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This study explores the relationship between Environmental, Social, and Governance (ESG) scores and financial performance in the global food and beverage industry. The study espouses quantitative research design and utilised dataset collected from Refinitiv Eikon, covering firm-year observations from 91 companies across different regions. Descriptive statistics reveals a mean ESG score of 59.762, indicating above-average transparency. Correlation analysis suggests weak relationships between ESG scores and financial indicators. Further, regression results show a positive impact of ESG scores on ROE, a non-significant relationship with ROA, and a negative impact on Tobin’s Q. These findings contribute to the ongoing debate on the connection between ESG practices and financial outcomes, providing insights into the specific context of the food and beverage industry. The study concludes by discussing the implications of the results and offered avenues for future research. JEL: G32; M14; O44 Article visualizations:
Sukman et al. (Tue,) studied this question.