03291ntm a22005297i 4500 000715093 CZ-PrVSE 20240615111821.0 m d cr n|||||||||| 240615s2024 xr fsbm 000 0 eng d NEZPRACOVANÝ IMPORT ABA006 cze ABA006 ABA006 rda Magalhães Castro, Rita Nicole ISIS:175938 dis Impact of ESG Scores on Stock Returns : evidence from the European stock market eng Impact of ESG Scores on Stock Returns : evidence from the European stock market Rita Nicole Magalhães Castro 2024 ?? stran : digital, PDF soubor Vedoucí práce: Michal Vyletelka Diplomová práce (Ing.)—Vysoká škola ekonomická v Praze. Fakulta financí a účetnictví, 2024 Obsahuje bibliografii Textový (vysokoškolská kvalifikační práce) Rok obhajoby 2024 In the past several years, literature has been comprehensively studying the integration of climate change and other sustainability concerns into investment decisions and portfolio allocation, however, the complete impact of these concerns on investment performance is still not fully known. In this sense, the present study analyses the impact of ESG scores and, specifically, ESG scores divergence, at an individual level (environmental, social and governance), on stock returns of the European stock market. For this purpose, 737 European listed companies are considered for the period between January 2015 and March 2022. The results show no significant relationship between Environmental divergence scores and stock returns, contrary to expectations. Additionally, Social and Governance divergence scores exhibit unexpected negative relationships. Furthermore, investing in portfolios with stocks with lower Environmental or Social divergence tends to outperform standard indices, while Governance-focused portfolios generally outperform indices. The addition of more Environmental, Social and Governance scores given by different rating providers might enhance the understanding of this relationship. Způsob přístupu: Internet finance and accounting [obor dipl. práce] diplomové práce fd132022 czenas master's theses eczenas Stock returns Sustainable finance Asset pricing European stock market ESG investing ESG scores Vyletelka, Michal ISIS:151721 ths Stádník, Bohumil pna2012685552 opn Vysoká škola ekonomická v Praze. Fakulta financí a účetnictví kn20010709398 dgg https://insis.vse.cz/zp/86705/podrobnosti VŠKP v InSIS https://insis.vse.cz/zp/86705 Hlavní práce https://insis.vse.cz/zp/86705/posudek/vedouci Hodnocení vedoucího https://insis.vse.cz/zp/86705/posudek/oponent/83653 Oponentura https://insis.vse.cz/zp/86705/podrobnosti dc:identifier NEPOSILAT VSKP vse86705 240613 86705