Billio, Monica; Costola, Michele; Hristova, Iva; … - 2020
We analyze the ESG rating criteria used by prominent agencies and show that there is a lack of a commonality in the … that heterogeneity in rating criteria can lead agencies to have opposite opinions on the same evaluated companies and that … the rating agencies disperses the e↵ect of preferences of ESG investors on asset prices, to the point that even when there …