Publicação
Esg pricing in the Australian equity market: an empirical analysis
| Resumo: | This study investigates how an organisation’s environmental, social and governance (ESG)rating is priced in to the Australian equity market and the implications this has on the firm valuation. The study utilises a blended ESG rating, and also analysis the impact of each respective ESG pillar, so as to provide insight on the individual effect of each pillar on organisation value. The study is conducted over the top 200 firms listed on the ASX200 and utilises commonly applied relative valuation multiples such as enterprise value / earnings-before-interest-tax-and-depreciation (EVEBITDA), price-to-earnings next twelve months (PENTM)and price-to-book (PB),as a basis for value. |
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| Autores principais: | Shephard, Caleb Samuel |
| Assunto: | Finance Esg ratings Relative valuation metrics Blended Esg rating Esg pillars |
| Ano: | 2022 |
| País: | Portugal |
| Tipo de documento: | dissertação de mestrado |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | Universidade Nova de Lisboa |
| Idioma: | inglês |
| Origem: | Repositório Institucional da UNL |
| Resumo: | This study investigates how an organisation’s environmental, social and governance (ESG)rating is priced in to the Australian equity market and the implications this has on the firm valuation. The study utilises a blended ESG rating, and also analysis the impact of each respective ESG pillar, so as to provide insight on the individual effect of each pillar on organisation value. The study is conducted over the top 200 firms listed on the ASX200 and utilises commonly applied relative valuation multiples such as enterprise value / earnings-before-interest-tax-and-depreciation (EVEBITDA), price-to-earnings next twelve months (PENTM)and price-to-book (PB),as a basis for value. |
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