GX & Decarbonization Research

Qianxing Chen

This paper traces the evolution of AI models for ESG assessment, from topic models to domain-adaptive Transformers and retrieval-augmented language models. It focuses on multi-label phrase annotation from news, earnings calls, and reports, …

Shukai Zhan

This study examines the impact of ESG-related disclosure events on the stock valuation of BYD, a leading Chinese NEV company, using an event study approach in R. It identifies events from CNINFO announcements and third-party ESG rating upda…

Wei Cai, Yanqi Sun, Cheng Xu +2

Using panel data from 4,065 Chinese A-share firms (2009-2021), this study finds that ESG rating disagreement significantly increases stock liquidity. Analyst attention and research reports mediate this effect, and the relationship is strong…

Delane D. Naidu

This study examines the effect of ESG disclosure on credit risk for South African firms. Using data from 2017-2023, it finds that higher disclosure lowers probability of default and improves credit model scores, but does not affect cost of …

Qirun Chen

This paper examines the impact of ESG ratings on IPO pricing efficiency in the US market. It finds that ESG disclosure can reduce underpricing by alleviating information asymmetry and boosting investor confidence, but greenwashing and ratin…

Shami, Anis

This paper analyzes the impact of non-financial reporting frameworks and double materiality (DM) on ESG ratings using annual reports of 366 European listed companies from 2020-2022. Findings show that adoption of reporting frameworks is ass…

null Simona Heseková

This paper argues that the credibility of ESG ratings is crucial for their use in financial markets and positively assesses the EU regulation 2024/3005 for enhancing transparency. It confirms that industry classification influences rating m…

Jiayin Sun

This paper empirically examines the effect of ESG performance on the cost of equity capital. It finds that ESG reduces cost of equity through lower risk premiums, reduced information asymmetry, and a larger investor base. The effect is mode…

Su-Young Choi, Heejeong Shin

This study empirically analyzes whether ESG ratings mitigate market underreaction to financial information in corporate valuation. Results show that underreaction is alleviated for firms disclosing ESG information, especially those with hig…

Yen-Yu Liu, Pin-Sheng Lee

This study uses Cox survival analysis on 2016-2024 data from Taiwanese listed firms to examine how sustainability disclosure and assurance affect ESG performance persistence (time to rating decline). Voluntary disclosure is associated with …

Jan Schneemeier, Adelina Barbalau

This paper models a strategic interaction where ESG ratings inform firms about investor preferences, strengthening incentives to manipulate ESG disclosures. Greater rating precision amplifies manipulation motives but reduces its price impac…

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This paper analyzes the relationship between sustainable supply chain management (SSCM) and corporate financial information. It likely examines the impact of SSCM practices on financial performance and proposes indicators for supplier evalu…

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This paper proposes a method to construct and manage ESG factors using news text data. It explores the use of natural language processing to extract ESG-related information for investment decisions.

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This paper discusses R&D directions for manufacturing in the circular economy era. No abstract is available.

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This paper explores the sustainability requirements for the textile industry. While details are lacking, it likely discusses environmental impact reduction and social responsibility in the sector.

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This special issue examines greenwashing from multiple perspectives, discussing the credibility of corporate environmental claims and disclosure challenges. Based on real examples and regulatory trends, it offers insights for improving tran…

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This paper analyzes the attributes of companies that issue bonds aimed at solving environmental and social issues (e.g., green bonds). It clarifies issuer characteristics such as size, industry, and financial profile, providing foundational…

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This paper proposes an efficient method for extracting ESG information from corporate websites using machine learning. It reduces cost and time compared to manual collection. The method leverages natural language processing and text classif…

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This paper discusses how ESG investment facilitates institutional investors' contribution to the SDGs. By incorporating ESG criteria into investment decisions, capital flows can be directed toward sustainable projects, enhancing social impa…

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This paper proposes methods to visualize and disclose the biodiversity contribution of corporate afforestation activities, examining alignment with disclosure frameworks and practical applicability.