| dc.contributor.author | Jørgensen, Espen Njøs Jørgensen | |
| dc.contributor.author | Ellingsen, Teodor Hjelde | |
| dc.date.accessioned | 2021-10-29T07:55:10Z | |
| dc.date.available | 2021-10-29T07:55:10Z | |
| dc.date.issued | 2021 | |
| dc.identifier.uri | https://hdl.handle.net/11250/2826436 | |
| dc.description | Masteroppgave(MSc) in Master of Science in Finance/(Financial Economics) - Handelshøyskolen BI,2021 | en_US |
| dc.description.abstract | Using a sample of S&P 500 firms in the period 2010-2020. We will first study the
rating variation of Environmental, Social, and Governance (ESG) ratings among
some of the top prominent agencies. Secondly, we will study the characteristics of
variation. Thirdly, we will examine the impact of the ESG rating variation on stock
performance. We find that there is a large deviation between providers both crosssectionally
and over time. We discover that transparency can have an ambiguous
effect on disagreement. While firm-size bias generally increases disagreement.
Investors respond to the disagreement in overall and social score by undervaluing the
stock, and by overvaluation in environmental disagreement. We conclude that ESG
ratings continue to be a highly heterogeneous space, with clear challenges in
objectivity, as well as increasing influence on the stock price. | en_US |
| dc.language.iso | eng | en_US |
| dc.publisher | Handelshøyskolen BI | en_US |
| dc.subject | finans | en_US |
| dc.subject | finance | en_US |
| dc.subject | financial economics | en_US |
| dc.title | ESG Disagreement: Determining Factors and Impact on Stock Performance | en_US |
| dc.type | Master thesis | en_US |
