A1 Vertaisarvioitu alkuperäisartikkeli tieteellisessä lehdessä
Environmental, Social, and Governance (ESG) and Firm Valuation : The Moderating Role of Audit Quality
Tekijät: Vaihekoski, Mika; Yahya, Habeeb
Kustantaja: MDPI
Julkaisuvuosi: 2025
Journal: Journal of Risk and Financial Management
Tietokannassa oleva lehden nimi: Journal of Risk and Financial Management
Vuosikerta: 18
Numero: 3
eISSN: 1911-8074
DOI: https://doi.org/10.3390/jrfm18030148
Verkko-osoite: https://doi.org/10.3390/jrfm18030148
Rinnakkaistallenteen osoite: https://research.utu.fi/converis/portal/detail/Publication/485103900
This paper investigates whether the external audit quality has an impact on the link between ESG performance and firm valuation using a sample of publicly listed Nordic firms. The results from a fixed-effect panel regression show that higher ESG scores lead to higher valuation when a Big Four audit firm is engaged as the external auditor, highlighting the impact of audit quality on the the reliability of the ESG evaluation. The finding highlights the importance of intense external audits in reinforcing investors’ confidence in ESG–firm valuation assessment.
Ladattava julkaisu This is an electronic reprint of the original article. |  |
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This research was partly funded by Foundation for Economic Education grant number 230466.
