… (ESG) scores and bond returns using the corporate bond data in Korea during the period of
2010 to 2015. We find that ESG scores … three ESG criteria, only environmental scores show a …

… based on industry-adjusted ESG scores, with each tercile containing … market-value-weighted
corporate bonds. We chose to use industry-adjusted ESG scores over absolute ESG scores …

… to show a correlation between ESG performance and abnormal stock market returns1 (or
volatility2… 27 Critically, as both data sources draw from news reports, we lag ESG scores by one …

… To assess the materiality of ESG in credit ratings, this study examines the reactions on
capital markets, both for stock returns and CDS spread changes. To determine realized spreads …

… the ESG score and each respective pillar score negatively affect the probability of corporate
… from our baseline and market model, which indicates the aggregate ESG score as well as …

… credit ratings cannot explain the ESG effect in predicting future bond returns. Credit rating
agencies should use ESG scores … major financial market participants use such credit ratings as …

… ESG scores, which measure companies’ ESG performance grouped into three main pillars:
… We set the company size including the market capitalization, total revenue, and EBITDA, …

… , social and governance (ESG) performance in sovereign CDS markets. Based on … ESG
performance show (i) lower credit default swap (CDS) spreads and (ii) flatter CDS implied credit …

… The increased attention to sustainability issues yielded the proliferation of rating agencies
and ESG scores, with multiple ESG scores on the market that are often divergent and provide …

… This thesis investigates the impact of ESG scores on default risk … financial indicators and
ESG scores, models for credit risk and … ative effect of ESG reputational risk on market value in a …