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Volume 9
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10.3390/risks9100172
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Article

ESG Disclosure and Portfolio Performance

by
Ramón Bermejo Climent
*,
Isabel Figuerola-Ferretti Garrigues
,
Ioannis Paraskevopoulos
and
Alvaro Santos
Faculty of Economics and Business Administration (ICADE), Universidad Pontificia Comillas, C/Alberto Aguilera, 23, 28015 Madrid, Spain
*
Author to whom correspondence should be addressed.
Risks 2021, 9(10), 172; https://doi.org/10.3390/risks9100172
Submission received: 27 June 2021 / Revised: 4 September 2021 / Accepted: 7 September 2021 / Published: 24 September 2021
Versions Notes

Abstract

This paper illustrates the impact of Environmental Social and Governance (ESG) disclosure on European corporate equity performance. In this study, we use an extensive data set of European ESG ratings provided by Bloomberg to demonstrate that ESG disclosure is associated with improved return growth, with the Governance pillar exhibiting the strongest effect on corporate performance. The impact of ESG disclosure on volatility is changing over time, suggesting that the existence of opaque ratings limits the transmission of information disclosure into corporate performance.
Keywords: ESG investing; governance; sustainability; volatility; excess returns ESG investing; governance; sustainability; volatility; excess returns

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MDPI and ACS Style

Bermejo Climent, R.; Garrigues, I.F.-F.; Paraskevopoulos, I.; Santos, A. ESG Disclosure and Portfolio Performance. Risks 2021, 9, 172. https://doi.org/10.3390/risks9100172

AMA Style

Bermejo Climent R, Garrigues IF-F, Paraskevopoulos I, Santos A. ESG Disclosure and Portfolio Performance. Risks. 2021; 9(10):172. https://doi.org/10.3390/risks9100172

Chicago/Turabian Style

Bermejo Climent, Ramón, Isabel Figuerola-Ferretti Garrigues, Ioannis Paraskevopoulos, and Alvaro Santos. 2021. "ESG Disclosure and Portfolio Performance" Risks 9, no. 10: 172. https://doi.org/10.3390/risks9100172

APA Style

Bermejo Climent, R., Garrigues, I. F.-F., Paraskevopoulos, I., & Santos, A. (2021). ESG Disclosure and Portfolio Performance. Risks, 9(10), 172. https://doi.org/10.3390/risks9100172

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