ESG Disclosure and Portfolio Performance

被引：22

作者：

Bermejo Climent, Ramon ^{[1
]}

Figuerola-Ferretti Garrigues, Isabel ^{[1
]}

Paraskevopoulos, Ioannis ^{[1
]}

Santos, Alvaro ^{[1
]}

机构：

[1] Univ Pontificia Comillas, Fac Econ & Business Adm ICADE, Alberto Aguilera 23, Madrid 28015, Spain

来源：

RISKS | 2021年 / 9卷 / 10期

关键词：

ESG investing; governance; sustainability; volatility; excess returns; PANEL-DATA; TRANSPARENCY;

D O I：

10.3390/risks9100172

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper illustrates the impact of Environmental Social and Governance (ESG) disclosure on European corporate equity performance. In this study, we use an extensive data set of European ESG ratings provided by Bloomberg to demonstrate that ESG disclosure is associated with improved return growth, with the Governance pillar exhibiting the strongest effect on corporate performance. The impact of ESG disclosure on volatility is changing over time, suggesting that the existence of opaque ratings limits the transmission of information disclosure into corporate performance.

引用

页数：14

共 50 条

[31] World ESG performance and economic activity
Angelidis, Timotheos
Michairinas, Athanasios
Sakkas, Athanasios
JOURNAL OF INTERNATIONAL FINANCIAL MARKETS INSTITUTIONS & MONEY, 2024, 93
[32] Manager sentiment, policy uncertainty, ESG disclosure and firm performance: a large language model in corporate landscape
Sahu, Asis Kumar
Debata, Byomakesh
Dash, Saumya Ranjan
INTERNATIONAL JOURNAL OF ACCOUNTING AND INFORMATION MANAGEMENT, 2024, 32 (05) : 858 - 882
[33] Transparency among S&P 500 companies: an analysis of ESG disclosure scores
Tamimi, Nabil
Sebastianelli, Rose
MANAGEMENT DECISION, 2017, 55 (08) : 1660 - 1680
[34] ESG Disclosure and Financial Performance: Survey Evidence from Accounting and Islamic Finance
Shalhoob, Hebah
SUSTAINABILITY, 2025, 17 (04)
[35] Is ESG disclosure associated with bank performance? Evidence from the Visegrad Four countries
Lamanda, Gabriella
Voneki, Zsuzsanna Tamasne
MANAGEMENT OF ENVIRONMENTAL QUALITY, 2024, 35 (01) : 201 - 219
[36] Is the ESG portfolio less turbulent than a market benchmark portfolio?
Abdessamad Ouchen
Risk Management, 2022, 24 : 1 - 33
[37] Is the ESG portfolio less turbulent than a market benchmark portfolio?
Ouchen, Abdessamad
RISK MANAGEMENT-AN INTERNATIONAL JOURNAL, 2022, 24 (01): : 1 - 33
[38] Does It Pay Off to Disclose Sustainability Information? The Effect of ESG Disclosure on ESG Controversies in European Banks
Care, Rosella
Agnese, Paolo
Cerciello, Massimiliano
Taddeo, Simone
BUSINESS STRATEGY AND THE ENVIRONMENT, 2025, 34 (03) : 3294 - 3310
[39] Comparing the informativeness of sustainability disclosures versus ESG disclosure ratings
Eng, Li Li
Fikru, Mahelet
Vichitsarawong, Thanyaluk
SUSTAINABILITY ACCOUNTING MANAGEMENT AND POLICY JOURNAL, 2022, 13 (02) : 494 - 518
[40] Relationships between ESG Disclosure and Economic Growth: A Critical Review
Hassani, Bertrand Kian
Bahini, Yacoub
JOURNAL OF RISK AND FINANCIAL MANAGEMENT, 2022, 15 (11)

← 1 2 3 4 5 →