[ 13 ] ESG PERFORMANCE AND CORPORATE SUSTAINABILITY: AN EMPIRICAL STUDY OF INDIAN LISTED IT COMPANIES

ARTICLE INFO: Date of Submission: Feb 24, 2026, Revised: Mar 05, 2026, Accepted: Mar 9 , 2026, CrossRef D.O.I : https://doi.org/10.56815/ijmrr.v5i3.2026.135-150. How To Cite: Kavithashree M, Sunil G E, Bhavyashree K, Shivakumara C Y (2026). ESG Performance and Corporate Sustainability: An Empirical Study of Indian Listed It Companies. International Journal of Multidisciplinary Research & Reviews, 5(3), 135-150.

Authors

  • Kavithashree M, Sunil G E, Bhavyashree K & Shivakumara C Y

Abstract

Background: Environmental, Social, and Governance (ESG) criteria have emerged as critical determinants of corporate sustainability and long-term financial performance, particularly within the technology-intensive Indian information technology (IT) sector. Objectives: This study empirically investigates the relationship between ESG performance dimensions and corporate sustainability outcomes among Nifty IT-listed companies over the period 2019-2024. Methodology: Employing a balanced panel dataset of 30 Indian IT companies across 180 firm-year observations, the study applies fixed-effects panel regression, random-effects models, and the Generalised Method of Moments (GMM) to address endogeneity concerns. Findings: Results indicate a statistically significant positive relationship between composite ESG scores and all financial performance metrics (p < 0.01). The governance pillar exhibits the strongest explanatory power (beta = 0.412), followed by environmental (beta = 0.318) and social pillars (beta = 0.267). Firm size and R&D intensity moderate the ESG-performance nexus. Conclusion: Proactive ESG adoption creates sustainable competitive advantage for Indian IT companies, with significant implications for regulators, institutional investors, and corporate boards.

Keywords:

ESG Performance, Corporate Sustainability, Indian IT Sector; Financial Performance, Governance

Author Biography

Kavithashree M, Sunil G E, Bhavyashree K & Shivakumara C Y

Kavithashree M,Guest Faculty, Department of Commerce, Maharani's Arts, Commerce and Management College for Women, Maharani Cluster University, Bengaluru–560001, Karnataka, India.

Sunil G E,Guest Faculty, Department of Commerce, Maharani's Arts, Commerce and Management College for Women, Maharani Cluster University, Bengaluru–560001, Karnataka, India.

Bhavyashree K, Assistant Professor, Jnana Jyothi Degree College, Yelahanka Satellite Town, Yelahanka New Town, Bengaluru, Karnataka 560064, India.

Bhavyashree K, Assistant Professor, DoS in Commerce, Vidyavardhaka First Grade College, University of Mysore, Mysore District 570001, Karnataka, India.

Downloads