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Teaching Material

Aggregate Confusion: The Divergence of ESG Ratings

Target GroupMaster, PhDResource TypeResearch ArticleDomainSustainable Financial EconomyDuration1h to ≤ 2hAuthorFlorian Berg, Julian F Kölbel, Roberto Rigobon
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Summary

Published in Review of Finance, the research highlights significant inconsistencies in ESG data generation and calls for greater attention to underlying data quality and methodology transparency in ESG rating systems.

Relevant SDGs

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How to use

Use in finance, ESG investing, or corporate sustainability courses. Assign for critical analysis of rating methodologies and investment decision-making challenges. Apply in MBA finance programs examining ESG integration complexities. Use for research on sustainable finance measurement issues. Suitable for practitioner training on ESG data interpretation, investment analysis courses, and academic research on ESG methodology improvements.

Teaching format tip

Research Article

Provide reading guides focusing on methodology, evidence quality, and logical structure. Students should identify key arguments, evaluate supporting evidence, and assess limitations. Use articles as springboards for generating research questions or comparing methodological approaches. Have students present critical analyses to peers, emphasizing how findings connect to broader theoretical frameworks.

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  • Resources
    Subject area
    • General KnowledgeThis section provides general frameworks and concepts related to sustainability that can be used in any discipline and across industries.
    • Specific KnowledgeThis section provides sustainability related content that would enable students following a business or management degree or course to be better equipped to face sustainability related challenges.
      • Economics
      • Management
      • Finance, banking, insurance
      • Marketing and advertising
    Competence area
    • Problem-solving
    • Critical thinking
    • Self-awareness
    • Collaboration
    • Normative awareness
    • Anticipatory thinking
    • Systems thinking
    • Strategy
    Learning approach
    • Cognitive learning
    • Socio-emotional learning
    • Behavioural learning
    • Subject area
      • General KnowledgeGeneral knowledge represents foundational understanding across multiple disciplines needed for sustainable development. It creates an integrated mindset that connects basic and advanced topics across various knowledge domains.
      • Economics
      • Management
      • Finance, banking, insurance
      • Marketing and advertising
    • Skill area
      • Problem-solving
      • Critical thinking
      • Self-awareness
      • Collaboration
      • Normative awareness
      • Anticipatory thinking
      • Systems thinking
      • Strategy
    • Learning approach
      • Cognitive learning
      • Socio-emotional learning
      • Behavioural learning
  • Communities
  • Education for sustainability
  • About us
  • Resources
    Subject area
    • General KnowledgeThis section provides general frameworks and concepts related to sustainability that can be used in any discipline and across industries.
    • Specific KnowledgeThis section provides sustainability related content that would enable students following a business or management degree or course to be better equipped to face sustainability related challenges.
      • Economics
      • Management
      • Finance, banking, insurance
      • Marketing and advertising
    Competence area
    • Problem-solving
    • Critical thinking
    • Self-awareness
    • Collaboration
    • Normative awareness
    • Anticipatory thinking
    • Systems thinking
    • Strategy
    Learning approach
    • Cognitive learning
    • Socio-emotional learning
    • Behavioural learning
    • Subject area
      • General KnowledgeGeneral knowledge represents foundational understanding across multiple disciplines needed for sustainable development. It creates an integrated mindset that connects basic and advanced topics across various knowledge domains.
      • Economics
      • Management
      • Finance, banking, insurance
      • Marketing and advertising
    • Skill area
      • Problem-solving
      • Critical thinking
      • Self-awareness
      • Collaboration
      • Normative awareness
      • Anticipatory thinking
      • Systems thinking
      • Strategy
    • Learning approach
      • Cognitive learning
      • Socio-emotional learning
      • Behavioural learning
  • Communities
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