[Agnese, P., Carè, R., Cerciello, M., & Taddeo, S. (2024). Reconsidering the impact of environmental, social and governance practices on firm profitability. Management Decision, in press. https://doi.org/10.1108/MD-10-2023-1943]Search in Google Scholar
[Aluchna, M. (2015). Strategies of sustainable business. Warsaw School of Economics.]Search in Google Scholar
[Behl, A., Kumari, P. S. R., Makhija, H., & Sharma, D. (2022). Exploring the relationship of ESG score and firm value using cross-lagged panel analysis: Case of the Indian energy sector. Annals of Operations Research, 313, 231–256. https://doi.org/10.1007/s10479-021-04189-8]Search in Google Scholar
[Berg, F., Kölbel J. F., & Rigobon, R. (2022). Aggregate confusion: The divergence of ESG ratings. Review of Finance, 26(6), 1315–1344. https://doi.org/10.1093/rof/rfac033]Search in Google Scholar
[Brockett, A., & Rezaee, Z. (2012). Corporate sustainability: Integrating performance and reporting. John Wiley & Sons.]Search in Google Scholar
[Bruna, M. G., & Lahouel, B. B. (2022). CSR & financial performance: Facing methodological and modeling issues commentary paper to the eponymous FRL article collection. Finance Research Letters, 44(2), 102036. https://doi.org/10.1016/j.frl.2021.102036]Search in Google Scholar
[Budsaratragoon, P., & Jitmaneeroj, B. (2019). Measuring causal relations and identifying critical drivers for corporate sustainability: The quadruple bottom line approach. Measuring Business Excellence, 23(3), 292–316. https://doi.org/10.1108/MBE-10-2017-0080]Search in Google Scholar
[Bumin, M., & Ertugrul, A. (2024). Effect of ESG scores on firm performance: Evidence from Borsa Istanbul Sustainability Index. International Journal of Academic Research in Business and Social Sciences, 14(4), 1033–1047. https://doi.org/10.6007/IJARBSS/v14-i4/21379]Search in Google Scholar
[Burchard-Dziubińska, M. (2014). Idea zrównoważonego rozwoju. In M. Burchard-Dziubińska, A. Rzeńca & D. Drzazga, Zrównoważony rozwój – naturalny wybór (pp. 9–33). Wydawnictwo Uniwersytetu Łódzkiego.]Search in Google Scholar
[Cobb, C. W., & Douglas, P. H. (1928). A theory of production. The American Economic Review, 18(1), 139–165.]Search in Google Scholar
[Daszyńska-Żygadło, K. (2013). Impact of CSR on operating financial results: The case of companies from RESPECT Index. In A. Długopolska-Mikonowicz, S. Przytuła, C. Stehr (Eds.), Corporate social responsibility in Poland (pp. 59–72). Springer. https://doi.org/10.1007/978-3-030-00440-8_5]Search in Google Scholar
[Dyllick, T., & Hockerts, K. (2002). Beyond the case for corporate sustainability. Business Strategy and the Environment, 11(2), 130–141. https://doi.org/10.1002/bse.323]Search in Google Scholar
[Elkington, J. (1997). Cannibals with forks: The triple bottom line of 21st century business. John Wiley & Sons.]Search in Google Scholar
[Fooladi, M. (2012). Board characteristics and firm performance. Journal of Modern Accounting and Auditing, .(5), 688–694.]Search in Google Scholar
[Freeman, R. E., & McVea, J. (2001). A stakeholder approach to strategic management. Darden School of Business Administration: University of Virginia, Working Paper, 01-02. https://doi.org/10.2139/ssrn.263511]Search in Google Scholar
[Galbreath, J. (2013). ESG in focus: The Australian evidence. Journal Business Ethics, 118, 529–541. https://doi.org/10.1007/s10551-012-1607-9]Search in Google Scholar
[Giovannoni, E., & Fabietti, G. (2013). What is sustainability? A review of the concept and its applications. In C. Busco, M. L. Frigo, P. Quattrone & A. Riccaboni (Eds.), Integrated reporting. Concepts and cases that redefine corporate accountability (pp. 21–40). Springer. https://doi.org/10.1007/978-3-319-02168-3_2]Search in Google Scholar
[Gond, J., Grubnic, S., Herzig, C., & Moon, J. (2012). Configuring management control systems: Theorizing the integration of strategy and sustainability. Management Accounting Research, 23(3), 205–223. https://doi.org/10.1016/j.mar.2012.06.003]Search in Google Scholar
[GPW Benchmark. (2022a). Card of the ESG-WIG Index. https://gpwbenchmark.pl/en-karta-indeksu?isin=PL9999998955]Search in Google Scholar
[GPW Benchmark. (2022b). Composition of the WIG-ESG Index after revision on March 18, 2022. https://gpwbenchmark.pl/pub/BENCHMARK/files/PDF/komunikaty_indeksowe/Portfele_WIG_WIG-Poland_WIG-CEE_WIG-Ukraine_WIGdiv_WIG-ESG_2022_03_11.pdf]Search in Google Scholar
[Gray, R. (2010). Is accounting for sustainability actually accounting for sustainability... and how would we know? An exploration of narratives of organisations and the planet. Accounting Organizations and Society, 35(1), 47–62. https://doi.org/10.1080/0969160X.2011.556420]Search in Google Scholar
[Jha, M. K., & Rangarajan, K. (2020). Analysis of corporate sustainability performance and corporate financial performance causal linkage in the Indian context. Asian Journal of Sustainability and Social Responsibility, 5(1), 1–30. https://doi.org/10.1186/s41180-020-00038-z]Search in Google Scholar
[Jones, D. C. (1993). The productivity effects of employee ownership within command economies: Evidence from Poland. Managerial and Decision Economics, 14(5), 475–485. https://doi.org/10.1002/mde.4090140511]Search in Google Scholar
[Kantabutra, S., & Ketprapakorn, N. (2020). Toward a theory of corporate sustainability: A theoretical integration and exploration. Journal of Cleaner Production, 270, 122292. https://doi.org/10.1016/j.jclepro.2020.122292]Search in Google Scholar
[Knežević, B., & Škrobot, P. (2021). Sustainable development in corporate strategy. In M. Stefańska (Ed.), Sustainability and sustainable development (pp. 71–82). Poznań University of Economics and Business Press. https://doi.org/10.18559/978-83-8211-074-6/II1]Search in Google Scholar
[Li, L., Saat, M. M., Khatib, S. F. A., Chu, P., & Sulimany, H. G. H. (2024). Navigating the impact: A comprehensive analysis of ESG disclosure consequences through systematic review. Business Strategy & Development, 7(2), e382. https://doi.org/10.1002/bsd2.382]Search in Google Scholar
[Lu, L., & Taylor, M. (2016). Which factors moderate the relationship between sustainability performance and financial performance? A meta-analysis study. Journal of International Accounting Research, 15(1), 1–15. https://doi.org/10.2308/jiar-51103]Search in Google Scholar
[Mensah, J. (2019). Sustainable development: Meaning, history, principles, pillars, and implications for human action: Literature review. Cogent Social Sciences, 5(1), 1–21. https://doi.org/10.1080/23311886.2019.1653531]Search in Google Scholar
[Mikołajek-Gocejna, M. (2024). The relationship between ESG rating and firm value— evidence from companies listed on Polish Capital Market in the WIG-ESG index. Central European Economic Journal, 11(58), 141–158. https://doi.org/10.2478/ceej-2024-0011]Search in Google Scholar
[Nizam, E., Ng, A., Dewandaru, G., Nagayev, R., & Nikoba, M. A. (2019). The impact of social and environmental sustainability on financial performance: a global analysis of the banking sector. Journal of Multinational Financial Management, 49, 35–53. https://doi.org/10.1016/j.mulfin.2019.01.002]Search in Google Scholar
[Nollet, J., Filis, G., & Mitrokostas, E. (2016). Corporate social responsibility and financial performance: A non-linear and disaggregated approach. Economic Modelling, 52, 400–407. https://doi.org/10.1016/j.econmod.2015.09.019]Search in Google Scholar
[Oželienė, D. (2017). A review of enterprise sustainable development models: Critical appraisal. International Scientific Journal “Science. Business. Society”, 2(2), 257–263.]Search in Google Scholar
[Perrini, F., Russo, A., Tencati, A., & Vurro, C. (2011). Deconstructing the relationship between corporate social and financial performance. Journal of Business Ethics, 102(1), 59–76. https://doi.org/10.1007/s10551-011-1194-1]Search in Google Scholar
[Przychodzeń, W. (2013). Zrównoważone przedsiębiorstwo. Teoria, praktyka, wycena, nauczanie. Poltext.]Search in Google Scholar
[Sanders, N. R., & Wood, J. D. (2015). Foundations of sustainable business. John Wiley & Sons.]Search in Google Scholar
[SDSN (Sustainable Development Solution Network). (2013). An action agenda for sustainable development. United Nations Publishing.]Search in Google Scholar
[Sikacz, H., & Wołczek, P. (2018). ESG analysis of companies included in the RESPECT Index based on Thomson Reuters EIKON database. Research Papers of Wroclaw University of Economics, 520, 115–127. https://doi.org/10.15611/pn.2018.520.10]Search in Google Scholar
[Soana, M. -G. (2011). The relationship between corporate social performance and corporate financial performance in the bank sector. Journal of Business Ethics, 104(1), 133–148. https://doi.org/10.1007/s10551-011-0894-x]Search in Google Scholar
[Tran, T. H., & Pham, H. (2022). How do environmental, social and governance reporting promote sales? Empirical evidence from global firms. Journal of Strategic Marketing, 32(1), 1–19. https://doi.org/10.1080/0965254X.2022.2118816]Search in Google Scholar
[Tuppura, A., Arminen H., Pätäri, S., & Jantunen, A. (2016). Corporate social and financial performance in different industry contexts: The chicken or the egg? Social Responsibility Journal, 12(4), 672–686. https://doi.org/10.1108/SRJ-12-2015-0181]Search in Google Scholar
[UN (United Nations). (2012). Future we want. United Nations Publishing.]Search in Google Scholar
[Waddock, S. A., & Graves, S. B. (1997). The corporate social performance financial performance link. Strategic Management Journal, 18(4), 303–319. https://doi.org/10.1002/(SICI)1097-0266(199704)18:4<303::AID-SMJ869>3.0.CO;2-G]Search in Google Scholar
[Wagner, M. (2010). The role of corporate sustainability performance for economic performance: A firm-level analysis of moderation effects. Ecological Economics, 69(7), 1553–1560. https://doi.org/10.1016/j.ecolecon.2010.02.017]Search in Google Scholar
[WCED (World Commission on Environment and Development). (1987). Our common future. Oxford University Press.]Search in Google Scholar
[Witkowska, J. (2016). Koszty i korzyści społecznej odpowiedzialności przedsiębiorstw. In Z. Wysokińska & J. Witkowska, Zrównoważony rozwój. Wybrane aspekty makro- i mikroekonomiczne (pp. 155–160). Wydawnictwo Uniwersytetu Łódzkiego.]Search in Google Scholar
[Xiao, C., Wang, Q., van der Vaart, T., & van Donk, D. P. (2018). When does corporate sustainability performance pay off? The impact of country-level sustainability performance. Ecological Economics, 146, 325–333. https://doi.org/10.1016/j.ecole-con.2017.11.025]Search in Google Scholar
[Yilmaz, I. (2021). Sustainability and financial performance relationship: International evidence. World Journal of Entrepreneurship, Management and Sustainable Development, 17(3), 537–549. https://doi.org/10.1108/WJEMSD-10-2020-0133]Search in Google Scholar
[Zhao, X., & Murrell, A. J. (2016). Revisiting the corporate social performance-financial performance link: A replication of Waddock and Graves. Strategic Management Journal, 37(11), 2378–2388. https://doi.org/10.1002/smj.2579]Search in Google Scholar
[Ziegler, A., Schröder, M., & Rennings, K. (2007). The effects of environmental and social performance on the stock performance of European corporations. Environmental and Resource Economics, 37(4), 661–680. https://doi.org/10.1007/s10640-007-9082-y]Search in Google Scholar