Based on a sample of Italian listed firms, this paper investigates these divergences through a framework that decomposes ESG ratings into a value and a weight component at the pillar (i.e. E, S, and G) and category (i.e. sub-pillar) levels. We find that weights divergence and social ...
They concluded while ESG ratings rarely provide diametrically opposing assessments, the dispersion makes it difficult to identify businesses that are ESG leaders from average performers. To explain the reasons for divergence, they use a dataset that consists of the aggregate ratings along with the full...
摘要: This paper investigates the divergence of environmental, social, and governance (ESG) ratings based on data from six prominent ESG rating agencies: KLD, Sustain关键词: Corporate Social Responsibility Corporate Sustainability ESG Rating Agencies ESG Rating Disagreement ...
Aggregate confusion: the divergence of ESG ratings. Rev. Finance 26, 1315–1344 (2022). Article Google Scholar Christensen, H. B., Hail, L. & Leuz, C. Mandatory csr and sustainability reporting: economic analysis and literature review. Rev. Account. Stud. 26, 1176–1248 (2021). Article...
Berg F, Kölbel JF, Rigobon R (2022) Aggregate confusion: the divergence of ESG ratings. Rev Financ 26(6):1315–1344. https://doi.org/10.1093/rof/rfac033 Article Google Scholar Berrone P, Gomez-Mejia LR (2009) Environmental performance and executive compensation: an integrated agency-in...
ESG Ratings are Noisy. Buyer Beware. June 9, 2022academicalphaUncategorized Aggregate Confusion: The divergence of ESG ratings Florian Berg, Julian F. Koelbel, and Roberto Rigobon MIT Working Paper A version of this paper can be found here Want to read our summaries of academic finance papers?
Aggregate confusion: The divergence of ESG ratings Rev. Financ., 26 (2022), pp. 1315-1344 10.1093/ROF/RFAC033 CrossrefView in ScopusGoogle Scholar Bizjak and Jeffrey, 1995 J. Bizjak, C. Jeffrey The effect of private antitrust litigation on the stock-market valuation of the firm Am. Econ...
(2022). Aggregate confusion: The divergence of ESG ratings. Review of Finance, 26(6), 1315–1344. Article Google Scholar Boffo, R., Marshall, C., & Patalano, R. (2020). ESG investing: Environmental pillar scoring and reporting. OECD Paris. https://www.oecd.org/finance/esg-investing-...
sentiment, analysts’ forecast divergence and coverage, and firms’ age, size, and industry and also holds for stocks with negative screens. Hence, I enhance the robustness of the finding that companies with higher ESG ratings show lower idiosyncratic stock risk (see e.g., Monti et al.2019)...
(2022), “Aggregate confusion: the divergence of ESG ratings”, Review of Finance, Vol. 26 No. 6, pp. 1315-1344. Billingsley, R.S., Lamy, R.E., Marr, M.W. and Thompson, G.R. (1985), “Split ratings and bond reoffering yields”, Financial Management, Vol. 14 No. 2, pp....