Understanding the Business Relevance of ESG Issues
本文提出一个框架来理解真实与观测到的ESG议题重要性之间的关系，并指出测量误差如何影响这种关系，对研究ESG与公司绩效的学者有参考价值。
ABSTRACT There is a growing interest to understand the business relevance of ESG issues, especially those related to the firm performance. We propose a framework to better understand the relationship between true and observed materiality and outline the associated measurement errors, which reflect the complex, nuanced and time evolving nature of the underlying construct as well as the ESG data. Our framework calls for researchers to consider the different types of measurement errors with care, because the choices made could exacerbate or mitigate the relationship between true and observed materiality. Overall, our framework has implications to the emerging stream of literature that assesses the business relevance of ESG issues.