July 25, 2025Open Access

Unlocking the Power of ESG: How ESG Scores Drive Firm Performance (ROE) with Firm Size as a Key Moderator : Evidence from Southeast Asia

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Empirical analysis finds ESG scores enhance profitability in firms, with size moderating the effect.

Higher esg scores correlate with improved firm performance, indicated by higher return on equity (roe).
Larger firms show a stronger relationship between esg scores and profitability compared to smaller firms.
The study analyzes panel data from companies in indonesia, malaysia, and singapore over an 11-year period.
Results underscore the need for adopting esg practices to enhance financial performance in southeast asia.

Baroto et al. (2025) studied this question.

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