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Is disagreement beneficial for market efficiency? Evidence from ESG ratings
16 references·0 citing·33 second hopsampled
Is disagreement beneficial for market efficiency? Evidence from ESG ratings (2025)Is disagreement beneficial for market eff…Why is Corporate Virtue in the Eye of The Beholder? The Case of ESG Ratings (2021)Why is Corporate Virtue in th…Sustainable investing in equilibrium (2020)Sustainable investing in equi…Investment and Asset Pricing with ESG Disagreement (2020)Investment and Asset Pricing …Responsible Investing: The ESG-Efficient Frontier (2019)Responsible Investing: The ES…Aggregate Confusion: The Divergence of ESG Ratings (2019)Aggregate Confusion: The Dive…Corporate Green Bonds (2018)Corporate Green BondsWhy and How Investors Use ESG Information: Evidence from a Global Survey (2017)Why and How Investors Use ESG…Do Investors Value Sustainability? A Natural Experiment Examining Ranking and Fund Flows (2017)Do Investors Value Sustainabi…On the Foundations of Corporate Social Responsibility (2016)On the Foundations of Corpora…Do ratings of firms converge? Implications for managers, investors and strategy researchers (2015)Do ratings of firms converge?…Retail Investor Sentiment and Return Comovements (2006)Retail Investor Sentiment and…Investor Sentiment and the Cross‐Section of Stock Returns (2006)Investor Sentiment and the Cr…Investor sentiment and the near-term stock market (2003)Investor sentiment and the ne…Illiquidity and stock returns: cross-section and time-series effects (2002)Illiquidity and stock returns…Differences of Opinion and the Cross Section of Stock Returns (2002)Differences of Opinion and th…RISK, UNCERTAINTY, AND DIVERGENCE OF OPINION (1977)RISK, UNCERTAINTY, AND DIVERG…CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)Risk, Return, and Equilibrium: Empirical Tests (1973)The Pricing of Options and Corporate Liabilities (1973)Trading Is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors (2000)The Cross‐Section of Volatility and Expected Returns (2006)All That Glitters: The Effect of Attention and News on the Buying Behavior of Individual and Institutional Investors (2007)The Cross-Section of Expected Stock Returns (1992)Common risk factors in the returns on stocks and bonds (1993)On Persistence in Mutual Fund Performance (1997)Measuring Uncertainty (2015)A Simple Model of Capital Market Equilibrium with Incomplete Information (1987)The theory and practice of corporate finance: evidence from the field (2001)The economic implications of corporate financial reporting (2005)Do Institutional Investors Drive Corporate Social Responsibility? International Evidence (2015)The Importance of Climate Risks for Institutional Investors (2019)Corporate Governance and Equity Prices (2003)Liquidity Risk and Expected Stock Returns (2003)Adoption of CSR and Sustainability Reporting Standards: Economic Analysis and Review (2019)Firm‐Level Climate Change Exposure (2023)A five-factor asset pricing model (2014)Firms and social responsibility: A review of ESG and CSR research in corporate finance (2021)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)Corporate financing and investment decisions when firms have information that investors do not have (1984)Climate Risk Disclosure and Institutional Investors (2023)Epistemic Cultures (1999)ESG Rating Disagreement and Stock Returns (2021)Intraclass correlations: Uses in assessing rater reliability. (1979)No Contagion, Only Interdependence: Measuring Stock Market Comovements (2002)Content Analysis: An Introduction to Its Methodology (2019)Editor's Choice Digesting Anomalies: An Investment ApproachAsset pricing with liquidity risk (2005)Giving Content to Investor Sentiment: The Role of Media in the Stock Market (2007)Integración de los mercados financieros Latinoamericanos por medio de MILA (2020)
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References

  • 2002Illiquidity and stock returns: cross-section and time-series effects10,008 cited
  • 2006Investor Sentiment and the Cross‐Section of Stock Returns6,234 cited
  • 2019Aggregate Confusion: The Divergence of ESG Ratings4,251 cited
  • 1977RISK, UNCERTAINTY, AND DIVERGENCE OF OPINION3,714 cited
  • 2018Corporate Green Bonds2,907 cited
  • 2020Sustainable investing in equilibrium2,262 cited
  • 2002Differences of Opinion and the Cross Section of Stock Returns2,145 cited
  • 2019Responsible Investing: The ESG-Efficient Frontier2,140 cited
  • 2017Why and How Investors Use ESG Information: Evidence from a Global Survey1,758 cited
  • 2021Why is Corporate Virtue in the Eye of The Beholder? The Case of ESG Ratings1,659 cited
  • 2017Do Investors Value Sustainability? A Natural Experiment Examining Ranking and Fund Flows1,613 cited
  • 2006Retail Investor Sentiment and Return Comovements1,490 cited
  • 2016On the Foundations of Corporate Social Responsibility1,429 cited
  • 2020Investment and Asset Pricing with ESG Disagreement1,408 cited
  • 2003Investor sentiment and the near-term stock market1,355 cited

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Do ratings of firms converge? Implications for managers, investors and strategy researchers
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