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Is ESG-ness the vaccine?

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  • Fabio Pizzutilo

Abstract

In an attempt to foster debate on whether firms’ commitment to ESG policies affects stocks risk-adjusted performance, we analysed the blue-chips of the European countries most affected by COVID-19. We found statistical evidence that companies that follow high ESG standards outperformed low ESG-ranked firms during Phase 1 of COVID-19. In particular, the dampening effect on the downside stock market movement was more evident during the first part of Phase 1 characterized by the sudden crash of stock prices.

Suggested Citation

  • Fabio Pizzutilo, 2023. "Is ESG-ness the vaccine?," Applied Economics Letters, Taylor & Francis Journals, vol. 30(4), pages 484-487, February.
    • Handle: RePEc:taf:apeclt:v:30:y:2023:i:4:p:484-487
    DOI: 10.1080/13504851.2021.1994124
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