We reinvestigate the presence of the well-known size bias in ASSET4 ESG data identified by Drempetic et al. (2020) in its successor database, the new Refinitiv ESG database. Following Drempetic et al. (2020) we apply a linear mixed model to explain a company's degree of sustainability by firm size and further control variables. Even though Refinitiv claims to have minimized the size bias in their ESG data, we find that it is still present under the methodology of Refinitiv. Our finding is crucial for e.g. asset owners or asset managers who apply ESG integration and/or best-in-class approaches in portfolio management.

我们重新调查了由 Drempetic 等人确定的 ASSET4 ESG 数据中众所周知的规模偏差的存在。(2020) 在其后续数据库中，即新的 Refinitiv ESG 数据库中。继 Drempetic 等人之后。(2020) 我们应用线性混合模型通过公司规模和进一步控制变量来解释公司的可持续性程度。尽管 Refinitiv 声称已将其 ESG 数据中的规模偏差降至最低，但我们发现它在 Refinitiv 的方法中仍然存在。我们的发现对于在投资组合管理中应用 ESG 整合和/或一流方法的资产所有者或资产管理者等至关重要。