环境、社会和公司治理绩效与可持续发展问题

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE Finance Research Letters Pub Date : 2024-11-06 DOI:10.1016/j.frl.2024.106434

Thanh Nam Vu

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引用次数: 0

摘要

本文分析了 2010 年至 2023 年美国市场股票回报对新引入的可持续发展关注指数的敏感性，该指数基于 LSEG MarketPsych 的媒体指标。研究结果表明，较好的环境、社会和公司治理表现可降低股票对社会可持续发展问题的敏感性，但其影响主要来自公司治理而非环境或社会表现。这项研究强调了企业在环境、社会和治理标准中的良好治理和管理在促进股票回报稳定应对公众对可持续发展问题的关注变化方面的重要作用。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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ESG performance and sustainability concerns exposure

This paper analyzes stock returns' sensitivity to the newly introduced sustainability concerns index based on media indicators from LSEG MarketPsych for the US market from 2010 to 2023. While the results demonstrate that better ESG performance mitigates equities' sensitivity to sustainability concerns in society, the effects are mainly driven by firms' governance rather than environmental or social performance. This study underscores the vital role of good governance and management among ESG criteria for firms in promoting the stability of stock returns to changes in public concerns regarding sustainability issues.

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance