This chapter analyses the impact of ESG scores on firms’ profitability in the automotive sector between 2002 and 2016 for a novel dataset of European and North American listed firms. Results show that the environmental component of the ESG scores is positively associated with firms’ profitability. Among the components of overall ESG, the environmental score is the only one that exhibits the most robust association. Eventually when considering firm value proxied by means of Tobin’s Q, results show a negative association between the Tobin’s Q and the environmental component of ESG. Further estimations have highlighted a more nuanced evidence in particular with regard to profitability in terms of ROA.
|Titolo della pubblicazione ospite||Climate change adaptation, governance and new issues of value. Measuring the impact of ESG scores on CoE and Firm performance|
|Numero di pagine||30|
|Stato di pubblicazione||Pubblicato - 2022|
|Nome||PALGRAVE STUDIES IN IMPACT FINANCE|
- Tyre Sector
- Firm Performance