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Cited by 768

The DOI matches its Crossref record; 45 of the 45 references it cites were found in a registry or an index.

ESG Rating Disagreement and Stock Returns

Open access
Gibson Brandon, Rajna, Krueger, Philipp, Schmidt, Peter Steffen·2021·Financial Analysts Journal
DOI 10.1080/0015198x.2021.1963186
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Abstract

Using ESG ratings from seven different data providers for a sample of S&P 500 firms between 2010 and 2017, we study the relation between ESG rating disagreement and stock returns. We find that stock returns are positively related to ESG rating disagreement, suggesting a risk premium for firms with higher ESG rating disagreement. The relation is primarily driven by disagreement about the environmental dimension. We discuss the practical implications of our findings for firms’ equity cost of capital as well as for investment managers and asset owners who use ESG investment strategies.

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Crossref · 10.1080/0015198x.2021.1963186

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Metadata

Authors
Gibson Brandon, R., Krueger, P., & Schmidt, P. S.
Venue
Financial Analysts Journal
Publisher
Informa UK Limited
Published
2021-09-23
Volume
77
Issue
4
Pages
104-127
ISSN
  • 0015-198X (ISSN-L)
  • 1938-3312
DOI
10.1080/0015198x.2021.1963186
OpenAlex
W3121465167
Cited by
768
References
45
FWCI
79.02
Type
journal article
Language
en
Open access
gold

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CoChat. (2026). Citation check: ESG Rating Disagreement and Stock Returns. https://app.cochat.ai/papers/10.1080/0015198x.2021.1963186
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Gibson Brandon, R., Krueger, P., & Schmidt, P. S. (2021). ESG Rating Disagreement and Stock Returns. Financial Analysts Journal. https://doi.org/10.1080/0015198x.2021.1963186

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.