欢迎光临散文网 会员登陆 & 注册

企业内部视角的ESG实践(WP2022)

2022-09-05 22:22 作者:小志小视界  | 我要投稿

题目:An Inside View of Corporate ESG Practices(工作论文 Working Paper)

摘要:Firms often broadcast commitments to environmental, social, and governance (ESG) practices, but do these commitments reflect their internal practices? To find out, I introduce an inside measure of ESG practices from 10 million employee reviews via a word-embedding model. The measure predicts a firm’s future misconduct, governance issues, downside risk, growth, and valuation. However, the inside measure is weakly correlated with a firm’s ESG ratings and stated policies. I trace the weak correlation to a firm’s economic incentives to  walk the ESG talks in four different settings, including two exogenous shocks to the expected benefits of walking relative to talking about ESG practices.

企业内部视角的ESG实践(WP2022)的评论 (共 条)

分享到微博请遵守国家法律