Institutional Repository
Technical University of Crete
Technical University of Crete
EN
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| URI: | http://purl.tuc.gr/dl/dias/B3BCC787-6E17-40B5-8485-3DA08F48CDE5 | ||
| Year | 2024 | ||
| Type of Item | Master Thesis | ||
| License |
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| Bibliographic Citation | Pavlos Vourvachakis, "The relevance of ESG indicators for assessing the risk of corporate failure", Master Thesis, School of Production Engineering and Management, Technical University of Crete, Chania, Greece, 2024 https://doi.org/10.26233/heallink.tuc.98697 | ||
| Appears in Collections |
In this thesis a literature review is presented on the relationship between the Environment, Social and Governance (ESG) dimensions and default risk. Subsequently, quantitative research results will be presented to identify possible relationships between the ESG dimensions and company’s probability of default. The company data used in this research were collected from the Refinitiv database and they involve a sample of 1,893 European companies over a 5-year period, from 2018 to 2022. For these 1,893 companies the probability of default is matched with each company, using data provided by the NUS Credit Research Initiative, thus, creating a unique data set of 1,893 companies for a period of 5 years, where the effects of ESG dimensions are examined both on the risk of default and, by extension, on the credit rating of a company. This research adds to the existing literature on ESG and default risk, by examining the significance of the potential impact of ESG on credit ratings and posing new questions for future research.
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