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How ESG Ratings Can Affect a Firm’s Cost of Equity

Reynolds Holding

trillion in 2016. Investors in firms that emphasize ESG qualities appear to greatly reduce risk and earn returns that exceed those of conventional investments (Derwall et al., energy intensity classification) We first measure COE using an implied COE estimate that relies on residual income and dividend-discounting valuation models.

Equity 40
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Compulsion No, Opportunity Yes in the Delaware Law of Externalities

Reynolds Holding

Levien, [11] in which the Sinclair parent used its control over its partially owned Venezuelan subsidiary Sinven to produce a dividend payout of virtually all Sinvens profits, which had the effect of denying Sinven the freedom to pursue energy opportunities outside of Venezuela. 560 (2016). [2] 2016) (Laster, VC), affd 164 A.3d