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ESG Confusion and Stock Returns: Tackling the Problem of Noise

Citations

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Cited by:

  1. Koji Takahashi & Sumiko Takaoka, 2023. "How much do firms need to satisfy employees? - Evidence from credit spreads and online employee reviews," BIS Working Papers 1111, Bank for International Settlements.
  2. Konrad Adler & Oliver Rehbein & Matthias Reiner & Jing Zeng, 2026. "Market-Based Green Firms," ECONtribute Discussion Papers Series 421, University of Bonn and University of Cologne, Germany.
  3. Hou, Xiaojuan & Xie, Guanxia, 2024. "ESG divergence and corporate strategic green patenting," Finance Research Letters, Elsevier, vol. 67(PB).
  4. Xuming Shangguan & Gengyan Shi & Zhou Yu, 2024. "ESG Performance and Enterprise Value in China: A Novel Approach via a Regulated Intermediary Model," Sustainability, MDPI, vol. 16(8), pages 1-18, April.
  5. Jin, Yurong & Yan, Jingzhou & Yan, Qianhui, 2024. "Unraveling ESG Ambiguity, Price Reaction, and Trading Volume," Finance Research Letters, Elsevier, vol. 61(C).
  6. Roman Kräussl & Tobi Oladiran & Denitsa Stefanova, 2024. "A review on ESG investing: Investors’ expectations, beliefs and perceptions," Journal of Economic Surveys, Wiley Blackwell, vol. 38(2), pages 476-502, April.
  7. Konrad Adler & Oliver Rehbein & Matthias Reiner & Jing Zeng, 2026. "Market-Based Green Firms," CRC TR 224 Discussion Paper Series crctr224_2025_768, University of Bonn and University of Mannheim, Germany.
  8. Rojo-Suárez, Javier & Alonso-Conde, Ana B. & Gonzalez-Ruiz, Juan David, 2024. "Does sustainability improve financial performance? An analysis of Latin American oil and gas firms," Resources Policy, Elsevier, vol. 88(C).
  9. Wang, Xinyu & Zhao, Jing, 2023. "The green reputation: Corporate culture and environmental reputation risk," Finance Research Letters, Elsevier, vol. 58(PA).
  10. Luo, Deqing & Shan, Xun & Yan, Jingzhou & Yan, Qianhui, 2023. "Sustainable investment under ESG volatility and ambiguity," Economic Modelling, Elsevier, vol. 128(C).
  11. Gucciardi, Gianluca & Ossola, Elisa & Parisio, Lucia & Pelagatti, Matteo, 2025. "Common factors behind companies’ Environmental ratings," International Review of Financial Analysis, Elsevier, vol. 100(C).
  12. Long, Huaigang & Chiah, Mardy & Cakici, Nusret & Zaremba, Adam & Bilgin, Mehmet Huseyin, 2024. "ESG investing in good and bad times: An international study," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 91(C).
  13. Birindelli, Giuliana & Quas, Anita & Rancan, Michela & Vandone, Daniela, 2025. "How important are ESG ratings for financial institutions? Evidence from corporate leverage ratios across Europe," International Review of Economics & Finance, Elsevier, vol. 102(C).
  14. Jin, Yurong & Yan, Jingzhou, 2024. "Sustainable investing with ESG ambiguous information," Economics Letters, Elsevier, vol. 241(C).
  15. Gaëlle Le Fol, 2024. "Understanding the effect of ESG scores on stock returns using mediation theory," Post-Print hal-04660291, HAL.
  16. Yinong Liu & Yanying Li & Huiying Chen, 2025. "The Keywords in Corporate Social Responsibility: A Dictionary Construction Method Based on MNIR," Sustainability, MDPI, vol. 17(6), pages 1-23, March.
  17. Ricci, Ornella & Santilli, Gianluca & Scardozzi, Giulia & Stentella Lopes, Francesco Saverio, 2024. "ESG resilience in conflictual times," Research in International Business and Finance, Elsevier, vol. 71(C).
  18. Li, Hao & Guo, Hui & Hao, Xinyao & Zhang, Xuan, 2023. "The ESG rating, spillover of ESG ratings, and stock return: Evidence from Chinese listed firms," Pacific-Basin Finance Journal, Elsevier, vol. 80(C).
  19. Yan, Jingzhou & Shen, Jiahao & Zou, Jin & Zou, Yanchi, 2025. "ESG ratings and attention: The impact on stock market performance," Finance Research Letters, Elsevier, vol. 83(C).
  20. Xiaoquan (Michael) Zhang & DaPeng Xu & Hong Hong & Kalok Chan, 2026. "Attention or Sentiment: How Social Media React to ESG?," Information Systems Research, INFORMS, vol. 37(2), pages 1323-1336, June.
  21. Çiğdem Yerli, 2025. "Evaluating the Impact of ESG and Decarbonization Metrics on Stock Price Prediction," Journal of Research in Economics, Politics & Finance, Ersan ERSOY, vol. 10(SI), pages 252-274.
  22. He, Feng & Duan, Lin & Lucey, Brian & Hao, Jing, 2025. "Biodiversity risk or climate risk? Which factor affects corporate ESG rating divergence," International Review of Financial Analysis, Elsevier, vol. 104(PA).
  23. Liu, Dianhao & Zhou, Jun, 2025. "Do ESG rating changes matter? Evidence from Chinese stock market," Global Finance Journal, Elsevier, vol. 67(C).
  24. Lu, Xiaomeng & Zhang, Xianjun & Guo, Fusen & Li, Feng, 2024. "Evaluating ESG Investment Profitability: From the Perspective of Sophistication in Investment Decision-Making," Finance Research Letters, Elsevier, vol. 69(PA).
  25. Xin Li & Yan Ke & Longbing Cao, 2026. "Beyond ESG Scores: Learning Dynamic Constraints for Sequential Portfolio Optimization," Papers 2605.09310, arXiv.org.
  26. Yikai Zhao & Jun Nagayasu & Xinyi Geng, 2024. "Measuring Climate Policy Uncertainty with LLMs: New Insights into Corporate Bond Credit Spreads," DSSR Discussion Papers 143, Graduate School of Economics and Management, Tohoku University.
  27. Michele Costa, 2023. "The evaluation of the effects of ESG scores on financial markets," Working Papers wp1189, Dipartimento Scienze Economiche, Universita' di Bologna.
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