In 2020, the Chinese government announced the “Dual Carbon” goals, making carbon responsibility the most prominent focus within the Environmental, Social, and Governance (ESG) practices of Chinese firms. This shift creates a new type of E...
Given the rising demand for more transparent, consistent, and comprehensive non-financial information in investment, there is a need to provide more reliable, meaningful, and measurable ESG metrics, in a way that most frameworks cannot. Most establis...
The evolving landscape of Corporate Social Responsibility (CSR) has transcended its traditional boundaries, transitioning into Environmental, Social, and Governance (ESG) principles and their more advanced iteration, ESG 2.0. Unlike traditional CSR,...
Implementing ESG is crucial for China’s modernization journey and corporate sustainability. To deeply understand the current standing of ESG in China, this study leverages online data richness using text mining techniques, specifically Latent D...
Environmental, social, and governance (ESG) integration is an increasingly popular and innovative investing strategy that requires companies to be transparent about their ESG practices to facilitate investors’ decisions. In the palm oil sector,...
This study conducted a quasi-natural experiment on Chinese mutual funds that signed the United Nations Principles for Responsible Investment (UNPRI) to examine whether institutional investors’ ESG commitments reduce ESG rating disagreements amo...
The impact of Environmental, Social, and Governance (ESG) scores on financial performance remains a subject of debate, as the literature reports mixed evidence regarding their effect on stock returns. This research aims to examine the relationship be...
Certain economic actors are considered by many as involved in or associated with an activity that is considered unethical or immoral, such as the producers of tobacco, alcohol and firearms (often referred to as sin stocks). In an environment in which...
This study explores the relationship between corporate financial performance and ESG, reporting performance across all three ESG pillars: Environmental, Social, and Governance. We used a robust panel dataset of over 28,274 firm-year observations from...
In recent years, climate issues have become a common challenge for all mankind. It is urgent and important to protect the environment, promote green transformation, and realize sustainable development. Consequently, increasing attention is being paid...
Does having an environmental, social, and governance (ESG) policy have an impact on stakeholders? This research presents a unique model that allows us to measure the economic value of adopting an ESG policy for financial institutions’ stakehold...
Existing global ESG models are limited in terms of applicability and predictability, especially in countries with an unstable environment. On the other hand, utilizing internally made or privately sourced ESG models have caused issues relating to gen...
Transparency in ESG financial materiality disclosure by corporations is now in doubt due to the inconsistent ESG framework that governs ESG disclosures, particularly in developing nations like South Africa. This is evident in the financial performanc...
This study utilizes data from Chinese A-share listed companies from 2014 to 2022 to theoretically analyze and empirically test the governance effect of ESG assurance on corporate greenwashing behavior, as well as the role played by the legal environm...
ESG rating has become a key factor influencing its perception and decision-making of companies, but there are significant differences in the rating results of ESG rating agencies. Current research mainly focuses on the economic impact of ESG rating d...
During the last decade, ESG has become a globally widespread doctrine of good investment principles. ESG defines investing for broader, extra-financial goals by the use of “environmental, social and governance” (ESG) factors. While commen...
Proposing a new scoring method to evaluate the environmental, social, and corporate governance (ESG) performance of Chinese A-share listed companies over the period 2010–2019, this study investigates the impact of ESG on firm value, by taking T...
This study examines the relationship between environmental, social, and governance (ESG) factors and corporate financial performance. Specifically, we study various individual ESG categories, both ESG strengths and concerns, and aggregate ESG factor...
With the rise of responsible investments, the demand for non-financial data has multiplied. Even for those companies who have obtained an environmental, social and governance (ESG) assessment, the scores issued by rating agencies tend to depict diffe...
This study analyzes the relationship between Environmental, Social and Governance (ESG) scores and bond returns using the corporate bond data in Korea during the period of 2010 to 2015. We find that ESG scores include valuable information about the d...
Environmental, social and governance (ESG) issues have been investigated by scholars from several points of view. Although the epidemic of COVID-19 is recent, numerous scholars have analyzed its effects on ESG, making it difficult to systematize curr...
The sustainable development of the global economy and society calls for the practice of the environmental, social and governance (ESG) principle. The ESG principle has been developed for 17 years following its formal proposal in 2004. Countries aroun...
With the development and proliferation of sustainable investing, ESG ratings have gradually become an important basis for measuring corporates’ ESG performance and influencing investors to make investment decisions. However, the validity of ESG...
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 disc...
We used three different databases that cover different years from 2006 through 2023 that provide different insights into the associations of firm features with their E, S, and G scores, as well as the composite ESG score. We find that large market ca...
As investors increasingly use Environmental, Social, and Governance (ESG) criteria, a key challenge remains: ESG data is typically reported annually, while financial markets move much faster. This study investigates whether incorporating annual ESG s...
ESG (environment, social, and governance) scores are becoming mainstream proxies for evaluating sustainability in organizations. In past years, scholars and managers used ESG scores to express the sustainable development of an organization and other...
Instead of the well-known three-pillar model of economic, social, and environmental sustainability, the shift in valuation paradigm to the sustainable realm needs a fundamental methodological and operational modification, with a focus on determining...
China’s chemical industry has faced severe environmental, social, and governance (ESG) issues, such as high safety and environmental accidents and risks. To address these issues and promote industrial upgrading, China’s central government...
This study examines the intricate relationship between ESG considerations and risk profiles of firms by presenting a comprehensive analysis of total, systematic, and idiosyncratic risks. Using 7834 firm-year observations from 2011 to 2022 in the Kore...
This study examines the impact of ESG ratings on corporate green innovation, selecting A-share listed companies in China from 2012 to 2022 as the research sample. Using a multiple-time-point difference-in-differences model, we analyze how ESG ratings...
This paper explores whether the high or low ESG rating of a company is related to the level of its implied tail risk, measured on the basis of derivative data by implied skewness and implied kurtosis. Previous research suggests that the ESG rating of...
Recent findings provide evidence that companies highly rated in terms of Environmental, Social, and Governance (ESG) score report higher excess returns and lower volatility, this being supported by the assumption that ESG factors are considered, by m...
Environmental, Social, and Governance (ESG) finance is a cornerstone of modern finance and investment, as it changes the classical return-risk view of investment by incorporating an additional dimension to investment performance: the ESG score of the...
In recent years, environmental, social, and governance factors (ESG) have played an increasingly significant role in the practice of corporate development of widespread concern. For corporate ESG, it is still necessary to consider the factors that in...
One of the main controversial aspects of sustainability metrics relies on the accuracy, transparency, and reliability of the information at the basis of environmental, social and governance (ESG) scores. This paper investigates whether firms that hav...
Firm value reflects a company’s market competitiveness, while ESG controversies indicate its ESG risks. This study aims to examine the impact of ESG controversies on firm value and its underlying mechanisms. Using a panel dataset of 851 non-fin...
Although more and more private equity (PE) firms are integrating environmental, social, and governance (ESG) factors into their investment strategies, there is no clear understanding of their reasons, the details of their activities, the tools they u...
This article examines connections between religious nationalism, extremist movements, and environmental politics, with a focus on environmental, social, and governance (ESG) frameworks and debates in the United States since 2020. It begins with a bri...
The effect of considering the financial materiality of ESG (environmental, social and governance) issues on firms’ ESG performance scores and rankings is investigated using Morgan Stanley Capital International (MSCI) ESG Ratings and the financial Mat...
This study investigates how major agricultural commodities interact with diversified U.S. equity funds, sorted by their environmental, social, and governance (ESG) risk exposure. Using daily Morningstar data on 880 U.S. equity mutual funds, we constr...
In the context of increased awareness for complying with the multiple requirements for sustainable development, the stakeholders need to have the proper information for analyzing the corporate behaviors from various perspectives. Thus, the purpose of...
This study examines the influence of the diversity of the board of directors (BoD) and the environmental, social and governance (ESG) performance of 105 Italian banks during the period 2017–2021. Our analysis investigates board diversity in ter...
In this paper, we investigate the impact of fund style drift away from sustainability on future fund flows and performance within the Chinese market. Utilizing data from four mainstream ESG rating systems, we develop a novel measure of ESG fund style...
The aim of this study was to examine the impact of environmental, social, and governance (ESG) measures on credit ratings given to non-financial institutions by the largest credit rating agencies according to economic sector divisions. The hypotheses...
ESG standards are increasingly becoming indispensable factors in corporate decision-making, with profound implications for the long-term sustainability of businesses. This study utilizes longitudinal data from 2010 to 2021 to investigate the influenc...
Institutional investors who commit to integrating environmental, social and governance (ESG) aspects into investment decisions require ESG data of sufficient quality. However, concerns have risen over a lack of quality in ESG data, as outlined by the...
The main objective of this paper is to examine the impact of ESG management on corporate performance by focusing on board characteristics. To this end, this study uses financial data and empirical panel data of Fortune 300 firms from 2008 to 2021 and...
Smart beta strategy is an increasingly frequent approach to investment analysis for portfolio selection and optimization and it can be combined with environmental, social, and governance (ESG) considerations. In order to verify the impact of the inte...
In light of the growing interest in sustainable finance among investors and academics, in this study, we present an empirical analysis designed to understand whether sustainable investments outperform, underperform, or perform neutrally relative to c...
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