Publication: Betting Against ESG Sinners: Evidence From Short Selling Around the World
Betting Against ESG Sinners: Evidence From Short Selling Around the World
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Iwata, T., Orpiszewski, T., & Thompson, M. (2024). Betting Against ESG Sinners: Evidence From Short Selling Around the World (No. 4818314; SSRN). https://doi.org/10.2139/ssrn.4818314
Abstract
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This paper explores the uncharted territory of short-selling around controversial environmental, social, and governance (ESG) events. Leveraging unique datasets from FIS Global and RepRisk, we investigate shorting behavior and ESG controversies across three prominent equity indices in the United States, Europe, and Japan. In doing so, we present the first empirical evidence on the co-movement of stock prices and short interest in response to ESG news. Employing a combination of event studies and statistical methods common in clinical
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Iwata, T., Orpiszewski, T., & Thompson, M. (2024). Betting Against ESG Sinners: Evidence From Short Selling Around the World (No. 4818314; SSRN). https://doi.org/10.2139/ssrn.4818314