The Effects of Environment, Society and Governance Scores on Investment Returns and Stock Market Volatility

Bharat Kumar Meher, Iqbal Thonse Hawaldar, Latasha Mohapatra, Cristi Spulbar () and Ramona Birau
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Bharat Kumar Meher: Department of Commerce, Manipal Academy of Higher Education, Manipal, Karnataka, India,
Iqbal Thonse Hawaldar: Department of Accounting and Finance, College of Business Administration, Kingdom University, Bahrain,
Latasha Mohapatra: Department of Commerce, Manipal Academy of Higher, Manipal, Karnataka, India,
Ramona Birau: Faculty of Social Sciences, University of Craiova, Craiova, Romania.

International Journal of Energy Economics and Policy, 2020, vol. 10, issue 4, 234-239

Abstract: Sustainability reporting and disclosure in India have received a significant attention over the most recent few years propelled to a large extent by investors and policy makers. The Sustainable Business Leadership Forum (SBLF) has been closely working with many firms, owners of the companies and policy makers to single out the relationship between investment and environmental, social and governance (ESG) disclosure. Besides that, SBLF has had a coordinated conversation about the anticipations, concerns, difficulties and realities surrounding ESG estimation. This ESG criteria refers to three important elements which are considered by investors with regards to an ethical impact of firms and sustainable practices. As per the literature companies with higher ESG scores are better investment picks. This paper attempts to assess the volatility and returns of Indian companies and to measure the impact of ESG scores on returns and volatility with the help of panel regression.

Keywords: ESG; ESG Scores; Sustainability; Panel Regression; Investment returns. (search for similar items in EconPapers)
JEL-codes: D22 G11 G14 G32 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (7)

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