The Consolidation of the ESG Rating Industry as an Enactment of Institutional Retrogression

被引：107

作者：

Avetisyan, Emma ^{[1
]}

Hockerts, Kai ^{[2
]}

机构：

[1] Audencia Business Sch, Nantes, France

[2] Ctr Corp Social Responsibil CbsCSR, Copenhagen Business Sch, Frederiksberg, Denmark

来源：

BUSINESS STRATEGY AND THE ENVIRONMENT | 2017年 / 26卷 / 03期

关键词：

ESG rating agencies; industry consolidation; socially responsible investing; institutional retrogression; CORPORATE SOCIAL-RESPONSIBILITY; PERFORMANCE; INVESTMENT; COMMUNICATION; STAKEHOLDERS; MANAGEMENT; FRANCE; FIELD; WORK;

D O I：

10.1002/bse.1919

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The socially responsible investing (SRI) movement has been aiming to create lasting institutional change by infusing the investment sector with new norms and values. Environmental, social and governance (ESG) rating agencies have emerged in response to the needs of SRI actors for reliable data on the social performance of firms. Since 2005, the ESG rating industry has witnessed a number of national and cross-border consolidations. Based on a set of 37 interviews and secondary data, the paper explores the driving forces behind this consolidation as well as its impact. Our focus is on four ESG rating agencies, based in the United States, the United Kingdom, France and Switzerland. We conclude that in effect consolidation has at least partially resulted in institutional retrogression, whereby the traditional norms and values have reaffirmed their primacy, thereby somewhat negating the institutional change sought by the SRI movement. Copyright (c) 2016 John Wiley & Sons, Ltd and ERP Environment

引用

页码：316 / 330

页数：15

共 68 条

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