Iocchi, Alessio (A.A. 2024/2025) The ESG score effect on M&A transactions: evidence on acquisition premiums and post-acquisition capital efficiency. Tesi di Laurea in M&A and investment banking, Luiss Guido Carli, relatore Luigi De Vecchi, pp. 106. [Master's Degree Thesis]

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Abstract/Index

The ESG debate: value creation or greenwashing? Framing the question: the rise of ESG in corporate finance. Theoretical debate: value creation vs. greenwashing. ESG as a strategic dimension of corporate strategy. Why ESG matters in M&A. Literature review and conceptual framework. ESG and firm valuation: mechanisms and pricing channels. Determinants of M&A premiums: classical perspectives. The ESG–M&A nexus: theory and empirical evidence. ESG and financial performance: why evidence is inconclusive. Research gaps and transition to empirical framework. Hypotheses and conceptual framework. Limitations of existing research and implications. From theoretical gaps to testable constructs. Research hypotheses. Data and empirical strategy. Data sources and sample construction. Empirical strategy. Descriptive evidence and overview of the empirical findings. ESG and acquisition premiums: evidence of a greenium (H1). ESG and post-deal operating performance (H2). Conditional mechanisms and post-deal performance (H3, H4). ESG, greenwashing and the risk of mispriced sustainability.

References

Bibliografia: pp. 100-104. Sitografia: p. 105.

Thesis Type:	Master's Degree Thesis
Institution:	Luiss Guido Carli
Degree Program:	Master's Degree Programs > Master's Degree program in Corporate Finance, English language (LM-77)
Chair:	M&A and investment banking
Thesis Supervisor:	De Vecchi, Luigi
Thesis Co-Supervisor:	Salvati, Andrea
Academic Year:	2024/2025
Session:	Extraordinary
Deposited by:	Alessandro Perfetti
Date Deposited:	01 Jul 2026 15:56
Last Modified:	01 Jul 2026 15:56
URI:	https://tesi.luiss.it/id/eprint/46288

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