How Robust Is the ESG Pillar-Profitability Link in Central and Eastern European Banking? A Robustness Analysis of Systemically Important Institutions
This study applies its own proposed methodological standard to test a widely repeated claim in banking–ESG research: that disaggregating composite ESG scores into environmental, social, and governance pillars reveals a social-pillar profitability premium the composite score obscures. Using LSEG/Refinitiv data for banks...