Wpływ miar ESG na rynek finansowy
Impact of ESG metrics on the financial market

Author(s): Patrycja Chodnicka-Jaworska
Subject(s): Economy, Business Economy / Management, Financial Markets
Published by: Wydawnictwa Uniwersytetu Warszawskiego
Keywords: sustainable finance; ESG; ESG measures; greenium; greenwashing; credit rating; ESG rating; ESG scoring; financial market; bond market; equity market; investment fund market
Summary/Abstract: The monograph presents an examination of the impact of ESG on the functioning of the financial market, by analysing the impact of ESG metrics on changes in credit ratings, on the premium in the broader green bond market, on the capitalisation and share price returns of companies and the profitability of green investment funds, taking into account, i.a., regulatory changes in the European Union, the business cycle, the level of economic development or the type of industry. It also points out key differences between individual financial markets, industries and even subsectors in the area of the impact of ESG factors. The publication is addressed to a wide audience, ranging from researchers through market practitioners or regulators to investors who can use it for portfolio construction analysis.

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