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A Review Of The Effect Of Esg On "Sin" Firms, William Stearns
A Review Of The Effect Of Esg On "Sin" Firms, William Stearns
Honors Projects in Finance
In this study, we examine the impact of ESG on stock returns and portfolio returns for sin stocks. The relationship between ESG and stock prices has been a topic of interest for research in recent years with the increasing emphasis on ESG in society. The present study analyzes the ESG scores for nine specific sin stock industries: tobacco, gambling, alcohol, adult entertainment, firearm, military, nuclear power, bioengineering, and oil and gas. This study is conducted through the use of statistical analysis with data collected from COMPUSTAT, CRSP, and MSCI. Our results reveal that ESG is negatively correlated with sin firm …