The wages of social responsibility — where are they? A critical review of ESG investing

By G. Halbritter, Gregor Dorfleitner. 2015

456 citations recorded by the source corpus.

Subfields: Accounting, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/6a7f27786907ae28539c06e0fecd1d4d00c8401b

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Citations in the corpus

Divergent ESG Ratings (2020, background): “Halbritter and Dorfleitner (2015), using three rating providers and a sample period from 1990 to 2012, found that for all three raters the outperformance of a highly-rated over a lowly rated portfolio was large and positive from 1990 to 2001, about half the size from 2002 to 2006, and completely…”
When ESG meets AAA: The effect of ESG rating changes on stock returns (2021, unknown): “…research finds material outperformance for portfolios and funds formed of high-ESG stocks (Khan, 2019; Alda, 2020; Consolandi et al.,2020), while others argue there is no statistically significant difference in their risk-adjusted returns (Halbritter and Dorfleitner, 2015; Naffa and Fain, 2021).”
Inside the ESG Ratings: (Dis)Agreement and Performance (2020, unknown): “…the meta-analysis performed by Friede et al. (2015), combining the findings of over 2200 individual studies, highlights that about 90% of them show a non-negative relationship between ESG and corporate financial performance (CFP) with a clear positive relationship on the large majority.”
The risk-adjusted return potential of integrating ESG strategies into emerging market equities (2018, background): “…investment integration within a diversified portfolio has been an important topic of discussion and study amongst institutional investors for the past 30 years (Blank, Sgambati, and Truelson 2016; van Duuren, Plantinga, and Scholtens 2016; Halbritter and Dorfleitner 2015; Meziani 2014).”
Exploring environmental, social, and governance disclosure effects on the S&P 500 financial performance (2019, background): “Halbritter and Dorfleitner (2015) considered the relationship between ESG and firm performance from a portfolio perspective.”
‘Responsible investment’: ESG and the post-crisis ethical order (2020, background): “Today, ESG is an integral part of most investment strategies that claim to foster ‘responsible investment’ (cf. Arjaliès, 2010; Halbritter & Dorfleitner, 2015).”
ESG controversies and controversial ESG: about silent saints and small sinners (2020, methodology): “Apart from some isolated outliers, the results lead us to the assumption that the value-weighted strategy does not result in any excess return for investors, which is consistent with the findings of Halbritter and Dorfleitner (2015). It should also be pointed out that the adjusted R(2) values of all”
Measuring the level and risk of corporate responsibility – An empirical comparison of different ESG rating approaches (2015, background): “Halbritter and Dorfleitner (2015) already examine this point and investigate whether the relationship between the financial and social performance is dependent on the underlying rating concept.”