Paper Title
The Impact of ESG Scores on Firm Performance in Taiwan Listed Companies.

Abstract
Environmental, Social and Governance (ESG) refers to companies and investors incorporating ESG issues into their business. The ESG score focuses not on financial reporting, which investors and managers are accustomed to using when making decisions, but on statements on the corporation’s influence on the underlying pillars of the score. Stakeholders and fund managers believe that firms with high ESG scores yield better operating performance, higher returns and lower firm-specific risk. But still, abundant inconclusive evidence attracts sustainability scholars to fill concerning sustainability disclosure and performance. This master’s thesis aims to study the impact of Environmental, Social and Governance (ESG) on a firm’s financial performance, given the stakeholders’ increasing attention to the firm’s ESG practices. This study uses a sample of Taiwanese listed companies from 2016 to 2022 for a period of 7 years. Result shows that there are both positive, negative and neutral relationships between ESG scores and firm performance. The findings of this study will widen the scope of literature to examine the impact of individual E, S, G scores on a financial performance. Keywords - ESG score, Environmental, Social, Governance, Sustainability, firm performance, earning per share, ROA, ROE, Total assets, listed companies