Aug 2026
Do ESG Ratings Predict Credit Risk? Evidence From Croatian Firms and A Machine Learning Perspective
A weak and unstable relationship between ESG measures and HGK credit ratings is found, and ESG ratings in this context appear to reflect firm size, sector, and reporting capacity more than a strong standalone signal of credit risk.
Vlatka Bilas, Tomislav Radoš, Lana Frkovic
· Communications of Internatio... · 0 citations