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Contribution Details
| Type | Master's Thesis |
| Scope | Discipline-based scholarship |
| Title | ESG Ratings - What Impact do Corporate Mergers Have? |
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| Institution | University of Zurich |
| Faculty | Faculty of Business, Economics and Informatics |
| Number of Pages | 58 |
| Date | 2021 |
| Abstract Text | This thesis explores the impact of Mergers and Acquisitions (M&A) on firms' Environmental, Social, Governance (ESG) scores. It is analyzed whether acquiring targets with better ESG performance can help firms to increase their own ESG performance, and how target and acquirer shareholder structures inuence M&A decisions. For the study, two different ESG scores are used for European and US M&A's between 2006 and 2020. The results show an increase of the acquirers' ESG performance after acquiring targets with higher ESG performance. Furthermore, partial evidence of an amoral drift leading to the choice of dirty rather than clean investments, is provided. |
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