<?xml version="1.0" encoding="UTF-8"?>
<!DOCTYPE article PUBLIC "-//NLM//DTD Journal Publishing DTD v2.3 20070202//EN" "journalpublishing.dtd">
<article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" article-type="research-article">
  <front>
    <journal-meta>
      <journal-id journal-id-type="nlm-ta">Rea Press</journal-id>
      <journal-id journal-id-type="publisher-id">null</journal-id>
      <journal-title>Rea Press</journal-title><issn pub-type="ppub">3042-3058</issn><issn pub-type="epub">3042-3058</issn><publisher>
      	<publisher-name>Rea Press</publisher-name>
      </publisher>
    </journal-meta>
    <article-meta>
      <article-id pub-id-type="doi">https://doi.org/10.48314/isti.v2i2.46</article-id>
      <article-categories>
        <subj-group subj-group-type="heading">
          <subject>Research Article</subject>
        </subj-group>
        <subj-group><subject>Environmental, Social and governance, Corporate governance, Panel data, Corporate sales changes</subject></subj-group>
      </article-categories>
      <title-group>
        <article-title>The Impact of Environmental Social and Governance on Sales Changes</article-title><subtitle>The Impact of Environmental Social and Governance on Sales Changes</subtitle></title-group>
      <contrib-group><contrib contrib-type="author">
	<name name-style="western">
	<surname> Chen</surname>
		<given-names>Hsien-Ming</given-names>
	</name>
	<aff>Departmant of Continuing Education, Chang Jung Christian University, Tainan, Taiwan.</aff>
	</contrib><contrib contrib-type="author">
	<name name-style="western">
	<surname>Chen</surname>
		<given-names>Shu-Chuan </given-names>
	</name>
	<aff>Departmant of Management and Design, Ming Chi University of Technology, New Taipei, Taiwan.</aff>
	</contrib><contrib contrib-type="author">
	<name name-style="western">
	<surname> Chen</surname>
		<given-names>Chen-Yu</given-names>
	</name>
	<aff>Departmant of Continuing Education, Chang Jung Christian University, Tainan, Taiwan.</aff>
	</contrib><contrib contrib-type="author">
	<name name-style="western">
	<surname>Chen</surname>
		<given-names>Kuan-Ming </given-names>
	</name>
	<aff>Departmant of Management, Chang Jung Christian University, Tainan, Taiwan.</aff>
	</contrib></contrib-group>		
      <pub-date pub-type="ppub">
        <month>06</month>
        <year>2025</year>
      </pub-date>
      <pub-date pub-type="epub">
        <day>18</day>
        <month>06</month>
        <year>2025</year>
      </pub-date>
      <volume>2</volume>
      <issue>2</issue>
      <permissions>
        <copyright-statement>© 2025 Rea Press</copyright-statement>
        <copyright-year>2025</copyright-year>
        <license license-type="open-access" xlink:href="http://creativecommons.org/licenses/by/2.5/"><p>This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.</p></license>
      </permissions>
      <related-article related-article-type="companion" vol="2" page="e235" id="RA1" ext-link-type="pmc">
			<article-title>The Impact of Environmental Social and Governance on Sales Changes</article-title>
      </related-article>
	  <abstract abstract-type="toc">
		<p>
			This research investigates the relationship between Environmental, Social, and Governance (ESG) practices and corporate sales stability within non-financial firms publicly listed in Taiwan over the period 2008 to 2024. Employing panel data regression analysis, the findings demonstrate that robust ESG performance significantly correlates with lower sales volatility. This indicates that proactive engagement in ESG initiatives effectively aids firms in preserving market share and bolstering customer confidence. Additionally, the presence of effective corporate governance mechanisms, such as independent board structures and appropriately aligned managerial incentives, further amplifies this positive relationship. In contrast, firms experiencing frequent ESG-related controversies tend to exhibit increased fluctuations in sales, underscoring the critical importance of comprehensive risk management strategies. The results suggest that integrating ESG principles into corporate strategic planning not only contributes to enhanced financial stability but also establishes a competitive advantage. These insights are particularly valuable for corporate executives focused on achieving sustainable growth and resilience amidst fluctuating market conditions.   
		</p>
		</abstract>
    </article-meta>
  </front>
  <body></body>
  <back>
    <ack>
      <p>null</p>
    </ack>
  </back>
</article>