Environmental, Social, and Governance (ESG) and Firm Valuation : The Moderating Role of Audit Quality

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dc.contributor.authorVaihekoski, Mika
dc.contributor.authorYahya, Habeeb
dc.contributor.organizationfi=laskentatoimen ja rahoituksen laitos|en=Department of Accounting and Finance|
dc.contributor.organization-code1.2.246.10.2458963.20.70648218033
dc.converis.publication-id485103900
dc.converis.urlhttps://research.utu.fi/converis/portal/Publication/485103900
dc.date.accessioned2025-08-27T21:42:13Z
dc.date.available2025-08-27T21:42:13Z
dc.description.abstract<p> This paper investigates whether the external audit quality has an impact on the link between ESG performance and firm valuation using a sample of publicly listed Nordic firms. The results from a fixed-effect panel regression show that higher ESG scores lead to higher valuation when a Big Four audit firm is engaged as the external auditor, highlighting the impact of audit quality on the the reliability of the ESG evaluation. The finding highlights the importance of intense external audits in reinforcing investors’ confidence in ESG–firm valuation assessment. <br></p>
dc.identifier.eissn1911-8074
dc.identifier.jour-issn1911-8066
dc.identifier.olddbid200920
dc.identifier.oldhandle10024/183947
dc.identifier.urihttps://www.utupub.fi/handle/11111/47367
dc.identifier.urlhttps://doi.org/10.3390/jrfm18030148
dc.identifier.urnURN:NBN:fi-fe2025082785181
dc.language.isoen
dc.okm.affiliatedauthorVaihekoski, Mika
dc.okm.affiliatedauthorYahya, Habeeb
dc.okm.discipline511 Economicsen_GB
dc.okm.discipline512 Business and managementen_GB
dc.okm.discipline511 Kansantaloustiedefi_FI
dc.okm.discipline512 Liiketaloustiedefi_FI
dc.okm.internationalcopublicationnot an international co-publication
dc.okm.internationalityInternational publication
dc.okm.typeA1 ScientificArticle
dc.publisherMDPI
dc.publisher.countrySwitzerlanden_GB
dc.publisher.countrySveitsifi_FI
dc.publisher.country-codeCH
dc.relation.doi10.3390/jrfm18030148
dc.relation.ispartofjournalJournal of Risk and Financial Management
dc.relation.issue3
dc.relation.volume18
dc.source.identifierhttps://www.utupub.fi/handle/10024/183947
dc.titleEnvironmental, Social, and Governance (ESG) and Firm Valuation : The Moderating Role of Audit Quality
dc.year.issued2025

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