During the crash period, high-CSR Durables (Chemicals) earn significantly lower excess returns, but only based on MSCI ESG Stats (Refinitiv) ratings; high-CSR Business and Healthcare earn significantly higher excess returns, but only based on Refinitiv ratings. During the recovery period, only...
Good governance is foundational to effective capital markets, promoting accountability, transparency and sound decision-making aligned with investor interests. But how do those potential benefits translate into market performance? Well today, we answer that question for you! We answer the question: does ...
MSCI ESG Disclaimer: Although Haitong International's information providers, including without limitation, MSCI ESG Research LLC and its affiliates (the "ESG Parties"), obtain information (the "Information") from sources they consider reliable, none of the ESG Parties warrants or guarantees the ...
Third-party providers such as MSCI, Morningstar Sustainalytics, Bloomberg, and S&P publish ESG scores for companies and funds. ESG analysis, however, cannot be captured by quantitative analysis alone. There is a qualitative component that considers the importance attached to each ESG factor and th...
Goodwill publicity is sought through ESG investment to mask poor performance [36]. 2.2. Hypothesis development 2.2.1. Board independence and ESG investment According to agency theory, independent directors provide the mechanisms for checks required to minimize information disparity and ameliorate agency ...
2.4. ESG Risk and Its Impact on Bank Activity and Performance The issues related to finance, sustainability, and sustainable adaptation are closely interrelated [39]. ESG risk is currently reflected both in ESG and credit ratings; however, in the case of the BIG Three (i.e., Standard & Poo...
Corporate social responsibility and financial performance: The impact of the MSCI ESG ratings on Korean firms. J. Korea Acad. Ind. Coop. Soc. 2013, 14, 5586–5593. [Google Scholar] Peillex, J.; Boubaker, S.; Comyns, B. Does It Pay to Invest in Japanese Women? Evidence from the ...
In order to avoid measurement bias, some scholars have used standardized ESG ratings provided by external ratings agencies, such as Kinder, Lydenberg and Domini (MSCI KLD Social Index), Bloomberg, and Thomson Reuters Eikon. Among them, the KLD index, a recently developed measure, explicitly ...
Environmental, social, and governance (ESG) performance may be one of the strategies firms adopt to enhance their financial flexibility in response to an increasingly uncertain environment and difficult sustainability conditions. We use A-share listed firms in China from 2015 to 2020 as samples to ...
These findings provide new insights into the role of fintech development in promoting sustainable social and economic development. Keywords: fintech; financial constraints; ESG performance 1. Introduction In the context of the current global advocacy of green and sustainable development, governments and ...