When ESG meets AAA: the effect of ESG rating changes on stock returns.
(2021)
Journal Article
SHANAEV, S. and GHIMIRE, B. 2022. When ESG meets AAA: the effect of ESG rating changes on stock returns. Finance research letters [online], 46(A), article number 102302. Available from: https://doi.org/10.1016/j.frl.2021.102302
This study is the first to employ calendar-time portfolio methodology to investigate the impact of 748 ESG rating changes on stock returns of US firms over 2016–2021. While ESG rating upgrades lead to positive yet inconsistently significant abnormal... Read More about When ESG meets AAA: the effect of ESG rating changes on stock returns..