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dc.contributor.authorMeyer, Julia-
dc.contributor.authorSchüpbach, Luca Maria-
dc.contributor.authorUtz, Sebastian-
dc.date.accessioned2021-03-12T13:55:17Z-
dc.date.available2021-03-12T13:55:17Z-
dc.date.issued2020-
dc.identifier.urihttps://digitalcollection.zhaw.ch/handle/11475/21971-
dc.description.abstractWe investigate the capital-market effects of the release of environmental, social, and governance (ESG) scores on the Bloomberg Professional Terminal. To estimate causal effects for a group of treated companies (i.e., stocks with newly available ESG scores), we exploit the unanticipated publication of Sustainalytics ESG scores vis à vis a matched control group in a difference-in-difference setting. We find a significant increase in market liquidity and abnormal returns in the treated group. The most substantial effects prevail in regions with lower ESG awareness and for companies with above-median ESG scores.de_CH
dc.format.extent61de_CH
dc.language.isoende_CH
dc.publisherSSRNde_CH
dc.rightsLicence according to publishing contractde_CH
dc.subjectESG informationde_CH
dc.subjectCapital-market effectde_CH
dc.subjectDifference- in-differencesde_CH
dc.subjectEvent studyde_CH
dc.subjectStock market reactionde_CH
dc.subject.ddc332: Finanzwirtschaftde_CH
dc.titleCapital-market effects of ESG scores : evidence from a quasi-natural experimentde_CH
dc.typeWorking Paper – Gutachten – Studiede_CH
dcterms.typeTextde_CH
zhaw.departementSchool of Management and Lawde_CH
zhaw.organisationalunitInstitut für Financial Management (IFI)de_CH
dc.identifier.doi10.2139/ssrn.3683100de_CH
zhaw.funding.euNode_CH
zhaw.originated.zhawYesde_CH
zhaw.author.additionalNode_CH
zhaw.display.portraitYesde_CH
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Meyer, J., Schüpbach, L. M., & Utz, S. (2020). Capital-market effects of ESG scores : evidence from a quasi-natural experiment. SSRN. https://doi.org/10.2139/ssrn.3683100
Meyer, J., Schüpbach, L.M. and Utz, S. (2020) Capital-market effects of ESG scores : evidence from a quasi-natural experiment. SSRN. Available at: https://doi.org/10.2139/ssrn.3683100.
J. Meyer, L. M. Schüpbach, and S. Utz, “Capital-market effects of ESG scores : evidence from a quasi-natural experiment,” SSRN, 2020. doi: 10.2139/ssrn.3683100.
MEYER, Julia, Luca Maria SCHÜPBACH und Sebastian UTZ, 2020. Capital-market effects of ESG scores : evidence from a quasi-natural experiment. SSRN
Meyer, Julia, Luca Maria Schüpbach, and Sebastian Utz. 2020. “Capital-Market Effects of ESG Scores : Evidence from a Quasi-Natural Experiment.” SSRN. https://doi.org/10.2139/ssrn.3683100.
Meyer, Julia, et al. Capital-Market Effects of ESG Scores : Evidence from a Quasi-Natural Experiment. SSRN, 2020, https://doi.org/10.2139/ssrn.3683100.


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