Abstract This research paper will look at the impact of CSR on corporate financial performance in the Egyptian stock market. The study employs the fixed-effects panel data regression analysis to examine 32 companies that are listed in the S&P/EGX ESG Index between 2017 and 2024, bringing 256 observations. The financial performance measures examined in the study include the return on assets (ROA), the return on equity (ROE), the return on sales (ROS), and the return on invested capital (ROIC). Findings indicate that CSR has a significant and positive influence on all the financial performance measures. The highest relationship was found in ROE (0.769), followed by ROS (0.680), ROIC (0.657), and ROA (0.586). All models were significant statistically, which shows strong evidence of a CSR-performance relationship in the emerging markets. The suggested work organizes the empirical evidence to the new market situation in Egypt, which is applicable to the gap in the researches on CSR-performance relations in the developing economies and can offer useful information to managers, investors and policy makers of the analogous markets. There are policy implications in the findings that are of importance to the emerging market regulators and policymakers. Governments must consider supportive structures such as tax breaks, subsidies and awards to promote the adoption of CSR since the practices have proven to improve corporate financial wellbeing and the expansion of social welfare goals in general. The fact that the S&P/EGX ESG Index has been able to find financially superior companies supports its further growth and implies that mandatory ESG reporting rules would help the market to work more efficiently because they would allow allocating more capital to socially responsible and high-performing companies. The outcomes present evidence-based reasons as to why policymakers in such emerging economies ought to consider CSR not as a means of regulation but as a mechanism of pursuing economic growth and societal progress at the same time.

This study aims to examine the relationship between family ownership (FAMOW) and a firm's financial performance, including return on assets (ROA), return on equity (ROE), and Tobin’s Q. Additionally, it seeks to determine whether, in the case of non-financial enterprises in Bangladesh, the relationship between FAMOW and firm performance is moderated by risk-taking behavior and leverage. Secondary data from 2010 to 2021 were collected from 228 listed non-financial firms on the Dhaka Stock Exchange (DSE). The study's findings indicate that while Tobin's Q (TQ) is negatively significant with family ownership, return on equity (ROE) and return on assets (ROA) are positively significant. FAMOW has a positive and statistically significant relationship with both ROA and ROE, with coefficients of 0.008 and 0.005, respectively. The moderating influence of risk-taking behavior and leverage was not examined in the previous study; however, this study expands on the findings by including risk-taking behavior and leverage as moderators. Taking into consideration the findings of the inquiry, it is recommended that family firms operating in economies that are still in the process of growth prioritize the establishment of a robust corporate governance structure. As a result of implementing suitable governance measures, it has been established that the impacts of familial ownership on business performance are either amplified or moderated.

This study analyzes the impact of geopolitical risk and trade balance on the performance of Vietnamese listed firms over the period 2016–2024, using an unbalanced panel of 588 firms. The study employs a dynamic panel System Generalized Method of Moments (System GMM) estimator to address endogeneity, unobserved firm-specific effects, heteroskedasticity, and serial correlation. The empirical findings indicate that geopolitical risk exerts a positive and statistically significant effect on both return on assets (ROA) and return on equity (ROE). This suggests that, in the context of global supply chain realignments and capital reallocation, Vietnamese listed firms have been able to leverage new opportunities created by geopolitical tensions. In contrast, the trade balance shows a negative and significant relationship with firm performance, implying that improvements in the aggregate trade balance are associated with lower efficiency at the firm level. This result reflects the structural dependence of Vietnamese firms on imported raw materials, machinery, and intermediate inputs. Control variables such as firm size, tangible assets, liquidity, Tobin’s Q, and net working capital improve performance, while high financial leverage and the COVID-19 shock reduce it. Moderate inflation contributes positively to firm performance. The study offers new empirical evidence on the role of geopolitical risk and trade balance in shaping corporate performance in an emerging, export-oriented economy and provides policy implications for regulators, investors, and corporate managers.

This study has two main objectives: (i) to explore the relationship between capital structure (CS) and firm performance (FP) among non-financial firms listed on the Egyptian Exchange (EGX30), and (ii) to analyze how agency costs (AC) influence this relationship as a moderator. The research uses Panel Least Squares (PLS) to examine how AC affects the association between CS and FP. The sample includes 200 firm observations annually from 20 non-financial firms listed on the Egyptian Stock Exchange (EGX30) from 2014 to 2023. The debt-to-equity ratio (D/E) measures CS, while return on equity (ROE) assesses FP. The asset utilization ratio (AUR) gauges AC. Results indicate that CS positively affects FP. Additionally, AC demonstrates a positive moderating effect on the relationship between CS and FP. To the best of the authors’ knowledge, this is the first study to examine the moderating influence of AC on the association between CS and FP in Egypt.

Against the background of the deep penetration of the digital economy into the real economy, digital transformation has become a core path for enterprises to optimize resource allocation and enhance competitiveness. However, a unified understanding has not yet been formed regarding the interactive mechanism between capital structure — the core of financing decisions—and digital transformation as well as corporate performance. This paper takes Chinese A-share non-financial listed companies from 2015 to 2024 as the research sample, using data from the CSMAR database and annual report text analysis, and employs a panel data model to empirically test the interactive relationship among the three. The results show that: there is a short-term weak negative non-linear correlation between digital transformation and corporate performance, reflecting the inhibitory effect of costs in the initial stage of transformation; capital structure plays an intermediary role, but the current high debt and transformation costs form a superimposed constraint, jointly inhibiting performance; among control variables, return on equity (ROE) and revenue growth rate positively drive performance, while firm age shows an efficiency attenuation characteristic, and the model results are reliable with heterogeneous impacts of transformation; the framework of "digital transformation-capital structure-corporate performance" is initially established, but the performance feedback effect needs to be deepened, and the cyclic mechanism of the three requires verification with long-term data.

This study aims to investigate the relationship between dividend policy, financial performance, and Corporate Social Responsibility (CSR) through a comprehensive literature review approach. Dividend policy remains a critical financial decision that not only reflects a firm's profitability but also signals its commitment to stakeholders, including its social and environmental responsibilities. The study employs a qualitative, descriptive method based on a systematic review of 20 peer-reviewed journal articles published between 2010 and 2024. The analysis reveals that dividend policy has a significant positive impact on financial performance indicators such as Return on Assets (ROA), Return on Equity (ROE), and Net Profit Margin. However, the interaction between dividend policy and CSR is more nuanced: firms with high CSR commitments tend to retain earnings for long-term sustainability projects, while firms with low CSR scores often use high dividend payouts as a signaling mechanism. Additionally, contextual factors such as governance quality, firm size, industry type, and regional economic conditions play moderating roles. The findings suggest the need for an integrative framework that considers both financial and non-financial dimensions in dividend policy formulation. This study contributes to the literature by bridging the gap between financial decision-making and stakeholder theory, offering practical insights for managers, investors, and policymakers.

This study aims to analyze the effect of company size, Debt to Equity Ratio (DER), and Return on Equity (ROE) on the Dividend Payout Ratio (DPR) of food and beverage manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the period 2019-2024. This research adopts a quantitative approach with multiple linear regression analysis processed using SPSS. The sample of the study consists of 18 companies that meet the purposive sampling criteria. The results show that company size has a positive and significant effect on the Dividend Payout Ratio. However, Debt to Equity Ratio and Return on Equity do not have a significant effect on Dividend Payout Ratio, either partially or simultaneously. These findings suggest that other factors, beyond company size, play a more significant role in influencing dividend policies in the food and beverage manufacturing sector in Indonesia.

This study investigates the interplay between asset quality, financial ratios, and market valuation in Indian commercial banks over a twelve-year period (2014–2025). Using a hybrid approach combining Structural Equation Modeling, correlation analysis, and trend evaluation, the research examines whether Non-Performing Assets (NPAs) influence market capitalization directly or through Return on Equity (ROE) as an intermediary. The findings reveal that NPAs exert a significant negative impact on both ROE and market value, while Net Interest Margin (NIM) emerges as a strong positive determinant of valuation. Conversely, Capital Adequacy Ratio (CAR), though vital for regulatory compliance, shows no direct effect on market prices. Mediation analysis challenges conventional assumptions, indicating that profitability alone does not fully explain valuation dynamics. These insights underscore the need for integrated strategies addressing asset quality and operational efficiency, offering practical implications for policymakers, investors, and bank management in strengthening resilience and optimizing shareholder value.

The purpose of this study is to examine how profitability ratios such as Gross Profit Margin (GPM), Net Profit Margin (NPM), Operating Profit (OP), Return on Equity (ROE), Return on Investment (ROI), Return on Assets (ROA), Earning Power (EP), and Earning per Share (EPS) have developed during the period between 2020 and 2024 in the mining sub-sector. This study analyzes five issuers on the Indonesia Stock Exchange: BRMS, ESSA, ANTM, INCO, and MDKA. The secondary data used are annual financial reports and closing stock prices as of December 31, which are analyzed using quantitative descriptive methods. The results show that most profitability ratios experienced a significant increase during the 2021–2022 period as a result of post-pandemic economic recovery and rising commodity prices worldwide. However, in the 2023–2024 period, profitability performance tended to decline as a result of increased operational cost pressures and falling commodity prices. Although not always applicable to every issuer, the movement of mining companies' stock prices shows a fluctuating pattern that is usually correlated with changes in profitability. These results provide an overview of the financial conditions and stock market dynamics in the mining industry, which investors can consider when making investment decisions.

This study examines the impact of bank soundness ratio (based on the Risk-Based Bank Rating (RBBR) method) on financial performance via the environmental, social, and governance (ESG) framework within Islamic governance and social responsibility in Indonesian Islamic commercial banks (Sharia banks). The sustainability of Islamic banks is attained not solely through corporate performance, dictated by financial ratios, but also by a focus on global concerns, specifically environmental, social, and banking governance (Adu et al., 2024; Pasko et al., 2022). This study utilizes data from all Islamic commercial banks in Indonesia, with a sample for 2018–2022, and employs moderating regression analysis. The findings indicate that liquidity risk, financing, operating, and capital adequacy (RBBR), Islamic social reporting (ISR), and Islamic corporate governance (ICG) significantly impact Sharia banking performance. ICG effectively moderates the relationship between RBBR and ISR on Sharia banking financial performance. ICG can enhance the health of Sharia banks and their awareness of social responsibility, thereby positively influencing their performance. The Financial Authority can use these insights to enhance risk management and ISR regulations in Sharia banks. This study reveals discrepancies with prior studies, where return on equity (ROE) yielded superior outcomes to return on assets (ROA). This study identifies ICG’s significance in enhancing RBBR and ISR impact on banking performance within Sharia banking, a topic unexplored by scholars.

This study aims to analyze the effect of implementing Good Corporate Governance (GCG) and business ethics on the financial performance of PT Bank Mandiri (Persero) Tbk. The study employs a quantitative method with a descriptive-verificative approach, using secondary data from the financial and governance reports of Bank Mandiri for the 2021–2023 period. Data were analyzed using multiple linear regression supported by classical assumption tests, the t-test, F-test, and coefficient of determination (R²).The findings reveal that both GCG and business ethics positively and significantly influence financial performance, either partially or simultaneously. An increase in GCG and business ethics scores contributes to improvements in Return on Assets (ROA), Return on Equity (ROE), and Net Interest Margin (NIM).

Risk management has become a critical function in modern banking due to increasing financial volatility, regulatory pressures, and globalization. This study examines the impact of risk management practices on bank performance by comparing banks operating in emerging and developed markets. Using secondary data from selected commercial banks across both market categories, the study analyzes how credit risk, liquidity risk, operational risk, and capital adequacy influence profitability and financial stability. Bank performance is measured using Return on Assets (ROA), Return on Equity (ROE), and Net Interest Margin (NIM). The findings reveal that effective risk management practices significantly enhance bank performance in both emerging and developed markets, although the magnitude and direction of impact vary across regions. The study provides empirical evidence supporting the importance of strong risk governance frameworks and offers policy implications for regulators and banking institutions.

The purpose of this study is to analyze and compare the financial strength of PT Mayora Indah Tbk and PT Indofood CBP Sukses Makmur Tbk during the 2021–2024 period by using financial ratios, namely Return on Equity (ROE), Current Ratio (CR), and Debt to Equity Ratio (DER). The research applies a descriptive comparative method with a quantitative approach, and the financial data were obtained from the (IDX). The results reveal that PT Mayora Indah Tbk has higher profitability and capital efficiency, as reflected by the increase in ROE and the DER value below 100%, which indicates a healthy capital structure and lower financial risk. Conversely, PT Indofood CBP Sukses Makmur Tbk demonstrates stronger liquidity, as shown by the continuous rise in CR each year, although the company still relies considerably on debt financing. Overall, PT Mayora Indah Tbk is considered more efficient in generating profits with controlled financial risk, while PT Indofood CBP Sukses Makmur Tbk excels in maintaining liquidity stability and meeting short-term obligations. The findings of this study are expected to provide added value for investors, management, and future researchers in assessing the financial health of companies within Indonesia’s (FMCG) sector.

This study examines the effect of financial leverage on financial performance in property and Real estate companies listed on the Indonesia Stock Exchange, and whether financial distress modifies that effect. The objective is to determine whether higher leverage reduces financial performance and whether financial distress strengthens or weakens that relationship. We use a quantitative panel regression on 68 firms observed between 2020 and 2024. Outliers were screened using the interquartile range and an indicator saturation procedure implemented in EViews 13, yielding 249 usable observations. Financial leverage is measured by the debt-to-asset ratio, firm performance by Return on Assets (ROA) and Return on Equity (ROE), and financial distress by a bankruptcy-risk score (Altman Z-Score). Results show that higher debt-to-asset ratios significantly reduce both ROA and ROE. Financial distress does not have a significant direct effect on performance, but the combined effect of leverage and distress is positive and significant, indicating that distress tends to weaken rather than amplify the negative impact of leverage. The findings suggest that firms under financial pressure often adopt restructuring or efficiency measures that mitigate leverage’s adverse effects. The study concludes that property firms should manage leverage carefully and address distress proactively through timely restructuring and operational improvements to preserve profitability and long-term viability.

This paper investigates the factors of sustainability of the financial performance of Islamic insurance (Takaful) windows in Pakistan. A large body of literature has examined Takaful providers across many countries; however, there is little research on the dynamics of Takaful windows. This study uses an analytical approach to investigate the effects of various operational and financial measures on Takaful window performance. It is one of the earliest works to examine the profitability of Takaful windows with a dynamic PVAR model, providing new evidence on the peculiar financial forces in hybrid Islamic–conventional insurance frameworks. It explores the effects of the retention ratio, Wakalah fees, commission ratio, gross written contributions, and underwriting surplus on profitability, measured by return on assets (ROA) and return on equity (ROE). It uses annual data from 18 Pakistani Takaful window insurers, employs a panel vector autoregressive framework to capture dynamic interdependencies and endogeneity, and conducts a variance decomposition with impulse response analysis. The findings indicate that the retention ratio and underwriting surplus have significant positive effects on ROA, whereas Wakalah fees have a negative impact. In the case of ROE, the underwriting surplus and commission ratio are associated with positive effects; meanwhile, the retention ratio and gross written contributions are related to negative effects. Variance decomposition emphasizes the commission and retention ratios as the main sources of profitability, with Wakalah fees and underwriting surplus being insignificant. The regulators need to ensure proper fund separation and establish the most optimal rules regarding Wakalah fees. The operation of Takaful windows should focus on commission management and business retention strategies to enhance profitability and financial sustainability. The increase in the financial performance of Takaful windows contributes to the expansion of Shariah-compliant insurance, facilitating the financial inclusion of Muslim communities in mixed markets.

This study aims to analyze the effect of Debt to Equity Ratio (DER), Total Asset Turnover (TATO), and Net Profit Margin (NPM) on Return On Equity (ROE) in transportation and logistics sub-sector companies listed on the Indonesia Stock Exchange for the 2021–2024 period. Using the panel data regression method with a sample of 13 companies and a total of 52 observations, this study determined the Common Effect Model (CEM) as the best model based on a series of model selection tests. The research data met the requirements of classical assumption tests, being free from multicollinerity and heteroscedasticity issues. Partial test results (t-test) indicate that the DER variable has a positive and significant effect on ROE. Meanwhile, the TATO variable does not have a significant effect on ROE , and the NPM variable shows a significant effect but with a negative coefficient direction toward ROE in this sub-sector. Simultaneously (F-test), the variables DER, TATO, and NPM collectively affect ROE. The coefficient of determination (Adjusted R Square) of 0.5305 indicates that the independent variables in this study can explain the ROE variable by 53.05%, while the remainder is explained by other factors outside the model.

Purpose The study examines the impact of Corporate Social Responsibility (CSR) spending on financial performance among India’s top CSR-spending firms, following the introduction of mandatory CSR under the Companies Act, 2013. It explores whether CSR contributes to firm profitability and efficiency, with a focus on Return on Assets (ROA), Return on Equity (ROE), and Profit After Tax (PAT). Design/methodology/approach An explanatory research design was adopted using secondary data for the period of 10 years (FY 2014-15 to 2023-24). Pool Regression analysis was employed to examine the relationship between CSR spending and firm-level financial performance indicators. Findings Results show a significant positive relationship between CSR spending and PAT, suggesting that CSR investments enhance long-term profitability. However, the effects on ROA and ROE are negative and statistically insignificant, indicating that CSR may not immediately improve short-term accounting returns. Practical implications The findings emphasize the importance of sustained CSR investment as a strategic tool for enhancing firm profitability. Policymakers are encouraged to continue supporting mandatory CSR provisions, while managers should recognize CSR as an investment in long-term value creation rather than short-term efficiency gains. Originality/value This study advances the CSR–financial performance debate by providing evidence from India’s mandatory CSR based on actual CSR spending, rather than content analysis. Unlike prior industry-specific studies, it spans multiple sectors and uses a decade of post-mandate data, showing how CSR builds reputational capital and stakeholder trust, translating into long-term financial benefits.

The issue of financial risk management has been a burning issue throughout the banking industry in Nigeria especially in the wake of global financial crisis and the ensuing regulatory changes. Nigerian deposit money banks (NDMBs) face a number of financial risks which can impact their capacity to earn sustainable returns and financial sustainability to a large extent. It is thus necessary to understand the impact of these risks on financial performance in a bid to supervise banks and make managerial decisions in Nigeria. The paper explores the effect of financial risk on financial performance in NDMBs on an expo facto research design. The data were collected using secondary sources in the years between 2010 and 2022 and on selected NDMBs. The study utilised stratified sampling to identify the diversity of the NDMBs as 20 banks were purposively identified to participate in the study. The year 2010 was taken as the base year due to the fact that it was the year when the world came out of a global economic crisis and new risk and governance policies were implemented by the bank management and regulators. The information regarding the financial and bank performance was obtained through the Central Bank of Nigeria (CBN) reports and Annual Financial reports of the chosen banks. The data obtained was analysed with the help of proper descriptive and panel least square regression analysis methods. The results exhibited credit risks (CRR), cost-income ratio (CIR), total regulatory capital (TRC), and bank size (SIZE) as factors influencing financial performance through both return on assets (ROA) and return on equity (ROE). CRR showed a negative coefficient value of 0.0002 and probability of 0.0419, LQR has a negative coefficient value of 0.0594 which is statistically significant (p-value = 0.0498), CIR (coefficient = -0.0281 and probability = 0.0106), TRC with a positive coefficient value of 0.0358 on the level of ROA which is statistically significant (p-value = 0.0457), and SIZE showed a coefficient value of 0.0088 which is statistically significant (p-value = 0.0210). While CRR negatively and significantly influenced ROE with a negative coefficient value of 0.0039 and probability of 0.0254, LQR had a positive coefficient value of 0.0867 on ROE which is statistically significant (p-value = 0.0317), CIR (coefficient = 0.0785 and probability = 0.0472), SIZE is significantly influenced the returns with coefficient value of 0.097 and probability of 0.0016. The study concludes that financial risk management significantly influences financial performance of NDMBs. The study recommends that banks must observe strict compliance with regulatory positions on lending and ensure that their credit risk management is tailored towards generating sufficient earnings that will improve financial performance. Also, bank management must endeavor to have a robust risk management strategy that incorporates global best practices so as to improve their financial performance and be better prepared for economic challenges.

Sustainable development, driven by responsibility toward the planet and society, has become a central focus across sectors. In response, the Environmental, Social, and Governance (ESG) framework has emerged as a key approach to evaluating corporate sustainability performance. While extensive literature explores ESG's broader implications, limited research has specifically addressed its impact on the financial performance of the banking sector in the United Kingdom. This study investigates the relationship between ESG performance and the financial outcomes of UK-listed banks included in the FTSE 100 Index. ESG scores are used as the independent variable, with financial performance measured through accounting-based indicators—Return on Assets (ROA) and Return on Equity (ROE), and the market-based measure of market value. Using panel data from 2017 to 2022, the results show that ESG performance has a significant positive impact on ROA, a significant negative impact on ROE, and an insignificant negative effect on market value. These findings offer practical insights for UK banking managers and policymakers in balancing ESG initiatives with financial goals, particularly in optimizing ESG strategies that align with profitability and shareholder value.

This study aims to examine the relationship between Corporate Social Responsibility (CSR) disclosure and profitability with firm value. The research was conducted on companies in the oil, gas, and coal sub-sector listed on the Indonesia Stock Exchange (IDX) during the 2021–2024 period. The independent variables in this study are corporate social responsibility disclosure and profitability, while firm size is employed as a control variable. Firm value is proxied by Price to Book Value (PBV), whereas profitability is measured using Return on Equity (ROE). This study is grounded in Stakeholder Theory and Signaling Theory to explain the relationships among the variables. The sample was determined using purposive sampling, resulting in 29 companies. The data analysis techniques applied include Pearson correlation analysis and multiple linear regression to examine both the simple relationships and the effects of corporate social responsibility disclosure and profitability on firm value. The results indicate that corporate social responsibility disclosure has a negative relationship with firm value, while profitability shows a positive and significant relationship with firm value.