Dr. Denich Ervin

This research investigates the relationship between sustainability and accounting quality, as well as the direction of this relationship. The analysis focuses on the decline in accounting quality related to earnings management and performance scores derived from the ESG (Environmental, Social, and Governance) assessment frameworks. The final sample includes 126 US companies listed on NASDAQ and NYSE stock exchanges, selected after methodological screening. A detailed and methodological analysis of the accounting and sustainability data of these randomly selected companies from 2018 to 2024 shows a negative relationship using correlation and regression analysis between earnings management and ESG performance for all variables analysed, except for 2023. This negative correlation is statistically significant for each year with a significant correlation, and the R² values indicate that the explanatory power of the models is moderate.
XIII. ÉVFOLYAM 2025. SPECIAL ISSUES 3. 2-12
DOI: 10.24387/CI.SI.2025.3.1

What is fundamentally different about seamless integration of consumers across multiple touch points and devices? Essentially, the difference is that a company needs to track the same consumer across multiple channels. However, if firms were to manage each consumer separately in a single channel, they would only need to track the consumer within that channel. In contrast, omnichannel marketing by its very nature requires firms to have unimaginable consumer tracking capabilities. Data integrity issues are at the frontier of challenges within omnichannel marketing. Though often omnichannel is viewed primarily in terms of the challenges of integrating channels and managing across channels rather than managing channels separately, to do this firms need to address questions of consumer data integrity across the variety of data touchpoints and channels they manage. Current technological developments allow customers to buy products on a variety of online platforms. It is recognised that consumers have different shopping behaviours when searching for information, evaluating alternatives and deciding to buy products and services using different channels (online and offline) at the same time, which changes their shopping behaviour.
XIII. ÉVFOLYAM 2025. SPECIAL ISSUES 1. 87-91
DOI: 10.24387/CI.SI.2025.1.12

The present study aims to examine the impact of ESG ratings on the stock prices of companies within the European Union. The central question the study seeks to answer is twofold: firstly, to what extent the ratings issued by the ESG rating partners (MorningStar Sustainalytics, London Stock Exchange Group, and Morgan Stanley Capital International) are consistent with each other, and secondly, to what extent they influence the stock price of companies. A sample of 50 companies was selected from a simple random sample of the 100 largest market capitalisation companies in the European Union. ESG rating data were obtained from three independent rating partners, while stock prices were retrieved from a publicly available stock exchange database for the period 1 January 2024 to 31 December 2024. Descriptive statistical analysis, correlation calculations and scaling transformation were used to explore the relationships between ESG ratings and stock prices.

The result of the analysis demonstrates that there is a weak positive correlation between certain ESG ratings, particularly between Morgan Stanley Capital International’s ratings and those of other rating agencies, which can be considered significant. However, the relationship between ESG ratings and stock price movements is weak negative and not significant. Consequently, a negative correlation suggests that the ratings are in fact progressing in a favourable direction. This indicates that other factors are more significant determinants of individual stock price movements.
XIII. ÉVFOLYAM 2025. SPECIAL ISSUES 1. 2-9
DOI: 10.24387/CI.SI.2025.1.1