We rely on the ESG ratings assigned by four distinct agencies (MSCI, Refinitiv, Robeco, and Sustainalytics) to study the link between ESG scores and firms’ cost of debt financing during the early stage of the COVID-19 pandemic. We document the existence of a statistically and economically...

We rely on the ESG ratings assigned by four distinct agencies (MSCI, Refinitiv, Robeco, and Sustainalytics) to study the link between ESG scores and firms’ cost of debt financing during the Covid-19 pandemic. We document the existence of a statistically and economically significant ESG...

We use the entropy balancing method to study the impact of sustainability labels on mutual fund flows and returns. We compare the informativeness of a well established industry proxy of ESG risk (the Morningstar sustainability rating) with the ESG disclosure requirements introduced by the...