Figure 1
A diagram representing the research framework for the relationship between ESG performance, ESG controversies, CSRD, and dividend payout. The diagram includes several labeled components: ESG Performance, ESG Controversies, CSRD, and Dividend Payout. ESG Performance is further divided into Environmental Performance, Social Performance, and Governance Performance. Arrows indicate the directional relationships between these components. ESG Performance and ESG Controversies both have direct arrows pointing to Dividend Payout. Additionally, CSRD has arrows pointing to Dividend Payout and interacts with ESG Performance and ESG Controversies through various hypotheses labeled H1, H1a, H1b, H1c, H2, H3, and H4. The context of the diagram is specified as the European Union Corporate Sustainability Reporting Directive (CSRD).Research framework