Impact of the sustainability report on Hungarian stock prices

A tétel rövid nézete
dc.contributor.authorTömöri, Gergő
dc.contributor.authorLakatos, Vilmos
dc.date.accessioned2026-01-14T12:09:36Z
dc.date.available2026-01-14T12:09:36Z
dc.date.issued2024-12-31
dc.description.abstractESG reporting has become increasingly significant for evaluating corporate sustainability. Our study examined firms that had been publicly listed for several years by 2023, and which had already engaged in ESG reporting voluntarily, showing an early, consistent commitment to sustainability despite the absence of regulatory requirements. We hypothesised that this group’s market valuation metrics would reflect a more favourable and realistic investor assessment compared to a control group. However, our findings revealed that while statistically significant differences appeared primarily in the Price-to-Book Value (P/BV) ratios, overall, the investor assessments did not yet demonstrate a statistically significant divergence on average. This may suggest that ESG reports serve more as marketing tools than as indicators of genuine sustainable resource management, which some investors recognise from other mandatory financial disclosures. These insights can support further research on the Hungarian investment climate and aid in refining EU sustainability directives within Hungary’s regulatory framework. JEL classification code: Q56, G11en
dc.description.abstractESG reporting has become increasingly significant for evaluating corporate sustainability. Our study examined firms that had been publicly listed for several years by 2023, and which had already engaged in ESG reporting voluntarily, showing an early, consistent commitment to sustainability despite the absence of regulatory requirements. We hypothesised that this group’s market valuation metrics would reflect a more favourable and realistic investor assessment compared to a control group. However, our findings revealed that while statistically significant differences appeared primarily in the Price-to-Book Value (P/BV) ratios, overall, the investor assessments did not yet demonstrate a statistically significant divergence on average. This may suggest that ESG reports serve more as marketing tools than as indicators of genuine sustainable resource management, which some investors recognise from other mandatory financial disclosures. These insights can support further research on the Hungarian investment climate and aid in refining EU sustainability directives within Hungary’s regulatory framework. JEL classification code: Q56, G11hu
dc.formatapplication/pdf
dc.identifier.citationCompetitio, Vol. 23 No. 1-2 (2024) , 94-107
dc.identifier.doihttps://doi.org/10.21845/comp/2024/1-2/5
dc.identifier.eissn2939-7324
dc.identifier.issn1588-9645
dc.identifier.issue1-2
dc.identifier.jatitleCom
dc.identifier.jtitleCompetitio
dc.identifier.urihttps://hdl.handle.net/2437/402158
dc.identifier.volume23
dc.languageen
dc.relationhttps://ojs.lib.unideb.hu/competitio/article/view/15172
dc.rights.accessOpen Access
dc.rights.ownerGergő Tömöri, Vilmos Lakatos
dc.subjectESGen
dc.subjectsustainabilityen
dc.subjectmarket indicatorsen
dc.titleImpact of the sustainability report on Hungarian stock pricesen
dc.typefolyóiratcikkhu
dc.typearticleen
dc.type.detailedidegen nyelvű folyóiratközlemény hazai lapbanhu
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