New paper on International CSR!

“What Drives Corporate Social Performance? International Evidence for Social, Environmental and Governance Scores”, with George Serafeim (HBS) – Download here from SSRN

Abstract: We investigate the institutional drivers of Corporate Social Performance (CSP) by focusing on its three fundamental components: social, environmental and governance performance. Using a large unique cross-section of firms from 42 countries over 7 years, we are able to explain 41, 46 and 63% of the variation in social performance, environmental performance, and corporate governance respectively, through a three level empirical specification (firm, industry and institutional level drivers). More specifically, we hypothesize that country institutions have a profound influence on CSP. We find that political institutions, followed by legal and labor market institutions are the most important country determinants of social and environmental performance. In contrast, legal institutions, followed by political institutions are the most important country determinants of governance. Capital market institutions appear to be less important determinants of CSP. Our results provide insights on the demand and supply forces that determine CSP internationally.

Biography

Professor Ioannou is a leading expert in sustainability leadership and corporate responsibility whose award-winning academic research provides valuable insights into the challenges and opportunities organizations face when developing sustainable business models. An Associate Professor at London Business School, his work focuses on strategic ESG integration and its implications for businesses and investors. He actively engages with leading companies, boards, and executives as a sought-after speaker, advisor, and author. Deeply involved with practice, he serves on advisory boards including the Sustainability Advisory Panel of Merck KGaA and the ESG Advisory Board of DWS Group. He is also a member of the World Economic Forum's Expert Network. Building on his experience advising organizations, he is interested in contributing further as a Non-Executive Director. His research is published in top journals, he is among the most cited scholars in his field, and he teaches popular courses on sustainability leadership and responsible business.

Upcoming Events

February 20, 2024

Prof. Ioannou will deliver a talk at the Family Office Conference at LBS

March 13, 2024

Prof. Ioannou will be delivering a keynote at CBS Center for Leadership Thinktank in Copenhagen.

March 14, 2024

Prof Ioannou will be keynoting ENGAGE.EU Think Tank 2024 in Bergen, Norway.