Results 11 to 20 of about 702,692 (301)
ESG rating adjustment and capital market pricing efficiency: Evidence from China
International Review of Economics & FinanceEnvironmental, social, and governance (ESG) ratings serve as an important reference for investors, enabling them to assess the fundamental information of companies and make investment decisions, thereby enhancing capital market pricing efficiency ...
Lei Ruan, Jianing Li, Siqi Huang
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Do ESG Rating Agencies Improve ESG Performance?
Journal of Business EthicsAbstract We examine the effect of coverage by ESG rating agencies on firm ESG performance. We find that, when firm ESG coverage intensifies, its toxic emissions decline and its outstanding ESG ratings improve. ESG coverage is associated with fewer government enforcement actions for environmental and social violations and higher ...
Natalya Bikmetova, Christo A. Pirinsky
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EnergiesThere is a lack of comprehensive evaluation on the impact of ESG rating differences on the green transformation of energy enterprises in the transition era. This study leverages data from companies listed on the Shanghai Stock Exchange in China, applying
Jun Wan, Yuejia Wang, Yuan Wang
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Aggregate Confusion: The Divergence of ESG Rating
Review of Finance, 2022 This paper investigates the divergence of environmental, social, and governance (ESG) ratings based on data from six prominent ESG rating agencies: KLD, Sustainalytics, Moody’s ESG (Vigeo-Eiris), S&P Global (RobecoSAM), Refinitiv (Asset4), and MSCI. We
Florian Berg +2 more
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SSRN Electronic Journal, 2022 We present a model of competition between ESG raters who acquire information about multiple unrelated categories and sell ratings. Raters specializing in different categories maximizes the amount of information transmitted and surplus, and can be the equilibrium outcome.
Azarmsa, E, Shapiro, J
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The Journal of Portfolio Management, 2020 Responsible investors require data to underpin their stock and sector selections. Regardless of the rating agency, bond ratings for a particular issuer are broadly similar. This is not the case for ESG ratings. Companies with a high score from one rater often receive a middling or low score from another rater.
Dimson, E, Marsh, P, Staunton, M
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Do Sustainability Risks Affect Credit Ratings? Evidence from European Banks [PDF]
Amfiteatru Economic, 2022 Targets defined in accordance with Environmental, Social and Governance (ESG) criteria confront the business world, particularly the banking industry, with new challenges.
Reyes Samaniego-Medina +1 more
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The Economic Impact of ESG Ratings
SSRN Electronic Journal, 2022 This study examines the impact of ESG ratings on fund holdings, stock returns, and firm behavior. First, we show that among five major ESG ratings, only MSCI ESG can explain the holdings of US funds with an ESG mandate. We document that downgrades in the MSCI ESG rating substantially reduce firms' ownership by such funds, while upgrades increase it ...
Berg, Florian +2 more
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Are SRI funds conventional funds in disguise or do they live up to their name? [PDF]
, 2015 In recent years, the socially responsible investing (SRI) industry has become an important segment of international capital markets by incorporating ESG (Environmental, Social and Governance) factors into investment selection and management processes ...
Nitsche, Christin, Schröder, Michael
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ESG rating disagreements and stock price crash risk: can distraction, regional digital economy and corporate intelligence maturity play important roles? [PDF]
AJAR (Asian Journal of Accounting Research)Purpose – ESG issues are gaining increasing attention from investors, but the environmental, social and governance (ESG) rating disagreement caused by different standards of rating agencies misleads investors' investment decisions.
Yiyuan Li
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