Climate Change Adaptation, Governance and New Issues of Value: Measuring the Impact of ESG Scores on CoE and Firm Performance

ISBN-13: 9783030901172 / Angielski / Miękka / 2023 / 288 str.

Carlo Bellavite Pellegrini; Laura Pellegrini; Massimo Catizone

Opis

This book investigates sustainability, CSR, climate change adaptation, the relevance of ESG scores and their impact on firm value and growth. The first part of the book analyses the topics from a conceptual angle. The authors discuss how the concepts of self-consciousness and awareness drive the shift of the traditional concept of corporate mission towards more sustainable business models. The authors propose an in-depth analysis of the main challenges posed by climate change and of the initial policy-makers’ responses and provide their view on the central role of ESG scores and circular economy for growth and development. The authors conclude with an analysis of the main literature on the measurement of the relation between ESG scores and firms’ performance and cost of equity (CoE). The second part of the book contains comparative empirical evidence, supporting these theories across specific industries, and will be of interest to academics, researchers, and students of sustainability and impact finance.

Spis treści

Introduction

Part I

Chapter 1. Self-consciousness and Awareness as the Main Enablers of Adaptation

Chapter 2. The Challenge of Climate Change and Initial Policy Response

Chapter 3. ESG and Value for Investors

Chapter 4. Emerging Market Perspectives

Chapter 5. Empirical Evidence from Literature: ESG, Cost of Equity and Firm Performance

Part II.

Chapter 6. ESG, Cost of Equity and Profitability in the Oil and Gas Sector

Chapter 7. Sustainability as the New 'Value' for Shareholders in the Automotive and Tyre Industry

Chapter 8. ESG Ratings and Firm Performance: Evidence from the Food and Drink Industry

Chapter 9. ESG Ratings and the Finance Sector: An Empirical Approach

Chapter 10. Empirical Evidence from Emerging Markets

Chapter 11. Conclusion: The Road Ahead

O autorze

Carlo Bellavite Pellegrini is Full Professor of Banking and Finance, Catholic University of the Sacred Heart, Milan in the Department of Economic Policy. His main research interests include banking and finance, corporate governance, ESG and sustainability, law and finance, law and economics, microfinance issues, corporate finance, and corporate histories of banks and industrial corporations.

Laura Pellegrini is Associate Professor of Banking and Finance, Research Fellow, Lecturer B at the University of Bari, Aldo Moro, Italy. Her main research interests include banking and finance, corporate governance, corporate finance, systemic risk and sustainability, law and finance, law and economics, political connections and corruption, and stability and efficiency issues in financial intermediaries. 

Massimo Catizone is a Member of the Scientific Committee of the Research Centre of Applied Economics at the Catholic University of the Sacred Heart, Milan, Italy. He is also an investment banker with a leading pan-European investment bank. 

Blurb

This book investigates sustainability, CSR, climate change adaptation, the relevance of ESG scores and their impact on firm value and growth. The first part of the book analyses the topics from a conceptual angle. The authors discuss how the concepts of self-consciousness and awareness drive the shift of the traditional concept of corporate mission towards more sustainable business models. The authors propose an in-depth analysis of the main challenges posed by climate change and of the initial policy-makers’ responses and provide their view on the central role of ESG scores and circular economy for growth and development. The authors conclude with an analysis of the main literature on the measurement of the relation between ESG scores and firms’ performance and cost of equity (CoE). The second part of the book contains comparative empirical evidence, supporting these theories across specific industries, and will be of interest to academics, researchers, and students of sustainability and impact finance.

Carlo Bellavite Pellegrini is Full Professor of Banking and Finance, Catholic University of the Sacred Heart, Milan in the Department of Economic Policy. His main research interests include banking and finance, corporate governance, ESG and sustainability, law and finance, law and economics, microfinance issues, corporate finance, and corporate histories of banks and industrial corporations.

Laura Pellegrini is Associate Professor of Banking and Finance, Research Fellow, Lecturer B at the University of Bari, Aldo Moro, Italy. Her main research interests include banking and finance, corporate governance, corporate finance, systemic risk and sustainability, law and finance, law and economics, political connections and corruption, and stability and efficiency issues in financial intermediaries. 

Massimo Catizone is a Member of the Scientific Committee of the Research Centre of Applied Economics at the Catholic University of the Sacred Heart, Milan, Italy. He is also an investment banker with a leading pan-European investment bank.