ESG rating disagreement and corporate Total Factor Productivity: Inference and prediction
Published in Finance Research Letters, 2025
ESG rating disagreement creates information asymmetry.
This work explores the impact of ESG rating disagreement on total factor productivity from two different approaches: microeconometric and SHAP analysis.
We also find that green innovation under ESG rating divergence may be firm-unfriendly.
Recommended citation: Li, Z., & Yang, Z. (2025). ESG rating disagreement and corporate Total Factor Productivity: Inference and prediction. Finance Research Letters, 78, 107127.
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