School of Accounting, Finance & Economics

BUSINESS FACULTY

School of Accounting, Finance & Economics

Module Handbook

For submission of dissertations in 23-24

FINA 1037 Dissertation (for MBA Finance and MSc programmes EXCEPT MSc Finance & Investment, which takes FINA 1124. The submission requirements are different in a few respects.)

Level 7 45 credits = 450 hours of independent study

TOC o "1-3" h z u 1.Welcome2.Introduction to the Module2.1Aims2.2Learning Outcomes2.3Enquiry Based Learning and Research Led Teaching2.4Embedding Employability in the Curriculum2.4.1 BAME/INCLUSIVE

2.4.2International

2.5Learning and teaching activities2.6Expected study time2.7Additional Requirements3.Contact Details3.1External Examining of Your Module and Programmes of Study4.Module Content and Design4.1Planned Term Dates:4.2Session Plan4.3Session Required Reading5.Assessment Details5.1Summary of assessment5.2Rules for anonymous submission and marking:5.3Detailed description of assessment6.Other Details

1.WelcomeThis document outlines the modules main features and provides you with the key information you need during the module.

2. Introduction

The dissertation is the final stage of the MSc Finance suite of programmes. Successful completion of a dissertation converts your postgraduate diploma into a masters degree. The Dissertation and Research Methods modules together account for one-third of the Masters-level Finance programmes. This reflects the central nature of the independently-managed research project to the postgraduate degree. The dissertation requires the student to research a chosen topic area with the academic rigour appropriate for work at masters level using the knowledge and skills acquired through the taught modules. It provides an opportunity for the student to demonstrate an ability to analyse specific intellectual theories and concepts as presented in the academic literature and to apply them in an empirical study. Dissertation also develops other skills, such as project management, communication, data collection and analyses, and the ability to draw conclusions from a variety of sources. It enables students to demonstrate their individual knowledge, ability and skills by examining an issue in depth.

2.1 Aims

The aim of this module is to apply the practical skills and knowledge of research techniques that have been established in the Research Methods module. In managing a small-scale research project, students are expected to develop their understanding of the relationship between theory and practice and extend their capacity for analysis and logical inference.

For many students, the dissertation is one of the most rewarding parts of their degree. It is a chance to choose a topic that really interests you and to develop it to a greater depth than other modules allow. The dissertation is not easy and to achieve a good grade requires a great deal of effort and dedication. Everyone will experience periods of frustration with their research, however, it is evident from past years that when students put in the work, remain focused, and stay in contact with their supervisor then there is the potential to perform well in this element of the programme.

The dissertation explores or investigates a suitable topic approved by an appropriate supervisor. Students enter the dissertation process with a research proposal on a topic undertaken during the Research Methods module in Semester 2. Over the duration of this dissertation module, the student, under the guidance provided by his/her supervisor, prepares and writes a 12,000 word dissertation.

A Dissertation at Masters level:

Is a focused study that considers all relevant literature

Develops a research design employing appropriate research methods and demonstrating an awareness of the respective strengths and weaknesses

Provides evidence for the collection and analysis of a sufficient amount of relevant primary or secondary data using appropriate techniques

Presents original conclusions that contribute to the existing literature. Such originality may come from either the method (eg. different variables, data sets, countries, time periods) or, less commonly, from the theory (eg. an amendment to a theoretical framework) or methodology (eg. an amendment to a research instrument/variable).

Prerequisite module

Students enter this module having completed Research Methods (FINA 1007) and therefore have a formal, written presentation of their topic, including its relationship to appropriate literature and the research design to be deployed.

2.2 Learning outcomes

On completing the Dissertation module students will be able to:

identify the basic elements involved in defining a piece of academic work and structure such work appropriately: specifically, defining the broad area of interest, together with important issues and questions that lie within it

undertake a focused and thorough literature search, and explain its role and function

consider the relation of the broad area of interest to existing literature and to issues of methodology, research design and method;identify, collect, and analyse relevant data;undertake a dissertation that:

develops and addresses a specific research question arising from the existing literature

incorporates a research question or hypothesis

write a viable research design supported by related research techniques, including a clear understanding of the strengths and weaknesses of proposed choices in this area, and a realistic contingency plan to cope with predictable difficulties;

evaluate existing literature in influencing the form (i.e. how the proposed design relates to that used by others) and content of the work (i.e. the substantive contributions made by other researchers)

collect, analyse, and interpret data in relation to the research question and current literature

2.3Enquiry Based Learning and Research Led TeachingEnquiry-Based Learning (EBL)

Defined as an approach based on self-directed enquiry or investigation in which the student is actively engaged in the process of enquiry facilitated by a teacher. EBL uses real life scenarios (for example, from case studies, company visits, and project work) and students investigate topics of relevance that foster the skills of experimental design, data collection, critical analysis and problem-solving.

Research-Led Teaching (TLD)

An element of EBL which involves faculty introducing students to their own research where it is relevant to the curriculum being taught as well as drawing on their own knowledge of research developments in the field, introducing them to the work of other researchers. TLD sees students as active participants in the research process, not just as an audience. This is achieved by discussing such developments in lectures and classes, and setting reading lists including recent research publications at the frontier of the field. The definition of a diverse assessment regime at the programme level (incorporating an expectation of familiarity with, and use of, such publications in assignments) and the inclusion of projects at every level of the programme is also fundamental to achieving these objectives.

2.4Embedding Employability in the CurriculumEmployability has been embedded in this curriculum through the following:

Cognitive Skills - Opportunity for solving problems independently. Opportunity to make sensible assumptions in real life scenarios. Reflection on skills gained and the impact of the proposed solution

Generic Competencies - Substantial written element emphasising clear formatting, spelling and grammar within a clear, well-reasoned narrative.

Personal Capabilities eg preparing you for further study

Technical Ability exposure to statistical techniques and software such as SPSS

Organisational Awareness - opportunities for research into current trends and understanding how sectors are linked.

Practical and Professional Elements - Reflect on own job-readiness regarding professionalism and skills obtained. Evaluation of work experience/placement etc what skills, and competencies were gained?

Developing Professional Online Identity Encourage an established professional online identity on LinkedIn through relevant posting and contributing to professional discussion on groups. Awareness of the benefit of actively seeking out new connections including UoG alumni in relevant geographical or sector specific areas.

2.4.1 BAME/ Inclusive

Learning is designed to ensure that the curriculum is inclusive and that the diversity of the student body is taken into account.Input from students and student curriculum consultants have informed the design and content of learning materials.Clear language is used in lecture materials and all handouts, presentations and module materials are accessible via Moodle. Assessment guidance is provided in good time.

2.4.2 International

This module is delivered at partner institutions in countries outside the UK. The curriculum is internationalised through the students own choice of suitable topics for a dissertation. The teaching team in the UK works collaboratively with and is engaged in research with international colleagues.

2.5Learning and teaching activitiesThe most important critical aspect of the dissertation/research project is your ability to engage in independent study. While your supervisor will provide some guidance, a dissertation at masters level is characterised by a demonstration that you are capable of working on your own to a very large extent.

While many universities provide very little guidance on research projects to their masters students, we understand that many of you have never undertaken such a project before, and may require some assistance. Each supervisor manages their group of supervisees as appropriate, depending on the nature of the topic, the research method to be employed, and the number of students in the supervisory group. You should expect no fewer than two formal contacts (either face-to-face or email guidance) with your supervisor while you are working on your research proposal. These contacts may be in groups, where students are undertaking similar projects. Some supervisors may institute informal contact as well, depending on the nature of the project.

Students who do well in the dissertation/research project:

understand that it is a project that requires breaking down into small manageable chunks of work with clear timeframes for completing each one

understand and apply the concept of independent study (compared with taught modules) by referring to their supervisor AFTER they have undertaken some work, rather than waiting to be told exactly what to do

accept that there are limits to the amount of help that can, and should, be given with a dissertation studied at advanced level

manage their supervisors time by requesting meetings or feedback well in advance of your own deadlines

examine closely previous dissertations to understand the structure and underlying process involved, while also appreciating that there is no single way of doing a dissertation

consult a range of different research methods textbooks on a continual basis throughout their project in order to understand the requirements for developing a suitably academic research project

2.6Expected study timeActivity Hours Overall percentage of total

Scheduled teaching 0 0

Guided Independent Study 450 100

Placement / Year Abroad 0 0

Total 450 100%

Contact details

Tutors name Office no. Email

Dr Julia Mundy (module leader) QA001 Mj60

Your personally allocated supervisor As advised

3.1 External Examining of Your Module and Programmes of Study

External examining at the University of Greenwich provides one of the principal means whereby the University verifies, maintains, and enhances the academic standards of the modules and the programme on which you are studying. They also help the University to ensure that your assessment processes are sound, fairly operated and in line with the policies and regulations of the University of Greenwich. External examiners - academic staff from other Higher Education Institutions or from the professions - are appointed as reviewers of your modules and your programme of study for a period of 4 years. They provide the University with a number of important services. For example external examiners will

Review and comment on the standard of key elements of assessment that you have been set.

Review samples of student work and confirm whether the standard is at the level expected for the award you are studying and whether it is comparable with other Institutions that they know.

Provide the University with an independent view of how well we conduct our processes for marking and internal moderation of assessments.

Attend Progress and Awards Boards (PABs) and contribute to deliberations for conferring your degree classifications and awards, assisting the University in treating all students fairly and consistently with regard to our regulations. External examiners will endorse the outcomes of PABs based on their scrutiny of the assessments and the deliberations of the PAB. No degree award can be made without the assent of an external examiner.

Report formally their findings to the University at the end of each year and identify our good practice as well as making recommendations for improvements in the future.

External Examiner reports for your programme of study, or questions about the reports, can be obtained from your local Academic Quality Unit Quality Manager, who is: Nikki Makinwa, I.Makinwa@greenwich.ac.ukExternal examiner: Dr Evangelos GiouvrisIs there anything an external examiner wont be asked to do?

External examiners will not mark your work personally and nor will they comment upon individual student performance or individual works in their reports or engage in correspondence with individuals in respect of grades, marking, feedback, degree class and other personal academic matters.

4.1 Planned term dates

A current schedule of dates can be obtained from the portal.

Assessment details

5.1 Submission dates

Students are given up to three consecutive attempts to attain a pass mark (excluding approved claims for extenuating circumstances). The due dates are set centrally and for 2023-24 will be finalised shortly. The main submission date will be approximately mid-Sept. The next two submission dates will be approximately end term1 and end term 3. You will be informed of your submission month in June/July. It is your responsibility to check Moodle for the submission dates. The links will be on Moodle a few days before the submission date. Students who fail the September submission will resubmit in December. Students who receive approval for an EC claim will also submit in December. Students who do not submit by their expected due date and who are not awarded an EC claim will be given a mark of 0. A subsequent successful submission for failed dissertations will have a capped mark of 50%. Dissertation marks for those submitting in September/December will be approved by the Progression and Award Board in November/Feb.

5.2 Description of assessment

Task 1 - Dissertation checklist

Dissertation is as much concerned with the process you have undertaken as with the actual content. This means that you cannot simply submit a dissertation of 12,000 words and expect it to be marked. You are required to demonstrate evidence of the process that you have undertaken in completing your dissertation, and to submit a checklist with your final submission to indicate that you have complied with the requirements. The examiners retain the right to require you to attend a formal viva after submission of your dissertation should such evidence be insufficient. The purpose of this viva will be to examine your knowledge of the material, and to ascertain that you have completed the work yourself. You should therefore ensure that you keep and update regularly a research diary/log-book of your notes and ideas, and that you retain all files, papers, etc. used during the year until the Exam Board has approved your work. Failure to attend or pass the viva will lead to an automatic failure of the module.

Task 2 - Dissertation

The full dissertation must be submitted through Moodle, with your name, supervisors name, title included in the filename. If you do not include this information then someone other than your supervisor may mark your work. <supervisors surnameyour surname> Eg. Russo-Yang-capital structure China.docx See Appendix A for further details.

Task 3 Ethics module completed

For those who have not already submitted an approved ethics form, or who have changed their research method (eg from secondary to primary data collection or the reverse).

Task 4 Resit amendments

Students who have previously failed a submission and are resubmitting their dissertation are required to complete a table that summarises the changes they have made see Appendix C.

Where marks are awarded and lost

Requirement Where to find the information Marking scheme

Dissertation checklist Appendix A Incorrect completion will be penalised by up to 10%

Evidence of sources referenced Appendix B Missing info will attract a penalty of up to 10%

Data and analyses Appendix B Missing/incomplete data will attract a penalty of up to 15%

Dissertation Appendices D and E Awarded out of 100%, subject to the above points

5.4 Rules for anonymous submission and marking:Dissertations are exempt from anonymous submissions because it is in the students interests to have the submission marked by the supervisor.

5.5 The process of learning and teaching

The teaching process consists of a formal one-to-one relationship between the student and the supervisor. The role of the supervisor is to support the student in the development and completion of their research project and dissertation. It is the supervisors responsibility to guide the work where appropriate. This does not extend as far as writing (or re-writing) sections of the project, or even suggesting the topic, or the major divisions within it, or reading the final draft. Essentially the supervisors responsibility is to react to and comment on alternative approaches you think might allow you to finish the project successfully. Supervisors will read and comment on drafts of research tools (e.g. a questionnaire or interview schedule) and chapters. However, supervisors will not read a draft of the whole dissertation. Supervisors cannot comment on work during the last two weeks before submission.

5.6 FAQ

Students experience problems at different stages of the module. The following information is designed to provide you with information regarding the most common areas of concern. If you require any further information, you should approach your supervisor in the first instance.

5.6.1 FAQ - While working on your dissertation:

How much time must I spend on my dissertation?

FINA 1037 is a 45 credit module and therefore you are expected to spend 450 hours working on your dissertation. You are strongly advised to log your hours so that you can ensure you are giving sufficient focus to your dissertation. You have just over 3 months until the deadline so you need to make a plan that incorporates all the activities and tasks you need to complete. There is a clear correlation between sustained focussed effort and the mark awarded. Students who receive a mark lower than they expected usually admit that they did not devote the required time to their dissertation.

Can I have an individual meeting with my supervisor?

Several students are replicating the same study as you, so it is highly likely that they will have similar questions. It is therefore fairer if all the students in your group receive exactly the same information from your supervisor. It is also a more effective and efficient way of delivering supervision because the supervisor does not need to repeat the same information, which therefore leaves more time for other dissertation-related matters. You have a limited amount of time with your supervisor so use it wisely. You will make better use of your supervisors time if you meet with the other students in your group to share common issues and agree which ones you wish to raise in the meetings with your supervisor. You may also be able to solve some common problems without involving your supervisor, which again will be more efficient.

How much contact will I have with my supervisor?

You will have the equivalent of 3 x 1 hour meetings from now till end August. Your meetings will include other students who are replicating the same study so that you can benefit from hearing their questions and your supervisors responses. You will also benefit from collaborating with other students. For example, you can each collect a portion of data and share it. This will enable you to share common problems (eg shall I include this outlier?), as well as speed up the data collection process.

Can I send my supervisor each chapter as I complete it? Will my supervisor provide feedback on a complete draft of my dissertation before I submit it?

The answer to both is no. The dissertation is based on independent study and therefore you are expected to work on your own. Your supervisors role is to provide guidance. Also, there is no single way of producing a good dissertation. You will face choices in your project, several of which are likely to be appropriate. Your supervisor will provide feedback on a few occasions, and this will be based on a small and specific amount of content as agreed. For example, you might want your supervisor to look over a particular section of your discussion at an early stage so that you can then use the feedback before you complete the chapter. Bear in mind that many academics take their annual leave during August, and that no contact is permitted for the two weeks prior to the submission deadline. Therefore, the final contact with some supervisors could be during July. Make sure that you know your supervisors availability.

Can I change the methodology?

Replicating a study is the EASIEST way to undertake a dissertation because you have all the information you need contained in a single study. Your supervisor will ensure that the methodology is suitable for you (it may require that you do some additional reading to understand it), and may offer suggestions for simplifying it where appropriate. You are not permitted to introduce a completely different methodology because this will not demonstrate that you can replicate a study.

My supervisor is not responding to my emails.

When did you send a message, 20 minutes ago? Yesterday? Last week? Academic staff are very busy and have many demands on their time. If you require an urgent response it implies that you have not managed your time or your supervisors time appropriately. During term time you can expect a response within 2 WORKING days (after allowing for conferences, off campus visits, illness etc.). Please do not expect prompt responses to emails sent during very busy or non-teaching times eg. early or late hours, weekends, holidays, research weeks. Please note also that most academics take the majority of their annual leave during July and August. You will need to check this in advance and work around these dates. Please note that if you send the module leader a complaint about your supervisor, your email will be forwarded immediately to your supervisor.

Can I change aspects from my research proposal eg. a different time period/industry?

Yes, as long as your supervisor agrees.

Can I include material from my research proposal?

Yes, but it is extremely unlikely that it will still be relevant. Most students find that they need to rewrite their aims/objectives and literature review after they have collected and analysed their data. In addition, if your mark was not very good, then you should not include the same material as it will lead to a similar mark.

I have just found out that my supervisor is not able to sign my record of contacts and the deadline is in 3 days. What should I do?

You should not have left this so late. Your work may be penalised by up to 10 marks. You should agree a date with your supervisor to sign the record of contacts before the end of July.

What should I include in each section of the dissertation?

First, you should understand that you will need to write considerably more than 12,000 words during the year if you wish to get a reasonable mark as your first drafts will not be of a sufficiently good standard. The more time you spend re-reading, editing and evaluating your work, the better it will be.

For the introduction:

What is the study about? Ie. what issue is being investigated? Why?

What are your aims and objectives? Do they align with your findings?

In which specific body of literature is your work situated? What is your contribution?

For the literature review:

Dont just read - you need to write as you are going along. If you find writing difficult, then write in note form first and then try to develop your ideas later on.

Are all terms defined and explained?

Have you organised your paragraphs/sub-sections into themes/topics, rather than by author? (cf. Foundations of Scholarship exercise)

Is your referencing accurate and correct?

Have you paraphrased properly, or have you copied work from a source?

Do you have too many/few sub-sections? (Ask a friend to review, and look at the work of others.)

Is all the information directly relevant to your topic?

What is your research question or hypothesis, and is it clearly stated at the end of this chapter?

For the research design/method section:

The research proposal you prepared during your Research Methods course was based on what you were intending to do, but the research design you actually employed might have been very different. In this section you will justify your choices of data collection and analysis:

Why have you used this method?

Why did you select this organisation/industry? (eg. previous studies have or have not been conducted in this area references required)

Why did you select this population to sample?

Why did you select this size of sample?

How did you collect your data? (ie. When and where)

How did you analyse your data?

For findings, analysis, discussion, and conclusions:

Important: These sections are the crucial elements that make your work a dissertation rather than an essay. Students typically pay insufficient attention to these, and consequently this reduces the overall quality and mark of the final dissertation. These final sections together account for about 40% of the total dissertation in terms of the word count

collate any data you have collected (using Excel or similar)

look at it, summarise it (how many, when, how often etc.)

think about the best way to structure your findings eg. by themes. This may take several attempts of trying out different ways.

make sure that you relate the results to your research questions you will probably need to amend your research questions in light of your results

are there any surprises or are the results in line with what you expected, given what the literature says?

If there are surprises, then you might question whether the literature you have used is out of date, or whether your data is limited (eg. only 5 years), or whether you have genuinely found something new

Have you related the findings related back to your literature review?

Conclusions should include: how this study has added to our knowledge or understanding of the topic being researched (ie. what does this study tell us that we didnt know before?), limitations of the study (eg. method used), possibilities for future research.

IMPORTANT: the focus of your project is a theoretical topic, it is NOT a consultancy report. It should therefore contain theoretical findings, and NOT recommendations. For example, if your project is on activity based costing, and you have collected data from a single bank in China, then one conclusion might be stated as Banks in China appear to experience similar problems implementing activity based costing as those in the UK. It should NOT be stated as recommendations for the bank, eg. sentences such as The bank managers need to ensure that employees understand activity based costing will obtain poor marks. Remind yourself that the audience comprises academic readers rather than company management.

For the final submission:

Have you complied with, completed and included the submission checklist at the beginning of your document?

Have you re-read and re-written the previous sections so that they form a cohesive and consistent piece of work when put together? For example, the same research aim(s) and objectives should run through the whole of the dissertation. It is perfectly acceptable to go back to your literature review and add literature that you have found since you first started your project

Do not waste time using fancy graphics/colour you will not gain extra marks, and they will distract you from the actual process of writing

Abstract: The function of the abstract is to encapsulate very briefly the main aspects of the dissertation, and should address the following points (note: these are not headings): What secondary data and/or primary data sources have been considered and why? How were these data analysed and some brief comments on why these method(s) were chosen. A very brief summary of the key results from the secondary and/or primary data presented, and what the analysis revealed. The limitations of the research design and the implications this might have on the generalisability of the findings. The implications of the work for future researchers and if your work has any impact on the development of the academic and professional literature and understanding of the issue(s).

Have you included your supervisors name on the title page of your submission? If not, someone else might mark your work or marking might be delayed.

In what order do the sections / chapters appear?

Title page

Submission checklist (see Appendix A)

Acknowledgements (optional)

Table of contents

List of tables and figures

Abstract

Introduction

Literature Review

Research Design

Results / Findings / Discussion (may be separate)

Conclusions

References / bibliography (divided between primary and secondary citations see Appx C.i)

Appendices

How long should each section be?

Chapter Brief outline of contents

Abstract (between 200 and 400 words)

Introduction

(approx. 1000 words) Brief scene setting (what the dissertation is about and the reason for the study)

Aims and objectives

Brief description of the method used to undertake the study

Summary of the main findings

Brief explanation of the structure of the dissertation

Literature review (3000-3500 words) Reasonably detailed, focused literature review, leading directly to the research question or hypothesis

Research design

(approx. 1000-1500 words) A brief description of the research design and justification in relation to relevant literature

An adequate elaboration of the design choices

A clear understanding of the limitations of the design choices

Results and discussion

(approx. 3000 and 2000 words if done separately) Depending on the best way of presenting the data, there may be two separate chapters.

Results section:

Findings from the collation and/or gathering of primary and/or secondary data) presented in a focused way, i.e., in such a way as to be able to lead easily and effectively to the discussion chapter.

Discussion section:

Presenting the findings from applying quantitative and, where appropriate, qualitative data analysis techniques to data considered

This must be offered an orderly manner in relation to the central hypothesis(es)/argument.

Students should also compare their findings and concepts used in relation to those of other relevant studies.

Conclusions chapter

(1000-1500 words) Findings from discussion chapter presented clearly in the light of the main limitations in the research design

The implications of the study for future academic research, including ways of reducing the studys limitations

The implications, if any, in terms of existing literature and theory.

(Do NOT include recommendations these are not appropriate for a dissertation)

Evidence of the research process undertaken

All raw data, detailed tabulations and calculations relied on in the dissertation that are not already included. There should be a clear audit trail from the data to the analysis.

All completed data-gathering instruments (eg. questionnaires or tapes/notes from interviews)

Full end references, indicating sources and dates cited (see Appendix B)

The word limit excludes appendices. Appendices should include information that would hamper the readability and flow of the report if presented in the main body. They should not be used as a way of avoiding compliance with the word limit.

5.6.2 FAQ - Before the submission deadline:

When is my submission due?

See section 5.1.

My data file is too large for Moodle

Dont leave this till the last minute discuss with your supervisor.

I have checked with other students and no one can see the submission link.

Links are made available several days before the submission is due. If you want to submit early please email gbs-studentsupport@greenwich.ac.uk.

I cant find the handbook / I cant upload my work to Moodle / I cant see the submission link.

First, check you have registered for the new academic year. For ANY technical problem you should FIRST check whether other students are having the same problem. If not, then contact gbs-studentsupport@greenwich.ac.ukto see what is wrong with your account. If other students are having the same problem then ask your student liaison rep to contact the module leader to resolve what is clearly a broader problem. Under no circumstances should you email assignments or submissions to the module leader or your supervisors your email will be deleted and will not count as a submission.

I cant submit by the deadline/I missed the deadline/I have had problems collecting data, can I get an extension submission?

If you think you will be unable to submit your dissertation by the due date, please do NOT write to the module leader or anyone else asking for an 'extension' - no such thing is permissible. You should refer to the guidelines on the student portal for extenuating circumstances. In general, you are expected to have undertaken a project with available data.

I have heard from other students that we need to

Ignore what you have heard from other students! Every year a minority of students lose marks because they include or exclude something from their dissertations based on what they have heard from other students. Check for yourself. Read this handbook. Look at the portal.

How should the dissertation be formatted?

Specification for text on the title page:

Brief title of dissertation

Student name

Student ID

Year of submission

Programme (e.g., M.Sc. Accounting & Finance)

Institution (Department of Accounting and Finance, University of Greenwich)

Name of supervisor

Towards the bottom of the page the following statement should appear:

A dissertation submitted in partial fulfilment of the requirements of the degree of Master of Science

Below this should appear a word count for the main body of the report, excluding acknowledgements, footnotes, diagrams, tables, bibliographic details, and appendices.

What other information should be included?

This information to be inserted on the following page after the title page:

I hereby declare that this work has not been previously accepted in substance for any degree and is not being concurrently being submitted by another candidate for any degree.

I further declare that this dissertation is being submitted in partial fulfilment of the requirements for the degree of MSc in <programme title> and it is the result of my own independent work except where otherwise stated. Other sources are acknowledged by explicit references. A bibliography is also appended.

In presenting this dissertation in partial fulfillment of the requirements for a degree from the University of Greenwich, I authorise the Department library of the University of Greenwich to lend my dissertation to individuals or other institutions for the purposes of private study.

I further authorise the University of Greenwich to reproduce my dissertation by copy or by other means, in whole or in part, at the request of individuals or other institutions for the purpose of private study. It is understood that any copy, use or publish of my dissertation in whole or in part thereof for any financial gain should not be allow without my written consent.

Finally, I hereby give consent for my dissertation to be available for photocopying and interlibrary loan and for the title and abstract to be made available to outside organisation.

5.6.3 FAQ - Marking and feedback:

What are the criteria for marking my dissertation?

Your dissertation will be marked by two examiners, of whom the first is usually your supervisor. All failed dissertations and a sample of passed dissertations are sent to the external examiner. The criteria are shown in Appendix E.

I cant see the feedback.

Feedback is provided either in a text box on the headersheet OR in the text area to the right of the main pane where you will need to select the right icon to read it.

but I feel this mark is unfair

Please remember that you are not a professional marker and consider the professional expertise of the academics before you raise a query. The tutors mark across a wide range of students and against a standard. If you dont agree with the mark, then the burden of responsibility is on you to understand why the mark was awarded. The marks have been awarded by an experienced academic and moderated by another academic. All marks will be reviewed by an external examiner from another university. Please DO NOT send an email asking for your work to be re-marked as we are not able to do this. (We understand that you worked very hard and expected to receive a higher mark but unfortunately marks are not awarded for effort.)

If you do not understand any of the feedback provided, please email your tutor for an appointment. Your supervisor will explain the feedback if you do not understand it. However, you must read the feedback given on Moodle before you ask for an appointment.It is also important to understand that any appointments willNOTbe a discussion of your grade or changes to the grade.

I cant see my work on Moodle but I know I submitted it!

After the submission date the links will be hidden from students. This means that you will not be able to see or access your work again until the marks are released.

What happens if I have failed my dissertation?

Students are expected to submit in September of the year immediately following the end of the taught part of the programme, unless they have applied for extenuating circumstances. Students are normally permitted a maximum of three consecutive attempts to pass the Dissertation module, unless there has been a successful application for an extenuating circumstance. In line with University regulations, all failed dissertations that subsequently achieve a pass will be capped at a mark of 50%. Students who have failed will receive a formal letter after the Progression and Award Board has met advising them of their next submission deadline. You do not need to contact your personal tutor, supervisor, or module leader for this date.

I am resubmitting my dissertation after receiving a fail mark. What do I need to do?

Students who receive a fail mark should look at the written feedback and also discuss the work with their supervisor before improving it and resubmitting at the next submission point. Students should NOT begin a new topic. Students who submit a revised dissertation are required to include information indicating where the dissertation has been improved or changed. This can be shown in a different colour font or as tracked changes (while ensuring that the work is legible), or via a separate page at the beginning of the dissertation that lists the feedback received, the changes made, and the relevant pages. See Appendix D for an example.

The mark shown on Moodle is showing as 50% of the mark I was awarded why?

Ignore this it is a quirk of the system. The correct mark is on Turnitin and this will be on your transcript once approved.

Other students have received their marks but I have not why?

Dissertation marking takes longer than coursework marking so some marks might be released before all marking has been completed. You do not need to tell us that you dont have a mark because we can see it on the system too! Dissertations that are being reviewed for plagiarism will take longer to process. All students who have submitted a dissertation will be awarded a mark in time for the Progression & Award Board, which is generally two months after the submission date.

Key tips for managing your relationship with your supervisor:

First, and most importantly, your supervisor is also your first examiner, so if your supervisor is happy with your progress and your work you are more likely to pass the module!

Other tips:

Your supervisor plays a key role in helping you to undertake and complete your dissertation. However, it is YOUR dissertation and therefore it is YOUR responsibility to manage it through to completion. At the beginning you will probably have more questions to ask your supervisor about the process (eg. Have I read all the relevant literature in this area?), and at the end you will require more guidance on the content (eg. Are my conclusions clearly stated?).

In particular, you are responsible for managing your supervisors time. Do not expect your supervisor to be available at your convenience, particularly at very short notice or during holidays. Plan their time as well as your own. Try to arrange a meeting a week or two in advance, so that you know that they will be available. This will also act as an incentive to undertake some work for the meeting. Do not be tempted to delay or cancel meetings as their purpose is to ensure that your dissertation remains on track.

You are advised to work regularly and consistently on your project. This will help you to progress in small chunks and ensure that you have something to discuss. If you have not progressed as far as you had hoped, then your supervisor can discuss this with you. Experience shows that students who rarely meet with their supervisors are more likely to fail both the Research Methods and the Dissertation modules.

Never go to your meetings with a supervisor empty handed. The content of the meeting will be driven by you, so make sure that you have something to discuss or to ask. If you wish them to comment on a short piece of writing, you should aim to send it to them four or five days beforehand (but you should check with them first).

Your supervisor is more likely to respond quickly and enthusiastically to requests for help if you ask them to focus on just a few issues, eg. Are the aims and objectives clearly stated? Does the literature review address the aims and objectives?

According to Potter (Doing Postgraduate Research, Sage, 2006) students who succeed in dissertation exhibit honesty in their relationship with their supervisor, are articulate, keep their supervisors informed of their progress, are respectful, and take responsibility for their own behaviour.

Remember that what you get from your relationship with your supervisor is a function of what you put into it.

Warning we will not tolerate students harassing their supervisors for replies to emails. If you have planned your activities with your supervisor then you will know what you need to do and by when.

The role of the supervisor is to:

Advise the student throughout the process

Help the student establish and stick to a timetable

Challenge the student on their approach

Direct the student to an adequate and appropriate range of literature

Provide feedback on the quality of the argument/structure etc.

Advise the student of adequate standards of data collection and analysis

Check and sign-off any materials being sent to external sources (eg. surveys and covering letters)

Your supervisor will:

NOT write your dissertation for you.

NOT make detailed corrections to your drafts.

NOT know the answers to all your questions

NOT be available at your convenience

NOT prepare a timetable or schedule of work for you

NOT chase you for work

NOT read or mark your complete dissertation at any time prior to submission

NOT comment on your work in the final two weeks prior to submission

Textbooks

A wide variety of textbooks is available in the library. Students are also advised to consult previous dissertations (available on Moodle) to appreciate the different ways of presenting their work, and to increase their understanding of the essential elements in each chapter.

APPENDIX A

This page to be included at the front of your dissertation immediately after the header sheet.

Name: _________________________

(note: dissertations are exempt from anonymous marking. This is to ensure that your supervisor is one of the two academics who marks your dissertation.)

ID: ____________________________

Title: ___________________________

Supervisor: ______________________

Checklist for submission

Please indicate in the table below that the information has been included. Its purpose is to help you check that your submission is complete. Any missing information will delay the marking of your dissertation, and may lead to a delay in graduation.

Forms that are incorrectly completed will be penalised by up to 10 marks.

Tick to indicate that these have been included

Dissertation to be saved in Word (NOT pdf) Filename formatted as follows:

<supervisors surnameyour surname-brief title of dissertation> Eg. Russo-Yang-capital structure China.docx Formatting: font size 12, all pages numbered, line spacing of 1 or 1.5, margins of 2cm Statement included at the beginning of your work (see FAQ 10) Calculations and analyses used in this dissertation (eg. Excel spreadsheets) (see Appendix B (ii)) submitted via a separate link in Moodle) Full web browser addresses or other evidence for all source material cited in your Moodle submission (Appendix C (i)) Submission of data or other information that cannot be uploaded to Moodle (eg. handwritten questionnaires) (see Appendix B (ii)) should be discussed with your supervisor to share via physical or via a link For students who failed an earlier submission and are now resubmitting their dissertation, details of those changes made since the previous submission (see Appendix C) If any of the above is omitted, please provide a brief explanation here:

-10795011684000

Appendix B

Evidence of sources referenced missing info will attract a penalty of up to 10 marks

In addition to full Harvard-style referencing throughout the document, the following details must be provided in the bibliography for each source in parenthesis as follows:

For each journal article or similar reference accessed through an electronic data base: the full Internet address and date(s) accessed, as follows:

Barkema, H. G., Gomez-Mejia, L. R., 1998, Managerial Compensation and Firm Performance: A General Research Framework, The Academy of Management Journal, Vol. 41, No.2, April 1998, pp. 135-145,

Available from: http://www.jstor.org/stable/257098[accessed 15/11/08]

For books, monographs, and journal articles read in hard copy: the name of the library from which the material was obtained and, where available, the full Library classification number where it is shelved.

For books or other information purchased or obtained by the student: full details of how/when acquired.

Raw material and analyses missing/incomplete data will attract a penalty of up to 15 marks

All the raw material used to obtain the primary and/or secondary data (e.g., tables of stock exchange prices, copies of pages down loaded from web sites with the web address clearly shown, all completed questionnaires; or all tapes of interviews & interview schedules, etc ) presented in and/or relied upon the body of their dissertations; and full details of all calculations, etc. used in any statistical or other analyses presented in the body of their dissertations).

Details of all analyses conducted (eg. Excel spreadsheets)

Where possible this material should be uploaded to Moodle via the link indicated. Submission of evidence that cannot be submitted electronically (e.g., completed questionnaires) should be discussed with your supervisor and shared via physical evidence or a link. These are not included in the word count.

Where this information has not been provided, examiners will request it before marking. This may delay the marking process and hence your graduation.

APPENDIX C

Dissertation resits

FINA 1037/1124

Instructions for resubmissions:

If you have previously failed your dissertation and are resubmitting you are required to insert a page at the beginning of your resubmitted work providing details of the changes you have made to this submission. This should be in tabular form as follows, and each required section should contain a substantive explanation that enables the examiners to understand clearly the changes that you have made and to find them easily in your dissertation.

Any substantially new material should be indicated in your dissertation using bold or coloured text. You do not need to indicate text that has been removed this can be mentioned in the table.

Comment from examiner How I have addressed this examples

The information contained here should be substantive. Content that is vague, incomplete, or difficult to understand will result in a penalty.

The content in this column should be no more than 300 words.

Example Research question is not clear See p. x / section x Research question has been rewritten as follows: xxxxxxxxxxExample - Literature review contains insufficient current references References added: Smith (2003) on p.x to support the arguments for., Brown (2006) on p.x provides additional information about.

Example method section is weak Method section now contains additional information as follows:

p.25 additional material with regard to

p.27- additional material with regard to

p.xp.xExample bibliography does not include web browser addresses These have now been included

APPENDIX E

Note following the migration of all marking to Moodle, we no longer use this form. However, we still apply the same criteria when marking each dissertation.

-39179521590CRITERIA

00CRITERIA

Excellent Good Average Weak Unaccept-

able

1 (a) Focus/structure of research project

(b) Methodology/research design 2 (a) Findings/presentation of data

(b) Results/analysis 3. Conclusions, recommendations, etc 4. Overall assessment Note: Due to the interdependencies between the different sections, these criteria are not quantitatively equivalent; that is, they are not weighted evenly.

1 (a) Focus/structure of research project

- Clear aims and objectives leading to a focused literature review based on appropriate academic journal articles and other relevant literature, of suitable length and depth, i.e., one that looks analytically and in adequate detail at what other researchers and investigators in the field have done and in such a manner as to directly contribute to developing the broad aims and detailed objectives of the research project in relation to the work of others. It is not acceptable to present secondary data culled from professional publications, web sites, etc. as a literature review.

- A clear statement of the contribution the student believes s/he is making to the literature.

- The argument, research question(s), or hypothesis/es should be derived directly from the literature review and should be clearly stated

(b) Methodology/research design

- Academic literature used to develop an appropriate research design. Methodological and method choices (eg. population studied, sample size, period investigated) should be fully described, explained and justified drawing on appropriate sources.

- Awareness of limitations of methodological and method choices made and their implications for the study.

- Awareness of alternative design possibilities and a coherent discussion of their suitability or otherwise.

2 (a) Findings/presentation of data

- Where relevant to the study design, appropriate quantity and quality of secondary data suitably referenced.

- If required by the research project methodology, suitable quantity and quality of primary data, clearly presented.

(b) Results/analysis

- Clear, focussed, and logical analysis of data, presented in appropriately analytic themes that, where relevant, integrate data obtained from different sources or methods.

- As required by the study design, appropriate and effective use of statistical and/or other forms of analysis

- An analysis which adequately integrates data with relevant theory, i.e., drawing on suitable journal-based and other academic frameworks.

- Findings that are presented in a descriptive way will be inadequate.

3. Conclusions

- Effective, meaningful conclusions drawn in the light of a clear awareness of prior literature and of the limitations of the research method employed in this study

- The implications of the findings of this study in relation to existing theoretical or policy frameworks or the literature, including an indication of relevant areas for future research

- This section should present a contribution to the academic literature, and NOT provide recommendations

4. Overall assessment

- Main strengths and weaknesses of the research project

- Clear & logical development of the research project, & appropriate links between chapters

- Central hypotheses/argument clearly evident through the whole research project such that an analytic piece of work emerges. Largely descriptive studies are not acceptable

- Good standard of spelling, grammar and an adequate literary style

- Suitable abstract, including the results from the study, and an appropriate introduction, setting out the main aims and objectives

- Appropriate referencing in Harvard style throughout the study

- BRIEF COMMENTS ON THE SUPERVISION PROCESS FROM THE SUPERVISOR ONLY: In particular, frequency of supervision, completion of requested work,

and the way in which it emerged (ie. in stages through close contact with you, or without you as supervisor having much or any involvement in the production of

the work.

The evidence of research undertaken in preparing the research project.

All raw data used, presented and relied upon (eg. stock market prices, completed questionnaires, interview data), either on a CD or attached as appendices

Full details of all calculations used in any analyses, either on CD or attached as appendices

Record of contacts signed by the supervisor

Complete and accurate bibliography indicating dates of access

If you judge the evidence of research undertaken to be inadequate, please specify any further requests you have made of the student in order for the marking process to be completed.

If the research project has been failed, please note any recommendations or requirements for resubmission

Appendix F: Assessment Criteria for Dissertation

MARK BAND EVALUATION

80% + A+

Highest academic standards A superior piece of work that reaches the highest possible academic standards

70 - 79% A

Excellent Clear statement of objective(s); strongly focused throughout with an excellent structure, clear logic, well presented, good style and correct referencing

Extensive and appropriate use of relevant literature, concepts, theory and analytical techniques

Clear and appropriate methodology and research design; methods of data collection and analysis applied in an extensive and appropriate way; understanding of limitations of research design, and significant attempts made to counteract

Can withstand critical outside appraisal/probably publishable in some form or other

Makes a useful contribution to the accounting and/or finance disciplines and rests on adequate amount of well gathered data and well integrated with theory

Clear and significant conclusions and/or recommendations that develop out of the argument; identifies areas not covered/future work required.

60 - 69% B

Good Clear statement of objective(s); weak in some of the following: focus, structure, logic, presentation, style and referencing

More limited range of literature, concepts, theory and analytical techniques than `A' above but still satisfactory

Competent handling of methodological/research design issues; methods of data collection and analysis applied in an appropriate way; understanding of limitations of research design, and some attempts made to counteract

May be publishable after a considerable amount of work

Solid piece of work which makes some contribution to the accounting / finance disciplines and rests on appropriate data suitably gathered and adequately integrated with theory

Clear conclusions; some efforts to identify areas not covered/future work required.

55 - 59% C

Average Objective(s) identified; noticeable efforts to focus work with structure, logic, presentation, style and referencing adequate but not to the extent of `B' above

Standard literature used in a routine way; limited development of concepts, theory and analytical techniques

Methodology/research design indicated but not particularly strong; limited choice and use of methods of data collection and analysis; limited understanding of limitations of research design, with little or no attempts made to counteract

Publication not a realistic prospect

Strictly limited contribution to the discipline

Conclusions and/or recommendations stated and some indication of areas not covered.

50 - 54% D

Satisfactory Objective(s) stated only; problems with focus, structure, logic, presentation, style and/or referencing

Standard literature used in a clearly limited way; some problems with concepts or theory

Methodology/research design not adequate; limited choice and use of methods of data collection and analysis; poor understanding of limitations of research design

No substantive contribution to the discipline

Conclusions and/or recommendations not sufficiently developed

% F

Fail Little or no evidence of understanding the issues or ways of tackling them; descriptive rather than analytic

Poor and/or incorrect use of literature and/or theory; limited choice of literature

Methodology/ research design; poor choice and use of methods of data collection and analysis

Inadequately stated conclusions

ESG IMPACT ON PERFORMANCE ON TOP 5 LISTED FIRMS AFTER COVID-19

Table of Contents

TOC h u z t "Heading 1,1,Heading 2,2,Heading 3,3,Heading 4,4,Heading 5,5,Heading 6,6,"Chapter 1: Introduction PAGEREF _Toc131442134 h 21.1 Research Aims PAGEREF _Toc131442135 h 21.2 Research Questions PAGEREF _Toc131442136 h 31.3 Research Hypothesis PAGEREF _Toc131442137 h 3Chapter 2: Literature Review PAGEREF _Toc131442138 h 32.1 ESG Methods PAGEREF _Toc131442139 h 32.2 Cost and Value of ESG PAGEREF _Toc131442140 h 42.3 Impact of ESG on Financial Performance PAGEREF _Toc131442141 h 42.4 ESG and Risk Management PAGEREF _Toc131442142 h 5Chapter 3: Research Methodology PAGEREF _Toc131442143 h 53.1 Research Design PAGEREF _Toc131442144 h 53.2 Research Philosophy PAGEREF _Toc131442145 h 63.3 Research Sampling PAGEREF _Toc131442146 h 63.4 Data Collection Method PAGEREF _Toc131442147 h 63.5 Data Analysis PAGEREF _Toc131442148 h 73.6 Ethical Considerations PAGEREF _Toc131442149 h 7Chapter 4: Discussions PAGEREF _Toc131442150 h 8Chapter 5: Conclusion PAGEREF _Toc131442151 h 8References PAGEREF _Toc131442152 h 9

Chapter 1: IntroductionInvestors, regulators, and the general public have paid more attention to environmental, social, and governance (ESG) aspects in recent years. According to a report by the Global Sustainable Investing Alliance (GSIA), the global sustainable investment will surpass $31 trillion by 2020, suggesting a rise in demand for ESG-compliant goods (GSIA, 2021). Environmental, social, and governance (ESG) variables, sometimes known as environmental, social, and governance (ESG) indicators, are a set of non-financial metrics that examine the ethical and environmental impact of a company (Harjoto & Jo, 2019). The pandemic caused by the COVID-19 virus has challenged businesses around the world with challenges they have never encountered, resulting in a heightened focus on their ESG practices. This dissertation examines the effect of environmental, social, and governance characteristics on the financial performance of the top five publicly traded companies after the release of Covid-19 data. The investigation will concentrate on Apple Inc., which operates in the technology sector, Johnson & Johnson, which operates in the healthcare sector, JPMorgan Chase & Co., which operates in the financial services sector, Unilever plc, which operates in the consumer goods sector, and ExxonMobil Corporation, which operates in the energy sector.

This dissertation will utilize evidence conducted after 2019 to ensure its currency and to account for the impact of the pandemic on environmental, social, and governance (ESG) practices and financial performance. According to research published in Harvard Business Review (HBR), companies with strong environmental, social, and governance (ESG) performance were more robust during the pandemic and had greater stock price performance (Kotsantonis & Ulrich, 2020). Using secondary data from annual reports, sustainability reports, and other publically available sources, the effect of environmental, social, and governance variables on the financial performance of selected firms will be examined. The effects of the Covid-19 epidemic will be seen in statistics during the years 2018 to 2022.

1.1 Research AimsTo comprehend the evolution of ESG methodologies and their influence on financial performance.

To evaluate the pros and cons of the new ESG methodologies.

To evaluate the variation in ESG's cost, value, and profitability.

To examine how corporations are currently spending on ESG and its effect on financial performance.

To evaluate how ESG influences risk management.

1.2 Research QuestionsHow do the cost, value, and profitability of the new ESG compare to conventional methods?

If the ESG strategy may enhance financial performance, by how much?

How much do companies invest in ESG, and what effect does this have on their financial performance?

How does ESG impact risk management, and how can organizations utilize ESG to enhance their risk management practices?

1.3 Research HypothesisH1: ESG impacts financial performance positively.

H2: Companies with greater ESG spending have superior financial success.

H3: ESG influences risk management techniques positively.

Chapter 2: Literature Review2.1 ESG MethodsThe five selected organizations from various areas, including technology, healthcare, financial services, consumer products, and energy, have exhibited differing degrees of ESG approach adoption. Microsoft, for instance, has made tremendous progress in integrating ESG factors into its operations, with an emphasis on lowering carbon emissions and investing in renewable energy, in the technology industry (Microsoft, 2021). Similar to Johnson & Johnson, healthcare firms have prioritized ESG factors like product safety and ethical marketing practices (Johnson & Johnson, 2021). In the financial services sector, companies such as JPMorgan Chase have made promises of sustainable finance and are including ESG factors in their investing decisions (JPMorgan Chase, 2021). Unilever has established an ESG framework in the consumer goods business that prioritizes the responsible procurement of raw materials, the reduction of environmental impact, and the promotion of social sustainability (Unilever, 2021). In the energy sector, firms such as Shell have incorporated ESG factors into their business strategy, focusing on decreasing greenhouse gas emissions, enhancing energy efficiency, and investing in renewable energy (Shell, 2021).

Incorporating environmental, social, and governance (ESG) factors into corporate procedures has the potential to improve financial performance and risk management, as seen by the examples provided. It is crucial to emphasize, however, that the implementation of ESG approaches can also provide hurdles, such as increasing prices and measurement difficulties (Bassen et al., 2019). Evaluating the usefulness of ESG methodologies in enhancing financial performance and risk management in the context of various industries and firm sizes requires additional study.

2.2 Cost and Value of ESGThe cost and utility of ESG have attracted the attention of both academics and practitioners. Although adopting ESG approaches might be costly for businesses, research has shown that these costs can differ by industry (Serafeim & Grewal, 2020). Apple and Microsoft, for instance, have acknowledged substantial expenditures in renewable energy sources and supply chain sustainability (Apple, 2020; Microsoft, 2020). On the other side, healthcare companies such as Johnson & Johnson have prioritized enhancing social impact through their products and services, with a focus on access to healthcare (Johnson & Johnson, 2020).

The value of ESG might also vary based on the company's industry and overall strategy. According to research, organizations with high ESG ratings have superior financial performance, which positively affects their stock values (Grewal et al., 2021). JPMorgan Chase and Bank of America, for instance, have been pioneers in pushing ESG investing products and services, resulting in higher revenue and profitability (JPMorgan Chase, 2020; Bank of America, 2020). Similarly, energy companies such as Royal Dutch Shell and BP have invested in renewable energy sources and environmental practices, with positive financial results (Royal Dutch Shell, 2020; BP, 2020).

2.3 Impact of ESG on Financial PerformanceRecent studies have underlined the significance of environmental, social, and governance (ESG) factors in determining the financial performance of organizations across industries. Businesses that prioritize ESG considerations are more likely to have superior financial performance and risk management procedures. For example, Apple's ESG activities have led to its outstanding financial performance in the technology business (Forbes, 2021). Similarly, Johnson & Johnson has been recognized in the healthcare business for its ESG policies, which have contributed to improving its financial success (Nasdaq, 2020). BlackRock's emphasis on ESG in the financial services business has helped to improve its financial performance and attract new clients (Bloomberg, 2021). Unilever's ESG strategies have been found to increase its financial performance and brand reputation in the consumer products market (Sustainable Brands, 2021). Similarly, Enel's focus on renewable energy and sustainability has contributed to enhancing its financial performance in the energy market (Enel, 2021). These results confirm the notion that ESG practices have a favourable effect on the financial performance of sectors across the board.

In addition, research has shown that organizations that invest more in ESG activities have superior financial performance (Deloitte, 2021). Apple and Unilever, for instance, have proved that investments in ESG may improve financial success. These results indicate that organizations should prioritize ESG measures to improve their financial performance and attract more investors.

2.4 ESG and Risk ManagementESG assists firms across all industries in mitigating sustainability risks. Apple, Johnson & Johnson, JPMorgan Chase, Procter & Gamble, and ExxonMobil recognize the significance of ESG in risk management (PWC, 2021). ESG variables can minimize capital expenses and bankruptcy risk, enhancing financial performance (Chen, Huang, & Wang, 2020). ESG-integrated firms can manage risks more effectively and generate long-term value (Khan, Khan, & Ur Rehman, 2020). Apple, for instance, has decreased its carbon footprint and increased its brand value by using renewable energy to mitigate climate concerns (Apple, 2021). Johnson & Johnson, a healthcare organization, has used ESG methodologies in supply chain management to reduce product safety and environmental sustainability concerns (Johnson & Johnson, 2021). Moreover, JPMorgan Chase employs ESG variables to identify and manage non-financial risks, such as reputational concerns (JPMorgan Chase, 2021). Consumer products business Procter & Gamble is committed to reducing its environmental impact and promoting sustainable sourcing, which decreases environmental risks and increases brand loyalty (Procter & Gamble, 2021). ExxonMobil has eventually cut carbon emissions and invested in renewable energy to mitigate climate risks in the energy sector (ExxonMobil, 2021).

Chapter 3: Research Methodology3.1 Research DesignBecause statistical analysis will be used to test the hypotheses in this study, the chosen research design is quantitative. Specifically, the study will adopt a cross-sectional research approach. This type of study technique involves collecting data at a certain time. The sample will consist of five businesses from various business sectors, selected based on their market capitalization and ESG ratings. Using a cross-sectional approach, the study will be able to determine the influence of COVID-19 on environmental, social, and financial performance over a specified period.

3.2 Research PhilosophyThe research philosophy adopted in this study is positivism. Positivism is predicated on the idea that the social world can be studied objectively and the resulting facts may be evaluated quantitatively. Due to these beliefs, Positivism was selected as the research philosophy (Saunders et al., 2019). According to a positivist research perspective, the purpose of the study is to establish a cause-and-effect connection between ESG practices and financial performance. The researchers are particularly interested in discovering whether or if the two are related. For this examination, it is suggested to employ a quantitative research design and a positivist research ethic. This will allow for a thorough statistical examination of the data, confirming the validity and accuracy of the findings. This methodology is comparable with prior quantitative research that examined the relationship between environmental, social, and governance initiatives and financial performance (Deloitte, 2021).

3.3 Research SamplingThe research will focus on five publicly traded companies drawn from a variety of sectors, notably the technology sector, the healthcare sector, the consumer goods sector, the financial services sector, and the energy sector. The selection of the sample will be determined by their market capitalisation as well as their ESG ratings. The selected companies will have a market capitalization that is greater than $100 billion, and their environmental, social, and governance ratings will come from reputable rating agencies such as MSCI ESG Research and Sustainalytics (KPMG, 2021).

3.4 Data Collection MethodThe collection of secondary data is vital to this inquiry because it will provide a comprehensive picture of the environmental, social, and governance (ESG) policies and financial performance of the selected organizations. Annual reports, sustainability reports, and other publicly accessible sources, such as the companies' official websites and regulatory filings, will be included among the data sources. Using these sources will contribute to the accuracy and dependability of the statistics. In addition to these sources, the study will also include ESG rating firms such as PWC as part of its investigation. Carbon emissions, social responsibility, and corporate governance are just a few of the ESG factors used by ESG rating agencies to evaluate businesses (PWC, 2021). Using such agencies will aid in ensuring that the environmental, social, and governance (ESG) ratings of the selected corporations are based on standardized and widely accepted criteria.

3.5 Data AnalysisQuantitative methods are excellent for this study because they enable statistical data analysis and provide a clear understanding of the relationship between environmental, social, and governance standards and financial success. The data will be described using descriptive statistics, and hypotheses will be examined using regression analysis. This study will employ regression analysis, a prominent statistical technique in the fields of finance and accounting research. This study aims to examine the relationship between ESG practices and financial success. The influence of environmental, social, and governance policies on financial performance will be analyzed in particular using multiple regression analysis. This will be accomplished while correcting for other variables that may affect financial performance. In addition, regression analysis will be employed to determine whether or not businesses that invest more money in ESG enjoy more financial success. This will involve regressing financial performance measures such as return on equity (ROE) and return on assets (ROA) on the firms' environmental, social, and governance (ESG) expenditure while controlling for other variables such as company size, industry, and leverage.

The SPSS application will be utilized for data analysis in this study. SPSS is a well-known piece of statistical software capable of doing regression analysis, descriptive statistics, and a range of other statistical processes. The usage of SPSS will make it easier to conduct a full statistical analysis of the data, which will assure the accuracy and dependability of the findings. Importantly, regression analysis was used in prior studies to evaluate the relationship between ESG practices and financial performance (Deloitte, 2021). It has been established that this methodology is useful for determining the impact of environmental, social, and governance measures on financial performance, which is broadly accepted in the fields of accounting and finance research.

3.6 Ethical ConsiderationsEthical considerations are essential to any research study because they ensure that data collection and analysis are conducted ethically and responsibly. To ensure the reliability and accuracy of the gathered data, the researchers will adhere to a range of ethical norms during the duration of this project. While the research will only employ secondary data obtained from publically available sources, there will be no participants, to begin with. Yet, the researchers will ensure that the study's data sources are reliable and widely accessible to the general public. This ensures that the research is not obtrusive and that individuals' privacy is safeguarded during its execution.

The study will conclude by discussing the limitations and subjectivity of ESG ratings, which are established by entities unrelated to the investigated company. The researchers will also assess the potential repercussions of the study's findings on the sampled companies and industries. This will ensure that the study's conclusions are accurate and will not negatively affect the companies involved. The ethical considerations highlighted during this research will guarantee that the data used is trustworthy, accurate, and obtained responsibly and ethically (American Psychological Association, 2017).

Chapter 4: DiscussionsThis study hypothesises that environmental, social, and governance factors have a beneficial effect on financial performance and risk management techniques. Also, it anticipates finding that businesses that spend more on ESG have better financial performance than those that spend less. The study operates under the presumption that environmental, social, and governance (ESG) factors are gaining a growing amount of importance to investors, regulators, and the general public. The study also operates under the premise that companies that emphasize ESG issues are more likely to achieve higher levels of financial success than their competitors (EY, 2021).

Chapter 5: ConclusionIn recent years, environmental, social, and governance (ESG) factors have grown in importance for businesses, investors, and regulators. This study's objective was to examine the effect of ESG on the financial performance of the top five publicly traded companies in a variety of industries following COVID-19. The analysis of the relationship between environmental, social, and governance (ESG) policies and financial performance employed quantitative methods and utilized secondary data from annual reports, sustainability reports, and other public sources. In addition, ethical considerations about the use of secondary data were factored into the research. The anticipated outcomes of the study suggest that environmental, social, and governance (ESG) issues enhance both financial performance and risk management measures. Typically, businesses that engage more on environmental, social, and governance concerns achieve greater financial success. Businesses, investors, and regulators may find the conclusions of this study valuable for measuring the influence of environmental, social, and governance rules on financial performance and risk management in the post-COVID-19 era.

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