학술논문
Impact of environmental, social and governance initiatives on firm value: Analysis using AI-based ESG scores for Japanese listed firms
Document Type
Article
Author
Source
In Research in International Business and Finance June 2024 70 Part A
Subject
Language
ISSN
0275-5319
Abstract
Highlights •By constructing our unique AI-based ESG scores, we score and analyze firms that have not previously been given ESG scores.•Firms with high ESG scores have a significantly higher Tobin’s Q and higher volatility.•After an external shock, a firm with high ESG experiences a significant drop in firm value but is more resilient afterward.•Limited sample size using existing ESG scores may underestimate the impact of ESG initiatives on firm value.