2023
DOI: 10.1177/0258042x231181758
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Is ESG Data Financially Viable? A Case of Stock Price Synchronicity

Srikanth Potharla,
Neeraj Kumar,
Pooja Choudhary
et al.

Abstract: According to the information efficiency view, stock price synchronicity reflects the degree of integration of firm-specific information with market-level information. Stock price synchronicity is higher (lower) when there is a higher (lower) level of integration between the firm and the overall market information. As the disclosure of environmental, social and governance data provides more firm-specific, non-financial, value-relevant information to the market, stock prices reflect such information efficiently.… Show more

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Cited by 2 publications
(1 citation statement)
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“…Understanding the tangible effects of ESG factors on stock price fluctuations is imperative for investors and firms devoted to sustainable operations and forthright disclosure. Potharla et al (2023) examined the association between ESG scores and stock synchronicity in 163 Indian firms, uncovering that higher ESG scores typically inversely relate to stock synchronicity, implying that Indian investors value ESG data in their investment deliberations.…”
Section: Importance Methodological Considerations and Current Trendsmentioning
confidence: 99%
“…Understanding the tangible effects of ESG factors on stock price fluctuations is imperative for investors and firms devoted to sustainable operations and forthright disclosure. Potharla et al (2023) examined the association between ESG scores and stock synchronicity in 163 Indian firms, uncovering that higher ESG scores typically inversely relate to stock synchronicity, implying that Indian investors value ESG data in their investment deliberations.…”
Section: Importance Methodological Considerations and Current Trendsmentioning
confidence: 99%