study: “Alpha Credit Bank”

Background: Sustainability reporting has become increasingly important for firms that want to appease their stakeholders and the society, whilst possibly increasing the corporate financial performance (CFP) of the firm. This is because sustainability disclosures currently work as the main channel for firms to inform their stakeholders of the CSR practices and environmental management carried out by the company. However, there have been various previous studies that examine the relation between corporate social performance (CSP) or the reported CSP, and CFP but not a study that would focus on GRI’s adherence level and its effect on Firm value (FV). The adherence level in the context of a GRI Report refers to the extent to which the GRI Sustainability Reporting Framework and GRI Standards have been applied to a company’s sustainability report (Global Reporting Initiative, n.d.). This study intends to examine if stakeholders can be affected by a sustainability report’s adherence ranking made by GRI, although there necessarily would not be a clear connection to a company’s actual environmental performance.  Purpose: The purpose of this study is to find out if the adherence level affects a firm’s value and how, although this classification of reports would not say anything about a company’s level of sustainability or a company’s sustainability performance. In short, the study wants to examine if stakeholders or the society surrounding a company are affected by the adherence level of a company’s GRI reporting and if this then can affect the value of the organization in any way. Aim: The aim of this research is to encourage organizations to become more transparent or elaborate regarding their sustainability practices if any significance between the adherence level and the FV can be found.  Method: This study was conducted by examining 98 European manufacturing firms’ GRI adherence levels for the years 2017 to 2019 and comparing them to respective Firm Values (Tobin’s Q) by the usage of panel data regression analysis.  Conclusion: The results show that no significant relationship between the GRI adherence level and FV can be found in the European manufacturing industry for the period 2017 to 2019.

Any mitigation action will neglect climate change impacts (CCI) (Gillett et al., 2011: 83; Parry et al., 2009: 1102) occurring in a change of average weather patterns as well as in an increase in frequency and magnitude of extreme weather events (EWE) (IPCC, 2007: 8 and 52 f.; IPCC, 2012: 119 f.). For this thesis of special interest are businesses of the construction industry. Construction activities are carried out in an open environment which makes the construction companies´ highly impacted on weather conditions compared to many other sectors (Wedawatta et al., 2010: 364). Furthermore, the construction sector is a fundamental part in any economy (Wedawatta, et al. 2010: 365; Squicciarini and Asikainen, 2011: 672). In mitigation literature a sound amount of studies researches on the relation of corporate fi-nancial performance (CFP) and emissions. Guenther et al. (2012) analyzed empirical studies with regard to their connection between environmental and financial performance of corpo-rations whereby the majority of results implement a positive as well as negative relation. Therefore, this thesis investigates a possible association of implemented measures as re-sponse to the CC and the financial performance on a corporate level. In particular, the aim of this thesis is to analyze the association between corporate financial performance (CFP) and implemented climate change adaptation measures (CCAM) especially for companies of the construction industry. For providing a solid base for this point of interest the affection for construction businesses by CC and the response to the CCI of construction businesses is in-vestigated in addition. For the investigation of an association between CCAM and CFP the statistical methodology of regression was applied. The results clearly support the raised hypothesizes by computing a relationship between these variables in both directions. The results gained in this thesis stress adaptation to CC as a crucial proxy to handle CCI by mitigating risks and exploiting oppor-tunities. Nevertheless, still a reluctant attitude of businesses exists for the implementation of CCAM. This was found in literature and could be reassured by the results of the content analysis since businesses connote CCAM often with increasing cost and expenses and do not draw back on the effect on financial performance. This thesis found a positive effect of im-plemented CCAM on ROA on the short-run. These findings do refer to appropriate CCAM in terms of the right amount. For the opposite direction it was investigated, that if a construc-tion business is financially impacted by CC, an increase in slack causes the implementation of adaptation measures. By the implementation of adaptation measures the dependency from environmental changes is increased (RDT) and the companies´ structure becomes more het-erogenic (RBV). Financial slack is proved to be important to keep the company flexible in taking action. Especially, if a company is financially impacted by CCI financial slack is used for implementing measures.:1 Introduction 2 Theory 2.1 Resource Dependence Theory 2.2 Resource Based View 2.3 Organizational Slack 3 State of Research 3.1 Introduction to Climate Change Adaptation 3.2 Climate Change Mitigation and Adaptation Literature dealing with CFP 3.3 Financial Implication of CCI and CCAM 3.4 Climate Change Impacts and Adaptations Measures on Construction Enterprises 3.4.1 Construction Enterprises and their specific Value Chain 3.4.2 CCI on Construction Enterprises 3.4.3 CCAM for Construction Enterprises 3.5 Hypothesis development 4 Methodology 4.1 Content Analysis 4.2 Regression Analysis 4.2.1 Multiple Linear Regression Analysis 4.2.2 Poisson and Negative Binominal Regression Analysis 4.3 Model description 4.3.1 Operationalization of the Content Analysis 4.3.2 Operationalization of the Regression Analysis 5 Results 5.1 Results of the Content Analysis 5.2 Results of the Regression Analysis 5.2.1 Results of the Multiple Linear Regression 5.2.2 Results of the Negative Binomial Regression 6 Discussion, Limitation, and Further Research 6.1 Discussion of Results for the Association between CFP and CCAM 6.2 Limitations and Further Research 7 Conclusion

Syfte: Det finns idag en förväntan från ägare, kunder och andra intressenter att företag ska rapportera sitt hållbarhetsarbete då hållbarhet vanligtvis syftar till att ta ansvar för sina egna behov samtidigt som den framtida generationen står i fokus. Banksektorn spelar en stor roll i samhället genom deras roll som kapitalleverantörer för den globala utvecklingen, vilket leder till att det också finns ett stort intresse av att de arbetar med hållbarhetsfrågor. En hållbar banksektor är av väsentlig betydelse för ett lands hållbarhetsmål och fortsatta utveckling. Syftet med studien är därmed att undersöka sambandet mellan bankers hållbarhetsprestation, mätt med SOC-Score, och lönsamheten inom den globala banksektorn med fokus på socialt ansvar. Metod: Detta är en kvantitativ studie utförd med en hypotetisk-deduktiv ansats. Sekundärdata har samlats in från Thomson Reuters databas Refinitiv Eikon där 341 banker har analyserats med en longitudinell design för åren 2016–2020. Univariat, bivariat samt multivariat analys av sekundärdata har skett i statistikprogrammet SPSS. Resultat & slutsats: Resultatet av studien visar att det saknas signifikant samband mellan SOC-Score och de beroende variablerna ROA och ROE på den globala banksektorn. Detta medför att studien inte kan dra några direkta slutsatser om det finns ett positivt samband eller inte mellan dessa variabler. Trots att studien saknar signifikant samband, visar studiens regressionsanalyser ändock på att SOC-Score och lönsamheten har en mer negativ relation än en positiv. Examenarbetets bidrag: Studien bidrar till ökad kunskap gällande sambandet mellan finansiell prestation och socialt hållbarhetstagande inom den globala banksektorn. Vi författare hoppas även kunna främja ett mer hållbart arbetssätt.  Förslag till fortsatt forskning: Trots att studien inte genererade ett signifikant samband i banksektorn, visade studiens resultat på ett negativt samband mellan lönsamheten och SOC-score. Det vill säga att det uppstår en kostnad att hållbarhetsrapportera. Vi författare anser att det hade varit intressant att jämföra banker som inte hållbarhetsrapporterar, för att se om de bankerna har sämre lönsamhet än de banker som hållbarhetsrapporterar. Även om det är kostsamt att arbeta med hållbarhet, kanske det ändå är mer lönsamt än att inte göra det alls. Vidare skulle även avgränsningar kunna göras, eventuellt att fokusera på ett visst land eller världsdel.