作者：Tang, Dragon Yongjun; Yan, Jiali; Yao, Yaqiong
作者单位：University of Hong Kong; University of Exeter; Lancaster University
摘要：We examine whether and how common ownership affects Environmental, Social, and Governance (ESG) ratings-an important research question given the increasing use of these ratings in investment decisions and corporate evaluations. We find that companies with major shareholders in common with the rating agency (sister firms) tend to receive higher ESG ratings. When a company becomes a sister firm through a change in the rating agency's ownership structure, its rating from that agency is subsequent...
