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The relationship between ESG scores and lending decisions of banks in Europe
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Orientador(es)
Resumo(s)
Este estudo analisa a relação entre os scores ambientais, sociais e governamentais (ESG)
e as decisões de empréstimo de 139 bancos pertences à Europa, de 2005 a 2020. Neste
contexto, foram utilizadas variáveis de controlos ao nível dos bancos e métricas do ESG.
As medidas de ESG foram extraídas do Thompson Reuters Eikon e as variáveis dos
bancos do Orbis Bank Focus.
Testamos se os bancos com pontuações ESG mais elevadas têm mais ou menos
probabilidade de emprestar dinheiro a particulares ou empresas, e que tipos de
empréstimos. Os resultados sugerem que os bancos, ao tomarem decisões de empréstimo,
estão preocupados com questões ambientais, sociais e governamentais. O efeito é
amplamente coberto pelas componentes Ambientais e Governamentais. Além disso, foi
encontrada uma relação negativa entre o ESG e os empréstimos hipotecários.
Relativamente aos empréstimos a empresas e a consumidores, verificou-se uma relação
positiva com os ESG.
This paper analyses the relationship between Environmental, Social and Government (ESG) scores and lending decisions of 139 listed banks in Europe, from 2005 to 2020. In this context, bank-level controls and ESG metrics were used. We extract ESG measures from Thompson Reuters Eikon and banks variables from Orbis Bank Focus. We tested whether banks with higher ESG scores are more or less likely to lend money to individuals or firms, and which types of loans. Results suggest that banks, when making loan decisions, are concerned about Environmental, Social and Governmental issues. The effect is largely covered by the Environmental and Governance components. Additionally, it was found a negative relationship between ESG and mortgage loans. Regarding corporate and consumer loans, it was found a positive relationship with ESG.
This paper analyses the relationship between Environmental, Social and Government (ESG) scores and lending decisions of 139 listed banks in Europe, from 2005 to 2020. In this context, bank-level controls and ESG metrics were used. We extract ESG measures from Thompson Reuters Eikon and banks variables from Orbis Bank Focus. We tested whether banks with higher ESG scores are more or less likely to lend money to individuals or firms, and which types of loans. Results suggest that banks, when making loan decisions, are concerned about Environmental, Social and Governmental issues. The effect is largely covered by the Environmental and Governance components. Additionally, it was found a negative relationship between ESG and mortgage loans. Regarding corporate and consumer loans, it was found a positive relationship with ESG.
Descrição
Mestrado Bolonha em Finanças
Palavras-chave
ESG Mortgage Loans Consumer loans Corporate Loans Other Loans Europe
Contexto Educativo
Citação
Bilro, Joana Maria Silvestre (2022). “The relationship between ESG scores and lending decisions of banks in Europe". Dissertação de Mestrado. Universidade de Lisboa. Instituto Superior de Economia e Gestão.
Editora
Instituto Superior de Economia e Gestão