Understanding the behavior of ESG in both OPEC and non‐OPEC countries? The implications for sustainable development reaching

• DOI: 10.1002/sd.2748
• Publication Date: 2023-09-18T04:10:13Z
• Authors: Xin‐Yu Peng; Xing‐Yun Zou; Xin‐Xin Zhao; Chun‐Ping Chang
• Keywords: Macro; Sample (material); Mean reversion

Abstract Environmental, social, and governance (ESG) performance has increasingly become the most pressing concern for governments, social organizations, companies, other stakeholders. Understanding macro ESG behavior can assist governments in achieving their sustainable development goals (SDGs). In this paper, we investigate whether index of OPEC non‐OPEC oil‐producing countries over period 1990–2020 exhibits mean‐reversion external shocks are transient or permanent. By conducting a series advanced panel stationarity tests, find that indices sample do not exhibit an shock permanent effect. We also identifies yearly structural breaks occur attempts to explain why. Our research suggests should use policy interventions counteract so as achieve long‐term stability.