| dc.description.abstract | The increasing focus on environmental, social, and governance (ESG) matters
has led to the emergence of numerous ESG rating agencies that evaluate and
rank companies based on their ESG performance. As a result, we now have
a wide range of ESG ratings available. This study aims to examine two main
aspects. Firstly, it investigates the presence of ESG rating disagreement among
Nordic listed firms from 2012 to 2021, considering the ESG ratings provided
by Bloomberg, Refinitiv, and S&P Global. Secondly, it explores the potential
relationship between ESG rating disagreement and firm performance. We
use two different financial measures to measure firm performance, return on
assets (ROA) and stock returns. Panel regression with fixed effects is employed
to conduct the analysis. Our findings indicate that there is no statistically
significant relationship between ESG rating disagreement, stock returns, and
ROA in the Nordic market. We discuss the practical implications of these
results. | en_US |
