Gonçalves, Tiago Cruz; Dias, João; Barros, Victor - In: International Journal of Financial Studies : open … 10 (2022) 3, pp. 1-32
This study examines the association between firms' environmental, social, and governance (ESG) performance and the cost of capital for the largest European firms listed on the STOXX Euro 600 in a large panel from 2002 to 2018. We find that ESG is priced by both debt and equity markets, although...
