We investigate the capital-market effects of the release of environmental, social, and governance (ESG) scores on the Bloomberg Professional Terminal. To estimate causal effects for a group of treated companies (i.e., stocks with newly available ESG scores), we exploit the unanticipated...

The UN Principles for Responsible Investment (UN PRI) is a prominent global initiative by institutional investors to support the development of a sustainable financial system. Neither the participation in this initiative nor the implementation of the principles by its signatories are compulsory....

This research presents a decision support methodology for the multi-criteria supplier selection and order allocation problem. The proposed approach supports purchasing managers in assembling mid-term supplier portfolios while making them aware of the trade-offs between the supplier...

This paper studies the reliability of environmental, social, and governance (ESG) assessments in the case of corporate scandals. Reliable disclosures on ESG assessments may reduce information asymmetries when it comes to due diligence, for instance. We use the press release of corporate...

We study the relationship of corporate social responsibility (CSR) and the distribution of stock returns for an international sample. Firms with a high level of CSR generally exhibit superior stock price synchronicity in the markets of Europe, Japan, and the United States. In particular, we...

We investigate the relationship between corporate social performance and litigation risk by examining US class action lawsuits. We find that a one standard deviation improvement in environmental, social, and governance (ESG) controversies of an average sample firm reduces litigation risk from...