Senior Honors Projects, 2020-current

Creative Commons License

Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.

Date of Graduation




Document Type


Degree Name

Bachelor of Science (BS)


Department of Finance and Business Law


Jason D. Fink

Hui H. Sono

Felix Wang


Investors and firms are increasingly concerned with their Environmental, Social and Governance (ESG) risk exposures. Awareness of firms’ ESG policies by investors has grown substantially over the past five years. This growth led to the creation of company ratings for ESG operational risk exposure from third parties. We will analyze six years of ESG rankings, accounting and return data for S&P 500 firms and test whether ESG risk management ratings are associated with market derived measures of risk.



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