ВЛИЯНИЕ ПРИНЦИПОВ ESG НА РЕЗУЛЬТАТЫ ПЕРВИЧНОГО ПУБЛИЧНОГО РАЗМЕЩЕНИЯ АКЦИЙ: КОМПЛЕКСНЫЙ АНАЛИЗ
Keywords:
ESG, IPO, занижение цен, устойчивое развитие, корпоративное управление, институциональные инвесторыAbstract
This study analyzes the impact of environmental, social, and corporate
responsibility (ESG) principles on initial public offering (IPO) performance using a sample of
8,186 IPOs in 45 countries over the period 2020–2024. Results show that companies with ESG
disclosures exhibit an average underpricing of 10.4%, compared to 17.4% for companies without
ESG reporting, representing an economically significant difference of 7.0 percentage points. The
study confirms that ESG principles create material value by reducing information asymmetries,
increasing institutional investor interest, and reducing systematic risk.
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