Journal
JOURNAL OF BUSINESS ETHICS
Volume 132, Issue 2, Pages 249-258Publisher
SPRINGER
DOI: 10.1007/s10551-014-2323-4
Keywords
Convergent validity; Corporate environmental responsibility; Environmental performance; Environmental risk; Measurement; Ratings
Funding
- Mistra, the Foundation for Strategic Environmental Research
Ask authors/readers for more resources
Different proprietary databases have been used extensively in research to assess the environmental performance and environmental risk of companies. This study explores the convergent validity of the environmental ratings of MSCI ESG STATS (formerly known as Kinder, Lydenberg, and Domini Research & Analytics; KLD), Thomson Reuters ASSET4 (ASSET4) and Global Engagement Services (GES). The study shows that the ratings have common dimensions, but on aggregate, they do not converge. On the environmental opportunity side, KLD environmental strengths, and ASSET4 and GES environmental performance metrics correlate highly and provide convergent scores for US companies from 2003-2011. On the environmental risk side, KLD environmental concerns converge with the GES environmental industry risk and company emissions from the ASSET4 database. Further analysis confirms that industry-related risks are drivers of company-specific environmental performance.
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available