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Abstract
Early periods of history have demonstrated that enhanced economic development is fostered in instances where natural resources are abundant, hence averting the resource curse. In this vein, accelerated economic advancement is driven by a rigorous and proficient financial sector that efficiently utilises and allocates the economy's natural resources. A strong financial system that transforms resources into advantages rests on an advanced technological innovation base, superior human capital, distinct foreign direct investment, powerful trade, and sustainable energy consumption. While this paper investigates the nexus of these factors, the specific purpose of this research is to examine the interactive impact of financial development and natural resource rents on carbon emissions in the new BRICS economies for the duration of 1990 to 2019. The panel data generalised least squares (GLS) and the panel-corrected standard error (PCSE) techniques are adopted. The Dumitrescu and Hurlin technique is used to establish causality. The study found a U-shaped association between economic growth and emissions. The findings prove that the financial development of financial institutions and the financial development of financial markets' relationships with emissions are significantly positive. Natural resource rents, energy consumption, and human capital create a significantly positive relationship with emissions (mostly just positive for technological innovation). Conversely, the connection involving trade and carbon emissions is significantly negative (but mostly just negative for FDI). The interaction (s) intervening financial development of financial institutions and financial development of financial markets with natural resource rent significantly lowers emissions, respectively. The interaction parameter (financial development of financial institutions, natural resource rent, and financial development of financial markets) mixed with trade significantly adds emissions (positively insignificant with energy consumption). Contrarily, this factor mixed with human capital and technological innovation, respectively, is significantly negative (just negative for FDI). The Dumitrescu–Hurlin panel Granger causality outcomes are also outlined.

AbstractThis paper analyses the extent to which the impact of carbon performance on corporate financial debt varies according to company size. The system Generalized Method of Moments (GMM) and the Fixed Effects Panel Threshold regression models are deployed to consider 107 South African listed companies (CDP South Africa) spanning the period 2014–2018. The GMM outcomes demonstrate that carbon performance is negatively significant to firm financial debt in all the regression equations in the short‐run settings (both with and without interaction terms) and the long‐run setting (except for the ROA regression without interaction term, which is just negative). Moreover, the interaction term, carbon performance × company size is also significant and negatively related to debt in short‐run contexts (except for the ROA regression with an interaction term that is just negative) for all equations. In the long run, the interaction term is also significant and negatively related to debt in all the regressions analysed in this paper. The panel threshold regression framework highlights a threshold level of 7.4268 below (above) which the financial debt of small (large) companies, decreases (increases) when carbon performance increases. Granger causality findings and policy suggestions are also presented.

Purpose
This study aims to examine the impact of carbon performance on firm financial performance by using Republic of South Africa CDP company data from 2014 to 2015.


Design/methodology/approach
The study considered 63 companies on the Republic of South Africa CDP database. Content analysis was used to extract both carbon performance data and firm financial data. The data were analysed using panel data analysis and partial derivative approaches.


Findings
The findings indicate that carbon performance produces a positive relationship with return on equity (ROE) and return on sales (ROS). Conversely, it generates a negative relationship with return on investment (ROI) and market value added (MVA). Furthermore, the study highlights that carbon performance pays and that the relationship with financial performance (ROE, ROS, ROI and MVA) deepens as the corporate growth rate increases.


Practical implications
Companies that integrate carbon performance initiatives reap substantial financial gains, and this relationship is strengthened as the company's growth rate increases.


Originality/value
The research questions and data collected from Republic of South African CDP firms are original and provide important evidence on the impact of carbon performance on firm financial indicators. Furthermore, many empirical studies focus on highly industrialised countries; this study examines this issue in the emerging South African economy which has experienced rapid growth of emissions in recent years. While most previous studies on the relationship between carbon performance and firm financial performance used a single class of corporate financial measures, this study used both accounting- and market-based indicators. It also investigated how firm growth moderates the association between carbon performance and diverse financial performance measures. Finally, pressure exerted by green stakeholders since the introduction of the Johannesburg Stock Exchange's sustainability criteria in 2004, as well as government policies, has a profound impact on the South African business context; it is hence important to examine corporate environmental management activities in the context of the association between carbon performance and firm performance.

The study examined corporate governance and corporate sustainability impact on the performance of South African listed companies. Data retrieved from 30 companies for the period 2010-2020 was analysed using panel fully modified ordinary least squares (FMOLS) and dynamic ordinary least square (DOLS) methods. Dependent variables were grouped into the Accounting-based approach and the Market-based approach. Explanatory variables were also grouped into Corporate Governance and Accounting ratios. Findings revealed a strong relationship between corporate governance and company performance. This was substantiated by the result from Board gender diversity, which revealed both positive and negative relationships that were significant under both approaches. Directors' remuneration revealed a positive but insignificant relationship under both approaches, while Board size revealed a negative relationship under both approaches. Further findings also revealed a strong relationship between corporate sustainability performance and company performance. This was established by the results from the ESG and ROA and ROE, which revealed negative but significant relationships under the first approach and became positive and significant under the second approach. Lastly, a strong relationship between corporate governance and corporate sustainability performance was revealed as shown between ESP and directors' remuneration and a negative but significant relationship with board size and gender diversity. A cross-country based investigation to ascertain whether the same results can be achieved should be carried out.

The study examined the sensitivity analysis of the impact of Covid-19 on Corporate Sustainability and Company Performance of South African listed companies. The study employed secondary data retrieved from the annual reports of the selected companies. Stakeholder Theory and the Traditional Theory of Economics and Finance from the theoretical foundation of this study. Data retrieved from 40 companies for the period 2010 -2021 was analyzed using panel fully modified ordinary least squares (FMOLS) and dynamic ordinary least square (DOLS) methods, representing all sectors with the help of a convenience sampling method. Findings revealed a strong relationship between corporate sustainability performance and company performance with other explanatory variables. This study also implied that the impact of the Covid-19 pandemic was so sensitive on South African companies and companies must pay strong attention to recovery strategies suggested to reduce the severity of the impact on them and ensure a quick recovery.

The influence of macroeconomic variables on aspects of business and the country's economy has been a subject of robust discussion. This study was conducted to identify the effect of macroeconomic variables, namely inflation rate, economic growth, exchange rate and share price, on listed companies in South Africa. The goal was to study the long run and short run effects of macroeconomic volatility on company performance because of the world's recent pandemic experience. To achieve this objective, the study applied the panel Autoregressive Distributed Lag (ARDL) model on annual panel data from 2010 to 2020 to analyse the short run and long run effects of macroeconomic variables on a company's performance. The study results suggested a positive impact of economic growth, exchange rate and share price on asset returns, whilst a company's equity return is supported by economic growth and share price in the long run. The short run revealed that none of the independent variables has a sufficiently significant effect to influence a company's performance changes in the short run. Based on the findings, it was recommended that policymakers and economic authorities should introduce and implement strategies that favour and enhance the country's economic growth and stable exchange rate in order to improve company performance. Additionally, given that the company's short-run performance may highly depend on internal factors such as corporate governance, internal policies and business strategies, these decisions should be taken with precaution and a high level of professionalism.