External learning resources

The aim of this paper is to investigate the relationship between environmental, social, and governance (ESG) factors and firm market value for the companies from travel and tourism industry and, in the same time, to investigates the question if the association between good ESG scores for travel and tourism companies and their market value can be used as a performance predictor. The impact of extra-financial ESG performance on market value of the companies was estimated using the modified version of the Ohlson (1995) model, based on a sample of 73 listed companies, worldwide distributed, during the 2010–2015 period. The overall results of this research are consistent with the value enhancing theory (as opposed with the shareholder expense theory). From the ESG factors, the governance factor seems to have the most important influence on the market value of the selected companies, regardless of the geographic region where they are located. Thus, our findings provide new insights into the influence of each ESG factor on the market value of the companies, providing a useful tool for stakeholders to measure economic impact but also for use as a predictor of economic performance. 

By George H. Ionescu, Daniela Firoiu, Ramona Vasilas Pîrvu, Ruxandra Dana Vilag, 2019

"ESG" was supposed to be a clear way for companies to explain their business decisions around environmental, social and governance considerations. How did the term go off the rails?

By Kristen Talman, 15th November 2023

Are you puzzling together your ESG strategy? In this blog, we're covering our four best tips for creating a solid foundation of your strategy. 

Environmental, Social, and Governance (ESG) reporting is a cornerstone of modern corporate responsibility. As sustainability and ethical governance become increasingly critical for businesses, ESG reporting helps organizations showcase their commitment to addressing societal challenges, reducing environmental impact, and ensuring strong governance practices. 

Become an Environmental, Social, & Governance specialist with valuable skills in investing, financial and corporate strategy, and more, and earn an in-demand ESG certificate upon completion.

Are you a professional looking to enhance your knowledge and expertise in investing in Environmental, Social, and Governance (ESG)? Look no further! This article will explore the top 5 ESG best courses and certifications that can help you stay ahead in this rapidly growing industry.

Written by Raf Chomsky, posted on January 17, 2024