The Role of Sustainability in Brand Equity Value in the Financial Sector
Abstract
:1. Introduction
2. Literature Review
2.1. Intangible Assets and Brand Value
2.2. Sustainability Brands and Financial Performance
2.3. Sustainability Brands and the Financial Sector
2.4. Sustainability Brands and Marketing Strategies
3. Model, Methodology and Data
3.1. Model
3.2. Method
3.3. Data
4. Empirical Results
5. Conclusions, Managerial Implications, limitations and Further Research
Author Contributions
Funding
Acknowledgments
Conflicts of Interest
Appendix A. Model Validation Graphs
References
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Latent Variables | Observable Variables | |
---|---|---|
Financial situation | Intangibility | Measured intangible assets |
ROA | Return on assets | |
PER | Price–earnings ratio | |
Index Growth | Average growth of relevant index | |
Social factors | ESG score | Environmental and Social Governance index |
Women Directors | Share of female directors | |
Women Employed | Share of women employed | |
Unobserved factors | Region | US/EUR |
Time | Year variable |
Mean | Median | Std. Dev | Max | Min | |
---|---|---|---|---|---|
Brand Value | 157.5 | 47,775.99 | 733,090.4 | −97,977.6 | |
Intangibility | 0.077 | 0.037 | 0.001 | 0.799 | |
ROA | 5.930 | 4.881 | 0.09 | 235.4 | |
PER | 1631 | 535 | 46.8 | 141,828 | −35,206 |
ESG | 36.861 | 37.191 | 0.151 | 78.512 | 3.509 |
Women Directors | 74.81 | 80.00 | 0.179 | 100.00 | 0.00 |
Women Employed | 36.94 | 35.00 | 0.160 | 84.7 | 6.0 |
Dependent Variable: | |
---|---|
Brand Value | |
Intangibility | 16,732.2 * |
(8978.9) | |
ROA | −205.64 * |
(81.6) | |
PER | 4.2 *** |
(0.1) | |
ESG score | 648.2 *** |
(81.0) | |
Women Directors | 103.1 * |
(52.8) | |
Women Employed | 8.1 |
(56.9) | |
Index growth | 38,296.8 |
(3085.9) | |
Region (U.S.) | 11,290.0 *** |
(3085.9) | |
Constant | −44,198.7 *** |
(7497.0) | |
Observations | 2467 |
R | 0.281 |
Adjusted R | 0.278 |
F-Statistic | 80.101 *** (df = 12; 512) |
Variable | Test Statistic |
---|---|
Intangibility | 1.012 |
ROA | 1.069 |
PER | 1.073 |
ESG score | 1.086 |
Women Directors | 1.349 |
Women Employed | 1.047 |
Index Growth | 3.732 |
Region | 2.419 |
Year | 3.396 |
Variable | Model |
---|---|
Statistic | 689.72 |
Degrees of freedom | 12 |
p-value | 0 |
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Ajour El Zein, S.; Consolacion-Segura, C.; Huertas-Garcia, R. The Role of Sustainability in Brand Equity Value in the Financial Sector. Sustainability 2020, 12, 254. https://doi.org/10.3390/su12010254
Ajour El Zein S, Consolacion-Segura C, Huertas-Garcia R. The Role of Sustainability in Brand Equity Value in the Financial Sector. Sustainability. 2020; 12(1):254. https://doi.org/10.3390/su12010254
Chicago/Turabian StyleAjour El Zein, Samer, Carolina Consolacion-Segura, and Ruben Huertas-Garcia. 2020. "The Role of Sustainability in Brand Equity Value in the Financial Sector" Sustainability 12, no. 1: 254. https://doi.org/10.3390/su12010254
APA StyleAjour El Zein, S., Consolacion-Segura, C., & Huertas-Garcia, R. (2020). The Role of Sustainability in Brand Equity Value in the Financial Sector. Sustainability, 12(1), 254. https://doi.org/10.3390/su12010254