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  • Thumbnail for Environmental, Social, and Governance Ratings and Its Effects on Corporate Financial Performance of Financial Companies
    Environmental, Social, and Governance Ratings and Its Effects on Corporate Financial Performance of Financial Companies by Brandstrader, Annie Zheng

    This paper examines Environmental, Social, and Governance (ESG) ratings and their correlation to the stock price of 59 US financial firms. The ESG ratings used were from CSRHub and the company stock prices were from yahoo.finance.com taken on a monthly basis for four years spanning from August 2014 to July 2018. An empirical model based on panel data was used to determine whether each rating category had a positive or negative effect on a company’s stock price. The data was conclusive in showing that the environmental, governance, and subcategory of employees had a positive impact on company stock price, and the overall social rating and the subcategory community rating had a negative impact on company stock price.