Academics and professionals alike are highly interested in Corporate Social Responsibility (CSR), Corporate Governance (CG), environmental, social, and governance (ESG) and corporate non-financial reporting (CNFR) and how they can improve a brand’s reputation, financial efficiency, and sustainability within businesses and organisations. The main objective of our study was to examine whether the financial data of large companies can be correlated with the data in their non-financial reports and provide information on the level of corporate governance and corporate responsibility and to examine the correlation between them. For this purpose, we conducted research by examining the 100 largest companies in Greece, over a period of 3 years, collecting both financial and non-financial data from their official reports. Using appropriate quantitative tools such as similarity, classification and econometric methods (stepwise method and panel least-squares method), the correlations between the data for CSR, CG and non-financial actions and key financial performance ratios are evaluated. Our research has revealed a strong link between financial performance and ESG actions of large companies and, in particular, we demonstrated the positive correlation of CSR performance with their total assets and whether they are listed on the stock exchange, and of CG with CSR and EBITDA. This study adds to the existing academic discourse on the relationship between financial and non-financial information of corporations in the areas of Corporate Responsibility and Governance and provides a valuable way to assess the decisions of businesses.

中文翻译：

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探索公司治理、企业社会责任与财务和非财务报告之间的关系：对希腊大公司的研究

学者和专业人士对企业社会责任 (CSR)、企业治理 (CG)、环境、社会和治理 (ESG) 以及企业非财务报告 (CNFR) 以及如何提高品牌声誉和财务效率非常感兴趣，以及企业和组织内的可持续性。我们研究的主要目的是检验大公司的财务数据是否可以与其非财务报告中的数据相关联，并提供有关公司治理和企业责任水平的信息，并检验它们之间的相关性。为此，我们在 3 年的时间里对希腊 100 家最大的公司进行了研究，从他们的官方报告中收集了财务和非财务数据。使用相似性、分类和计量经济学方法（逐步法和面板最小二乘法）等适当的定量工具，评估企业社会责任、企业管治和非财务行为数据与关键财务绩效比率之间的相关性。我们的研究揭示了大公司的财务绩效与 ESG 行动之间存在密切联系，特别是，我们证明了企业社会责任绩效与其总资产以及是否在证券交易所上市之间的正相关性，以及企业社会责任与企业社会责任和 EBITDA 之间的正相关性。这项研究补充了企业责任和治理领域关于企业财务和非财务信息之间关系的现有学术论述，并为评估企业决策提供了一种有价值的方法。