Взаимовръзка между ESG рейтинг и цена на капитала на компанията
Relationship Between ESG Rating and the Cost of Capital of the Company

Author(s): Ralitsa Dimitrova
Subject(s): Social Sciences, Economy, Business Economy / Management, Sociology, Evaluation research, Management and complex organizations, Accounting - Business Administration
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: sustainable finance; cost of capital; ESG; capital structure
Summary/Abstract: In the focus of the new regulatory framework, public companies must strive to best manage ESG risks and opportunities, but also to be sustainable organizations that have a positive impact on society and reduce their environmental footprint. ESG ratings play an increasingly important role for investors and in promoting confidence in sustainable investments. Investors are increasingly using them as part of their sustainable investment strategies to take into account the risks and/or impacts related to ESG issues. The report examines the relationship between environmental, social and governance (ESG) ratings and the cost of capital of a company. Existing empirical research is reviewed and the conclusion is drawn that companies need to increase their ESG ratings if they want to continue to attract funds from investors in the future, especially at low cost.

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