TY  - THES
U1  - Bachelor Thesis
A1  - Vogel, Justin
T1  - An analysis of the inter-rater reliability of ESG ratings within the consumer staples industry
N2  - The aim of this study is to gain further insights into whether ESG ratings of the same firms from different rating agencies differ. To this end, this study examines and compares in particular the ratings of the providers Bloomberg, Sustainalytics and MSCI for companies in the consumer staples industry. The study comes to the conclusion that there are in some cases significant differences between these three providers in terms of the respective ESG ratings. Furthermore, a company-size bias is shown for Bloomberg and Sustainalytics ESG ratings. It appears that these agencies rate companies with a large market capitalization better than firms with a lower market value. These large discrepancies in ESG ratings of companies within the consumer staples industry and individual rating problems, such as the company-size bias, mean that today's ESG ratings tend to be not reliable and not valid. The study shows that ESG ratings will have to change a lot in the near future in order to contribute positively to the investment selection of socially responsible investors.
KW  - ESG
KW  - Rating
KW  - Inter-rater reliability
Y2  - 2020
U6  - https://nbn-resolving.org/urn:nbn:de:bsz:fn1-opus4-67577
UN  - https://nbn-resolving.org/urn:nbn:de:bsz:fn1-opus4-67577
SP  - 56
S1  - 56
ER  -