Performance of Nifty and ESG Index: A Relative Approach to Non-financial Reporting

Abstract

This paper tries to compare the performance of NIFTY and ESG Index and examines if the reporting of non-financial information by the firms in ESG Index affects the performance of ESG Index as compared to NIFTY Index in the pre-crisis, crisis and post-crisis period. Comparison is done by combining both the indices and forming a new index for which performance has been measured for different time periods. The results show that NIFTY Index has performed better in pre-crisis period but ESG Index have performed better in crisis and post-crisis period.