Hållbara investeringar - lönsamt även för den rationella investeraren? En kvantitativ studie om sambandet mellan ESG och avkastning på den svenska storbolagslistan

Abstract

The aim of this study is to examine whether a relationship between sustainability and return for investors can be found on the Swedish stock market, here represented by the OMX Large Cap. Sustainability is something that for long has been difficult to measure, but the study uses Bloomberg's ESG rating, which today is seen as well-functioning and used worldwide. The method used is regression analysis and the possible correlation between ESG rating and return is tested. The study also examines whether development of ESG over time leads to growth in return for investors. The result of this study is that no statistically significant relationship between sustainability and return for investors is to be found, and a higher ESG rating thus does not lead to either higher or lower returns.