| dc.rights.license | CC-BY-NC-ND | |
| dc.contributor.advisor | Konda, Bruhan | |
| dc.contributor.author | Sweetman Burke, Jordan | |
| dc.date.accessioned | 2024-08-30T23:03:07Z | |
| dc.date.available | 2024-08-30T23:03:07Z | |
| dc.date.issued | 2024 | |
| dc.identifier.uri | https://studenttheses.uu.nl/handle/20.500.12932/47533 | |
| dc.description.abstract | This study analyses the relationship between ESG (Environmental, Social and Governance)
scores and firm profitability and value. By decomposing the sample at the sector level, the paper hopes to answer the following question: To what extent does the relationship between ESG and firm performance differ across sectors? The paper carries out fixed-effects analysis on a panel dataset of 4500 firm-year observations in Europe from the year 2011-2022 in order to answer this question. Two additional explanatory mechanism are also provided to explain this difference: The degree of privatization and innovation within a sector. Significant associations are found between ESG and firm profitability for the Social pillar, and ESG and firm value for multiple pillars. Distinct heterogeneity is seen in this relationship for firms in the Consumer Goods sector. | |
| dc.description.sponsorship | Utrecht University | |
| dc.language.iso | EN | |
| dc.subject | This thesis investigates the relationship between ESG total and pillar scores and firm financial performance, as measured through firm profitability and firm value. A sample of 4500 firm-year observations from the years 2011-2022 are used to investigate this relationship, at both the overall and individual sector level. Further explanations for this relationship, namely the degree of privatisation and degree of innovation within a firm, are also provided. | |
| dc.title | The Heterogenous Impact of ESG Ratings on Firm Performance across different EU Sectors | |
| dc.type.content | Master Thesis | |
| dc.rights.accessrights | Open Access | |
| dc.subject.keywords | Firm Performance, ESG Scores, Sustainability, Return on Assets, Firm Value, Privatisation, R&D Intensity, Fixed Effects Panel Data | |
| dc.subject.courseuu | Strategy, Competition and Regulation | |
| dc.thesis.id | 37890 | |
