Institutions Matter: The Importance of Institutional Quality When Embedding Sustainability within the Capitalistic Realm

Lisa Bernt Elboth, Adrian Rudolf Doppler, Kristjan Jespersen

Research output: Other contributionNet publication - Internet publicationResearch


Institutions not only structure any sort of social interaction [1], but are also essential in solving societal problems [2], such as climate change and the associated threat towards a fair and just future. It is not without reason that the United Nations particularly emphasized institutional progress within SDG 16 [3] to advance to a more effective, inclusive, and accountable society. In a recent study, it was found that institutions matter to a great extent when scrutinizing the relationship between corporate financial performance (CFP) and ESG performance. More specifically, the institutional environment a company finds itself in determines whether sustainable business practices get transformed into financial returns.
Original languageEnglish
Publication date2022
Place of PublicationFrederiksberg
PublisherThe Business of Society
Publication statusPublished - 2022


  • Capitalism
  • CFP
  • Change
  • Corporate
  • Corruption
  • Environment
  • ESG
  • Finance
  • Industry
  • Institutional
  • InstitutionQuality
  • Institutions
  • Performance
  • Rating
  • Sensitivity
  • Sustainability
  • SustainableFinance

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