ItemConference Paper

Impact of ESG Index on the Stock Return: Empirical Evidence from CRIP Sector

Title
Impact of ESG Index on the Stock Return: Empirical Evidence from CRIP Sector
Creator
Abhilash, G.; Rajath, B.S.; Vinaysagar, L.S.; Santhosh, J.V.; Dsouza, Arun G.
Description
In modern times, investment decisions are significantly influenced by a range of metrics. One widely embraced investment strategy in both developed and developing economies is investment through analysing Environmental, Social Responsibility, and Governance (ESG) factors. Investors rely on ESG scores as a valuable resource to pinpoint companies that are more likely to maintain their growth trajectory while reducing the possibility of encountering negative occurrences such as legal complications, controversies, and unfavourable public attention. This, in turn, facilitates more effective risk management and enhances returns on investment. However, the influence of ESG factors on stock returns within the Construction, Real Estate, Infrastructure, and Project (CRIP) sector is relatively limited. Consequently, the main aim of this study is to assess how ESG aspects influence the returns of stocks in companies operating in the CRIP sector. To conduct this analysis, we employed the Crisil ESG database, which provides comprehensive data on ESG metrics and stock returns. A sample containing 35 companies from the CRIP industry was meticulously chosen for investigation. To quantify the influence of ESG aspects on stock returns within the CRIP sector, a Fixed Effect Panel Regression Model was applied. The study results suggest a favourable and considerable relationship of ESG ratings on the closing stock price. Furthermore, the analysis demonstrates a large and beneficial influence of ESG ratings on stock returns. These results contain substantial implications for investors and stakeholders having a vested interest in making well-informed investment choices within the CRIP industry. The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2025.
Source
Lecture Notes in Civil Engineering;Volume;601;pp.356-365
Date
01-01-2025
Publisher
Springer Science and Business Media Deutschland GmbH
Subject
Construction; Environment; Infrastructure and project management (CRIP); Real Estate; Social and Governance (ESG); Sustainable Development; Sustainable Growth
Coverage
Abhilash G., School of Commerce and Management Studies, Dayananda Sagar University, Bengaluru, India; Rajath B.S., School of Business and Management, Christ University, Bengaluru, India; Vinaysagar L.S., Department of Commerce and Management, Seshadripuram Evening College, Bengaluru, India; Santhosh J.V., Department of Commerce and Management, Seshadripuram Evening College, Bengaluru, India; Dsouza A.G., Department of Management Studies, Malaviya National Institute of Technology Jaipur, Jaipur, India
Rights
Restricted Access; Hardcopy may be available in the library
Relation
ISSN: 23662557; ISBN: 978-981964901-3;
Format
online
Language
English
Type
Conference paper

Citation

Abhilash, G.; Rajath, B.S.; Vinaysagar, L.S.; Santhosh, J.V.; Dsouza, Arun G., “Impact of ESG Index on the Stock Return: Empirical Evidence from CRIP Sector,” CHRIST (Deemed To Be University) Institutional Repository, accessed June 18, 2026, https://archives.christuniversity.in/items/show/25555.

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