The DOI matches its Crossref record; 33 of the 33 references it cites were found in a registry or an index.
Does the ESG Index Affect Stock Return? Evidence from the Eurostoxx50
Open accessAbstract
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 market agents, as a good proxy for firms’ financial soundness. The aim of this paper is to investigate how ESG components affect stock returns. We use a two-step methodology to analyze the performance of companies included in the Eurostoxx50 index over the 2010–2018 period according to their ESG score. To classify companies in terms of ESG commitments, we combine several ESG indicators (quantitative ratings, scorings and qualitative-opinions) collected on a monthly basis. Our results do not support previous evidence; the Eurostoxx50 companies’ performance does not seem to be affected by their efforts in terms of ESG commitments.
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ESG and financial performance: aggregated evidence from more than 2000 empirical studies
Friede, G., Busch, T., & Bassen, A. (2015) · Journal of Sustainable Finance & Investment · doi:10.1080/20430795.2015.1118917 · Cited by 4,631
The impact of corporate sustainability on organizational processes and performance
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Aggregate Confusion: The Divergence of ESG Ratings
Berg, F., Kölbel, J. F., & Rigobon, R. (2022) · Review of Finance · doi:10.1093/rof/rfac033 · Cited by 3,444
Individual and Corporate Social Responsibility
BÉNABOU, R., & TIROLE, J. (2010) · Economica · doi:10.1111/j.1468-0335.2009.00843.x · Cited by 2,237
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Why and How Investors Use ESG Information: Evidence from a Global Survey
Amel-Zadeh, A., & Serafeim, G. (2018) · Financial Analysts Journal · doi:10.2469/faj.v74.n3.2 · Cited by 1,721
Do ratings of firms converge? Implications for managers, investors and strategy researchers
Chatterji, A. K., Durand, R., Levine, D. I., & Touboul, S. (2016) · Strategic Management Journal · doi:10.1002/smj.2407 · Cited by 1,264
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Cited by
ESG disclosure and Firm performance: A bibliometric and meta analysis
Khan, M. A. (2022) · Research in International Business and Finance · doi:10.1016/j.ribaf.2022.101668 · Cited by 566
Metadata
- Authors
- La Torre, M., Mango, F., Cafaro, A., & Leo, S.
- Venue
- Sustainability
- Publisher
- MDPI AG
- Published
- 2020-08-07
- Volume
- 12
- Issue
- 16
- Pages
- 6387
- ISSN
- 2071-1050 (ISSN-L)
- OpenAlex
- W3047976615
- Cited by
- 265
- References
- 33
- FWCI
- 30.13
- Type
- journal article
- Language
- en
- Open access
- gold
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