Thesis Defence: Gabriel Teye-Ali (Master of Science in Business Administration)
You are encouraged to attend the defence. The details of the defence and attendance information is included below:
Date: April 8, 2025
Time: 9:00 AM to 11:00 AM (PT)
Defence mode: Hybrid
In-Person Attendance: Library (5-140D), UNBC Prince George Campus
Virtual Attendance: via Zoom
LINK TO JOIN: Please contact the Office of Graduate Administration for information regarding remote attendance for online defences.
To ensure the defence proceeds with no interruptions, please mute your audio and video on entry and do not inadvertently share your screen. The meeting will be locked to entry 5 minutes after it begins: please ensure you are on time.
Thesis entitled: ESG, THE 2008 GLOBAL FINANCIAL CRISIS AND ACCESS TO EXTERNAL FINANCE BY CANADIAN FIRMS
Abstract: This study examines the impact of restricted access to credit on the Environmental, Social, and Governance (ESG) performance of Canadian firms, using the 2008 financial crisis as a stress test. The analysis is guided by two competing perspectives: the Resource Constraint View and the Strategic Value View. We employ the Difference-in-Differences (DiD) methodology to assess how financial constraints resulting from the crisis influenced ESG performance.
Our findings reveal a significant negative impact on the Environmental pillar, confirming that financial constraints led firms to deprioritise environmental commitments. However, the effects on the combined ESG score, as well as the Social and Governance pillars, are less robust, indicating that the relationship between credit access and these dimensions is more complex. These results align with the Resource Constraint View, suggesting that firms prioritise financial stability over sustainability commitments during periods of economic distress.
Further analysis shows that Return on Assets is positively associated with ESG and Social performance, indicating that financially healthier firms are better able to maintain sustainability efforts. Firm Size is positively correlated with all ESG dimensions, highlighting that larger firms are more capable of investing in ESG initiatives. Additionally, the presence of an Audit Board Committee is strongly linked to higher Governance scores, underscoring the role of effective oversight in fostering strong ESG performance.
This study emphasises the critical role of access to external credit in shaping ESG outcomes, particularly in the environmental domain during economic downturns. The findings highlight the need for supportive financial environments to sustain corporate sustainability efforts.
Defence Committee:
Chair: Dr. Karima Fredj
Supervisor: Dr. Leandro Freylejer
Committee Member: Dr. Chengbo Fu
Committee Member: Dr. Komla Avoumatsodo
External Examiner: Dr. Liam Kelly
Contact Information
Graduate Administration in the Office of the Registrar, University of Northern British Columbia