Begränsningar och förslag på vidare forskning

Datainsamlingen har utgått från Refinitiv Eikons databas vilket kan utgöra en begränsning av generaliserbarheten, eftersom detta endast är en källa för exempelvis det sociala ESG-betyget som tillhandahålls av fler databaser. Att skillnader råder mellan olika ESG-bedömningar är något som konstateras av Chatterji et al., (2016). Anledningen till att data endast inhämtats från en databas är

59 studiens begränsningar i såväl tid som andra resurser. Vi valde att hämta data från Refinitv Eikon dels för att liknande studier i tidigare forskning har gjort det, dels för att öka trovärdigheten i studien. Att inhämta data från flera databaser är ett möjligt tillvägagångssätt för framtida forskning, för att göra mer omfattande och djupare analyser utifrån forskningsfrågorna i denna studie. Genom att inhämta data från flera databaser möjliggörs en jämförelse av det sociala ESG-betygets gedigenhet för att undersöka hur väl de överensstämmer mellan databaserna. Det skulle i sin tur öka potentialen för en ökad trovärdighet i studien om en jämförelse mellan databaserna genomfördes.

En avgränsning har även gjorts avseende både ESG-betyget och företagskontroverser genom att endast studera den sociala aspekten. Avgränsningen grundas i dels viljan att djupare undersöka vilka faktorer som modererar en kontrovers eventuella effekt på företagens finansiella prestation, dels utgör valet en differentiering från tidigare forskning på området. Avgränsningen i sig skulle kunna ifrågasätta generaliserbarheten för hela ESG-betyget och vid beaktande av samtliga kontroverser. I och med studiens differentiering anses detta dock inte vara något problem för studier som riktas till den sociala dimensionen. Mot bakgrund av studiens differentiering finns vidare möjligheten kvar för framtida studier att rikta sig till de övriga dimensionerna av ESG-betyget samt de övriga kategorierna av kontroverser. Ett annat alternativt är att fördjupa aspekterna i denna studie, exempelvis genom att studera de enskilda kategorierna av sociala kontroverser.

Av tidigare studier framgår att det finns skillnader mellan olika länder vad gäller mängden CSR-aktiviteter som redovisas och vidare hur dessa CSR-aktiviteter påverkar den finansiella prestationen (Garcia & Orsato, 2020; Jackson & Apostolakou, 2010). Bland annat konstateras en åtskillnad mellan framväxande ekonomier och mer utvecklade länder huruvida företags hållbarhetsarbete påverkar dess finansiella prestation beroende på var företaget är beläget (Garcia & Orsato, 2020). Det kan även konstateras att det föreligger skillnader i CSR-aktiviteter mellan mer liberala marknadsekonomier, exempelvis Storbritannien, och mer koordinerade marknadsekonomier, som Kontinentaleuropa (Jackson & Apostolakou, 2010). Skillnaderna kan ge en skev bild av företagens CSR-aktiviteter i den mening att mer liberala länder framstår som mer hållbara genom ökad rapportering. Detta för att kompensera för de brister som faktiskt föreligger i och med en friare reglering, jämfört med mer koordinerade marknadsekonomier, där vissa hållbarhetsfaktorer är underförstådda genom ökad reglering (Jackson & Apostolakou, 2010). På grund av ovan anförda skillnader mellan olika länders CSR-rapportering kan det som begränsning till vår egen studie lyftas att vi studerat länder över hela världen för vilka hållbarhetsrapporteringen och effekterna av den varierar. Som tidigare nämnt valde vi att sätta generaliserbarheten framför en avgränsning. Studiens urval speglar populationen men innehåller vidare en stor andel amerikanska förtag. Ett intressant förslag på vidare forskning är därför

60 att göra en uppdelning mellan olika länder och studera om det föreligger några skillnader mellan olika områden.

Slutligen bygger studiens genomförande på en longitudinell design då data från samma företag hämtats för flera år. I avsnitt 3.1.2 beskrevs att en sådan design vanligen används för att studera förändringar över tid (Bryman & Bell, 2017). Vidare framhölls att någon jämförelse mellan åren inte skulle göras utan att valet av design grundade sig i att i högre grad kunna utesluta att studiens resultat inte beror på tillfälligheter eller speciella omständigheter som visat sig just för ett år. I avsnitt 5.1.1 presenterades dessutom en diskussion rörande kontroversers kortsiktiga och långsiktiga effekter. Som förslag på vidare forskning kan därför nämnas att jämföra utvecklingen från år till år för att studera hur effekterna av en kontrovers utvecklar sig över tid.

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