Unveiling the impact of firm-characteristics on sustainable development goals disclosure: A cross-country study on non-financial companies in Asia

Abstract

This study examines the practices of the UN Sustainable Development Goals (SDGs) in Asian countries with special reference to listed firms in China, India, Indonesia, Japan, Malaysia, Singapore, and Saudi Arabia. Further, it evaluates the impact of firms’ specific factors on SDGs practices. The original sample consists of 1462 companies for the 2018–2021 financial years. Data are extracted from the Refinitiv Eikon Database. One-way ANOVA and regression analysis are used to estimate the data. Results reveal that there is a significant difference in SDGs practices among the elected countries. Moreover, results reveal that Return on Assets (ROA), Return on Equity (ROE), market value added, leverage, and current ratio have a negative and significant impact on SDGs practices, while the Earnings per Share (EPS) has a positive and significant impact on SDGs practices. This research contributes to the existing literature by making a comparison among the Asian largest economies regarding the achievement of UN sustainable development goals.