EU Taxonomy and Stock Performance
Master thesis
Permanent lenke
https://hdl.handle.net/11250/3038658Utgivelsesdato
2022Metadata
Vis full innførselSamlinger
- Master of Science [1620]
Sammendrag
This thesis investigates the link between environmental, social, and corporate governance (ESG) performance and stock performance in Europe between 2012-2021. We apply ESG data from Refinitiv's Eikon database and construct our own framework based on the EU Taxonomy. In combination, we use the SASB (Sustainability Accounting Standards Board) framework to see if there is any coherence between the two. Furthermore, we are sorting portfolios into top-, medium-, and bottom-performance ESG portfolios. Our research finds no abnormal returns between the top-, and bottom-ranked ESG portfolios, suggesting a neutral relationship between ESG performance and stock performance. This implies that ESG performance neither creates nor destroys value and that the EU Taxonomy does not impact our portfolio returns.
Beskrivelse
Masteroppgave(MSc) in Master of Science in Business, Finance - Handelshøyskolen BI, 2022