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An analysis of the inter-rater reliability of ESG ratings within the consumer staples industry

  • 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.

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  • An analysis of the inter-rater reliability of ESG ratings with the consumer staples industry
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Metadaten
Author:Justin Vogel
URN:urn:nbn:de:bsz:fn1-opus4-67577
Advisor:Marc P. Radke
Document Type:Bachelor Thesis
Language:English
Year of Completion:2020
Granting Institution:Hochschule Furtwangen
Date of final exam:2020/08/27
Release Date:2020/10/28
Tag:ESG; Inter-rater reliability; Rating
Pagenumber:56
Degree Program:IBW - Internationale Betriebswirtschaft
Functional area:Finance & Accounting
Open Access:Innerhalb der Hochschule
Licence (German):License LogoEs gilt das UrhG