The impact of Target’s ESG and ESG Gap on shareholder value creation
The aim of this paper is to cover a gap identified in the literature by finding empirical evidence explaining the relationship between the target firm’s ESG score and ESG Gap and the abnormal returns registered by the acquirer. The paper uses a cross-sectional dataset based on an international sample of 171 merger and acquisition transactions, occurred between 2002 and 2020. The even-study metho
