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Title: Rates of return on stock prices: Impact of ESG measures Authors:  Piotr Jaworski - University of Warsaw (Poland) [presenting]
Abstract: The aim is to examine the impact of the environmental social and governance (ESG) measures on the rates of return on stock prices of non-financial institutions according to the size of the company and sector divisions. The hypotheses are as follows: ESG risk has got a strong negative impact on the rates of return on the stock prices of the non-financial institutions. The reaction of the rates of return is varied in different sectors and stronger for bigger companies. Panel event models were used to verify these hypotheses. The study used data from the Thomson Reuters Database for the period 2010-2021. The analysis was based on papers and reports on COVID-19, ESG factors and their impact on the rates of return on stock prices changes. The analysis has been made for particular sectors according to the Thomson Reuters division and the size of companies measured by the assets value and the capitalization.