logarithmic daily returns of market index. Then market volatility is the standard deviation of daily return by quarter and year. Quarterly and yearly gambling index returns are sum of logarithmic daily returns
are rather skewed. In the following analysis, the natural logarithm is thus applied to each variable before estimating equations. The logarithmic transformation somewhat moderates the skewness problems
Investor Strategies for Incorporating ESG Considerations into Corporate Interactions www.blackrock.com www.ceres.org Century21st Engagement Investor Strategies for Incorporating ESG Considerations into Corporate Interactions [ 5 ] FOREWORD The Value of Our Voice ......................................................................................................................................... 1 How ESG Megatrends Are Shaping Valuation ...........................................................