IDEAS home Printed from https://ideas.repec.org/p/hal/wpaper/hal-04654818.html
   My bibliography  Save this paper

Subcategories of ESG controversies and firm value

Author

Listed:
  • Cédric Faure

    (UNILIM - Université de Limoges, LAPE - Laboratoire d'Analyse et de Prospective Economiques - GIO - Gouvernance des Institutions et des Organisations - UNILIM - Université de Limoges)

  • Emmanuelle Nys

    (UNILIM - Université de Limoges, LAPE - Laboratoire d'Analyse et de Prospective Economiques - GIO - Gouvernance des Institutions et des Organisations - UNILIM - Université de Limoges)

  • Amine Tarazi

    (UNILIM - Université de Limoges, LAPE - Laboratoire d'Analyse et de Prospective Economiques - GIO - Gouvernance des Institutions et des Organisations - UNILIM - Université de Limoges, IUF - Institut universitaire de France - M.E.N.E.S.R. - Ministère de l'Education nationale, de l’Enseignement supérieur et de la Recherche)

Abstract

To clarify the literature's conflicting findings on the impact of Environmental, Social, and Governance (ESG) controversies on firm value, this paper examines subcategory impacts within ESG pillars. We take advantage of a novel dataset to build cross-industry comparable quarterly subcategory scores. Aggregating them at different levels, our analysis of U.S. firms reveals significant impacts of controversies at both overall and sub-pillar levels, that are not systematically reduced by a higher initial ESG commitment. Conflicting subcategory effects within the same pillar explain the lack of significant pillar-level impact. This highlights the need to differentiate sub-pillar component effects to avoid premature conclusions.

Suggested Citation

  • Cédric Faure & Emmanuelle Nys & Amine Tarazi, 2024. "Subcategories of ESG controversies and firm value," Working Papers hal-04654818, HAL.
  • Handle: RePEc:hal:wpaper:hal-04654818
    Note: View the original document on HAL open archive server: https://hal.science/hal-04654818v1
    as

    Download full text from publisher

    File URL: https://hal.science/hal-04654818v1/document
    Download Restriction: no
    ---><---

    Other versions of this item:

    More about this item

    Keywords

    Environmental Social and Governance activities; ESG controversies; Firm value;
    All these keywords.

    JEL classification:

    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:wpaper:hal-04654818. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.