Does earnings quality mediate the relation between ESG performance and cost of equity? An empirical investigation

After reviewing the evolution of key concepts in sustainability, namely Corporate Social Responsibility (CSR) and Environmental Social and Governance (ESG) ratings, and conducting a literature review in the field of corporate finance, this study investigates the mediating effect of financial reporting quality on the relationship between ESG performance and the risk premium paid to investors by companies.

Dopo una ricognizione dell'evoluzione di concetti cardine della sostenibilità, ossia la Corprorate Social Responsibility (CSR) e i rating Environmental Social and Governance (ESG), e una review della letteratura scientifica in ambito corporate finance, il presente lavoro indaga la mediazione della qualità della reportistica finanziaria nella relazione tra performance ESG e premio al rischio pagato agli investitori dalle aziende.