03237ntm a22005177i 4500 000726664 CZ-PrVSE 20250920220214.0 m d cr n|||||||||| 250920s2025 xr fsbm 000 0 eng d NEZPRACOVANÝ IMPORT ABA006 cze ABA006 ABA006 rda Ginepro, Benoît ISIS:180519 dis The Impact of ESG Scores on Stock Returns : An Empirical Analysis of French Listed Companies eng The Impact of ESG Scores on Stock Returns : An Empirical Analysis of French Listed Companies Benoît Ginepro 2025 ?? stran : digital, PDF soubor Vedoucí práce: Carlos Alves Diplomová práce (Ing.)—Vysoká škola ekonomická v Praze. Fakulta financí a účetnictví, 2025 Obsahuje bibliografii Textový (vysokoškolská kvalifikační práce) Rok obhajoby 2025 This thesis investigates the relationship between Environmental, Social, and Governance (ESG) scores and stock returns among companies listed on the French stock market. Using data from Refinitiv Eikon and employing the Fama-French and Carhart multifactor models, the study analyses whether ESG performance, both in aggregate and by individual pillar (E, S, G), has a statistically significant impact on risk-adjusted returns over the 2017-2023 period. A High-Low portfolio strategy is used to compare the performance of firms with high versus low ESG ratings. The results reveal a negative relationship between overall ESG scores and stock returns, with companies exhibiting lower ESG ratings tending to outperform higher-rated peers, particularly in value-weighted portfolios. This suggests that companies with low ESG scores perform better than those with high ESG scores. When we examine the individual ESG components, the effects become more complex. Environmental and social scores have a neutral or statistically insignificant relationship with returns. In contrast, governance scores are strongly associated with overall ESG ratings. They also show negative abnormal returns and significant variability. Způsob přístupu: Internet finance and accounting [obor dipl. práce] diplomové práce fd132022 czenas master's theses eczenas ESG Fama-French model Carhart model Stock Return Stock Performance Alves, Carlos ISIS:197073 ths Janda, Karel xx0053102 opn Vysoká škola ekonomická v Praze. Fakulta financí a účetnictví kn20010709398 dgg https://insis.vse.cz/zp/93213/podrobnosti VŠKP v InSIS https://insis.vse.cz/zp/93213 Hlavní práce https://insis.vse.cz/zp/93213/posudek/vedouci Hodnocení vedoucího https://insis.vse.cz/zp/93213/posudek/oponent/88665 Oponentura https://insis.vse.cz/zp/93213/podrobnosti dc:identifier NEPOSILAT VSKP vse93213 250912 93213