The Value Relevance of Financial Performance and ESG Scores During Tumultuous Economic Periods

Daniela Nicoleta Sahlian, Adriana Florina Popa, Viorel Costin Banţa, Claudia Mihaela Răpan and Silviu Cornel Virgil Chiriac

Eastern European Economics, 2024, vol. 62, issue 4, 528-546

Abstract: This paper examines the value relevance of ESG scores (environmental, social and governance) before, during, and after tumultuous economic periods (including the 2008 financial crisis and the COVID−19 pandemic) taking into consideration a company’s financial performance. The analysis, using Ohlson’s price model, is based on a sample of companies listed on European stock exchanges from 2003 to 2021. The results underline that, after each tumultuous economic period, there was a decline in the value relevance of ESG scores and an increase in investor focus on company financial performance.

Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/00128775.2023.2225500 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mes:eaeuec:v:62:y:2024:i:4:p:528-546

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/MEEE20

DOI: 10.1080/00128775.2023.2225500

Access Statistics for this article

More articles in Eastern European Economics from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().