How to cite this paper
Surenthran, D., Ramasundaram, G., Vincent, D., Duraimurugan, S., Vasudevan, A., Hunitie, M & Mohammad, S. (2025). Sustainable finance: Predictive modeling of ESG indicators on Indian stock market.Uncertain Supply Chain Management, 13(2), 289-298.
Refrences
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Al Amosh, H., & Khatib, S. F. (2023). COVID‐19 impact, financial and ESG performance: Evidence from G 20 countries. Business strategy & development, 6(3), 310-321.
Beloskar, V. D., & Rao, S. N. (2023). Did ESG save the day? Evidence from India during the COVID-19 crisis. Asia-Pacific Financial Markets, 30(1), 73-107.
Bernini, F., & La Rosa, F. (2024). Research in the greenwashing field: concepts, theories, and potential impacts on economic and social value. Journal of Management and Governance, 28(2), 405-444.
Capelle-Blancard, G., & Petit, A. (2019). Every little helps? ESG news and stock market reaction. Journal of Business Ethics, 157, 543-565.
Chawla, N. A., & Sharma, D. P. C. (2020). Sustainable finance in emerging markets: Rational for Indian stock market and decision making for sustainable future. Journal of Commerce and Accounting Research, 9(4), 18-30.
Cerrato, D., & Ferrando, T. (2020). The financialization of civil society activism: Sustainable finance, non-financial disclosure and the shrinking space for engagement. Accounting, Economics, and Law: A Convivium, 10(2), 20190006.
Cunha, F. A. F. D. S., Meira, E., & Orsato, R. J. (2021). Sustainable finance and investment: Review and research agenda. Business Strategy and the Environment, 30(8), 3821-3838.
Dalal, K. K., & Thaker, N. (2019). ESG and corporate financial performance: A panel study of Indian companies. IUP Journal of Corporate Governance, 18(1), 44-59
de Souza Barbosa, A., da Silva, M. C. B. C., da Silva, L. B., Morioka, S. N., & de Souza, V. F. (2023). Integration of Environmental, Social, and Governance (ESG) criteria: their impacts on corporate sustainability performance. Humanities and Social Sciences Communications, 10(1), 1-18.
Feng, J., Goodell, J. W., & Shen, D. (2022). ESG rating and stock price crash risk: Evidence from China. Finance Research Letters, 46, 102476.
Garcia-Sanchez, I. M., Aceituno, J. V. F., & Domínguez, L. R. (2015). The ethical commitment of independent directors in different contexts of investor protection. BRQ Business Research Quarterly, 18(2), 81-94.
Gawęda, A. (2022). ESG Rating and Market Valuation of the Firm: Sector Approach. European Journal of Sustainable Development, 11(4), 91.
Hamdi, K., Guenich, H., & Ben Saada, M. (2022). Does corporate financial performance promote ESG: Evidence from US firms. Cogent Business & Management, 9(1), 2154053.
Karlapudi, P., & Reddy, G. N. (2022). ESG disclosure practices of power sector companies in India-a comparative study. Madhya Bharti, 82(14), 130-138.
Khan, M. (2019). Corporate governance, ESG, and stock returns around the world. Financial Analysts Journal, 75(4), 103-123.
Latapí Agudelo, M. A., Jóhannsdóttir, L., & Davídsdóttir, B. (2019). A literature review of the history and evolution of corporate social responsibility. International journal of corporate social responsibility, 4(1), 1-23.
Le, T. L., Goodell, J. W., Khalfaoui, R., Abakah, E. J. A., & Doğan, B. (2023). The impact of economic outlook on green finance: insights from linkages between green and inflation-indexed bonds. Environment, Development and Sustainability, 1-32.
Li, Z., Feng, L., Pan, Z., & Sohail, H. M. (2022). ESG performance and stock prices: evidence from the COVID-19 outbreak in China. Humanities and Social Sciences Communications, 9(1), 1-10.
Pareek, M. (2022). Making ESG Work: Examining the Changing ESG Regulations in India. Research Trends in Commerce & Management, Volume 2. Edition: First Chapter: 4Publisher: RED’MAC INTERNATIONAL PRESS & MEDIA. Available at SSRN: https://ssrn.com/abstract=4258206
Patel, J., Shah, S., Thakkar, P., & Kotecha, K. (2015). Predicting stock and stock price index movement using trend deterministic data preparation and machine learning techniques. Expert systems with applications, 42(1), 259-268.
Rao, A., Dagar, V., Sohag, K., Dagher, L., & Tanin, T. I. (2023). Good for the planet, good for the wallet: The ESG impact on financial performance in India. Finance Research Letters, 56, 104093.
Rupamanjari, R. S., & Sandeep, G. (2023). Impact of ESG score on financial performance of Indian firms: static and dynamic panel regression analyses. Applied Economics, 55, 15.Saini, Mohit & Dhingra, Barkha & Yadav, Mahender. (2022). ESG risk and financial performance of the Indian financial firms. International Journal of Governance and Financial Intermediation, 1 (4), 304-314.Salehi, M., Jamalikazemini, B., & Farhangdoust, S. (2018). Board compensation and disclosure quality: Corporate governance interference. Contaduría y administración, 63(4), 0-0.
Sarkar, S. (2022). Performance Evaluation Of ESG Funds In India-A Study. The Management Accountant Journal, 57(3), 40-47.
Saxena, S., & Singh, V. (2016). An analysis of the impact of ESG screening on financial performance of selected Indian companies. Vishwakarma Business Business Review, 6(2), 3376752.
Shaikh, I. (2022). Environmental, social, and governance (ESG) practice and firm performance: an international evidence. Journal of Business Economics and Management, 23, 218-237.
Supsermpol, P., Thajchayapong, S., & Chiadamrong, N. (2023). Predicting financial performance for listed companies in Thailand during the transition period: A class-based approach using logistic regression and random forest algorithm. Journal of Open Innovation: Technology, Market, and Complexity, 9(3), 100130.
Taliento, M., Favino, C., & Netti, A. (2019). Impact of environmental, social, and governance information on economic performance: Evidence of a corporate ‘sustainability advantage’from Europe. Sustainability, 11(6), 1738.
Varottil, U. (2024). The legal and regulatory impetus towards ESG in India: Developments and challenges. In Research Handbook on Environmental, Social and Corporate Governance (pp. 462-479). Edward Elgar Publishing.
Zhang, S. Y. (2022). Are investors sensitive to climate-related transition and physical risks? Evidence from global stock markets. Research in International Business and Finance, 62, 101710.
Zhou, D., & Zhou, R. (2021). ESG performance and stock price volatility in public health crisis: evidence from COVID-19 pandemic. International Journal of Environmental Research and Public Health, 19(1), 202.
Zhou, G., Liu, L., & Luo, S. (2022). Sustainable development, ESG performance and company market value: Mediating effect of financial performance. Business Strategy and the Environment, 31(7), 3371-3387.
Zumente, Ilze & Bistrova, Jūlija. (2021). ESG Importance for Long-Term Shareholder Value Creation: Literature vs. Practice. Journal of Open Innovation: Technology, Market, and Complexity, 7, 127.
Al Amosh, H., & Khatib, S. F. (2023). COVID‐19 impact, financial and ESG performance: Evidence from G 20 countries. Business strategy & development, 6(3), 310-321.
Beloskar, V. D., & Rao, S. N. (2023). Did ESG save the day? Evidence from India during the COVID-19 crisis. Asia-Pacific Financial Markets, 30(1), 73-107.
Bernini, F., & La Rosa, F. (2024). Research in the greenwashing field: concepts, theories, and potential impacts on economic and social value. Journal of Management and Governance, 28(2), 405-444.
Capelle-Blancard, G., & Petit, A. (2019). Every little helps? ESG news and stock market reaction. Journal of Business Ethics, 157, 543-565.
Chawla, N. A., & Sharma, D. P. C. (2020). Sustainable finance in emerging markets: Rational for Indian stock market and decision making for sustainable future. Journal of Commerce and Accounting Research, 9(4), 18-30.
Cerrato, D., & Ferrando, T. (2020). The financialization of civil society activism: Sustainable finance, non-financial disclosure and the shrinking space for engagement. Accounting, Economics, and Law: A Convivium, 10(2), 20190006.
Cunha, F. A. F. D. S., Meira, E., & Orsato, R. J. (2021). Sustainable finance and investment: Review and research agenda. Business Strategy and the Environment, 30(8), 3821-3838.
Dalal, K. K., & Thaker, N. (2019). ESG and corporate financial performance: A panel study of Indian companies. IUP Journal of Corporate Governance, 18(1), 44-59
de Souza Barbosa, A., da Silva, M. C. B. C., da Silva, L. B., Morioka, S. N., & de Souza, V. F. (2023). Integration of Environmental, Social, and Governance (ESG) criteria: their impacts on corporate sustainability performance. Humanities and Social Sciences Communications, 10(1), 1-18.
Feng, J., Goodell, J. W., & Shen, D. (2022). ESG rating and stock price crash risk: Evidence from China. Finance Research Letters, 46, 102476.
Garcia-Sanchez, I. M., Aceituno, J. V. F., & Domínguez, L. R. (2015). The ethical commitment of independent directors in different contexts of investor protection. BRQ Business Research Quarterly, 18(2), 81-94.
Gawęda, A. (2022). ESG Rating and Market Valuation of the Firm: Sector Approach. European Journal of Sustainable Development, 11(4), 91.
Hamdi, K., Guenich, H., & Ben Saada, M. (2022). Does corporate financial performance promote ESG: Evidence from US firms. Cogent Business & Management, 9(1), 2154053.
Karlapudi, P., & Reddy, G. N. (2022). ESG disclosure practices of power sector companies in India-a comparative study. Madhya Bharti, 82(14), 130-138.
Khan, M. (2019). Corporate governance, ESG, and stock returns around the world. Financial Analysts Journal, 75(4), 103-123.
Latapí Agudelo, M. A., Jóhannsdóttir, L., & Davídsdóttir, B. (2019). A literature review of the history and evolution of corporate social responsibility. International journal of corporate social responsibility, 4(1), 1-23.
Le, T. L., Goodell, J. W., Khalfaoui, R., Abakah, E. J. A., & Doğan, B. (2023). The impact of economic outlook on green finance: insights from linkages between green and inflation-indexed bonds. Environment, Development and Sustainability, 1-32.
Li, Z., Feng, L., Pan, Z., & Sohail, H. M. (2022). ESG performance and stock prices: evidence from the COVID-19 outbreak in China. Humanities and Social Sciences Communications, 9(1), 1-10.
Pareek, M. (2022). Making ESG Work: Examining the Changing ESG Regulations in India. Research Trends in Commerce & Management, Volume 2. Edition: First Chapter: 4Publisher: RED’MAC INTERNATIONAL PRESS & MEDIA. Available at SSRN: https://ssrn.com/abstract=4258206
Patel, J., Shah, S., Thakkar, P., & Kotecha, K. (2015). Predicting stock and stock price index movement using trend deterministic data preparation and machine learning techniques. Expert systems with applications, 42(1), 259-268.
Rao, A., Dagar, V., Sohag, K., Dagher, L., & Tanin, T. I. (2023). Good for the planet, good for the wallet: The ESG impact on financial performance in India. Finance Research Letters, 56, 104093.
Rupamanjari, R. S., & Sandeep, G. (2023). Impact of ESG score on financial performance of Indian firms: static and dynamic panel regression analyses. Applied Economics, 55, 15.Saini, Mohit & Dhingra, Barkha & Yadav, Mahender. (2022). ESG risk and financial performance of the Indian financial firms. International Journal of Governance and Financial Intermediation, 1 (4), 304-314.Salehi, M., Jamalikazemini, B., & Farhangdoust, S. (2018). Board compensation and disclosure quality: Corporate governance interference. Contaduría y administración, 63(4), 0-0.
Sarkar, S. (2022). Performance Evaluation Of ESG Funds In India-A Study. The Management Accountant Journal, 57(3), 40-47.
Saxena, S., & Singh, V. (2016). An analysis of the impact of ESG screening on financial performance of selected Indian companies. Vishwakarma Business Business Review, 6(2), 3376752.
Shaikh, I. (2022). Environmental, social, and governance (ESG) practice and firm performance: an international evidence. Journal of Business Economics and Management, 23, 218-237.
Supsermpol, P., Thajchayapong, S., & Chiadamrong, N. (2023). Predicting financial performance for listed companies in Thailand during the transition period: A class-based approach using logistic regression and random forest algorithm. Journal of Open Innovation: Technology, Market, and Complexity, 9(3), 100130.
Taliento, M., Favino, C., & Netti, A. (2019). Impact of environmental, social, and governance information on economic performance: Evidence of a corporate ‘sustainability advantage’from Europe. Sustainability, 11(6), 1738.
Varottil, U. (2024). The legal and regulatory impetus towards ESG in India: Developments and challenges. In Research Handbook on Environmental, Social and Corporate Governance (pp. 462-479). Edward Elgar Publishing.
Zhang, S. Y. (2022). Are investors sensitive to climate-related transition and physical risks? Evidence from global stock markets. Research in International Business and Finance, 62, 101710.
Zhou, D., & Zhou, R. (2021). ESG performance and stock price volatility in public health crisis: evidence from COVID-19 pandemic. International Journal of Environmental Research and Public Health, 19(1), 202.
Zhou, G., Liu, L., & Luo, S. (2022). Sustainable development, ESG performance and company market value: Mediating effect of financial performance. Business Strategy and the Environment, 31(7), 3371-3387.
Zumente, Ilze & Bistrova, Jūlija. (2021). ESG Importance for Long-Term Shareholder Value Creation: Literature vs. Practice. Journal of Open Innovation: Technology, Market, and Complexity, 7, 127.