ESG controversies and external assurance: Examining their impact on firm value and image
研究了媒体曝光的ESG负面新闻（争议）是否促使企业为ESG信息寻求外部鉴证，以及这一决策如何影响被质疑企业的形象和市场价值。基于1149家跨国企业样本，发现争议促进了鉴证决策，进而改善声誉、利益相关者参与度和市场价值。
Controversies, news about inappropriate corporate behaviour from an environmental, social, and governance (ESG) perspective, published in the media, put companies in a delicate situation and represent a reputational risk that can have a negative impact on firm value. In this paper, we analyse whether and under what conditions this type of negative news leads to business decisions aimed at ensuring stakeholder confidence, such as engaging assurance services for ESG information, and we determine the impact that this decision may have on the image and value of publicly questioned companies. The results obtained for a sample of 1149 multinational companies, of which 888 have engaged external assurance, show that controversies have favoured this decision, which improves the reputation, stakeholder engagement and market value of companies, being slightly affected by negative news about corporate actions related to customers, shareholders and investors, and employees.