The Covid-19 Black Swan: The Influence of Audit Quality, ESG and ESG Assurance on Stock Resilience

This thesis examines the impact of Audit Quality, ESG scores, ESG Assurance, and financial performance on stock resilience during the Covid-19 crisis. Study 1 reveals that only the Social Pillar Score significantly influences resilience, contrary to conventional Governance emphasis. Study 2 confirms Big 4 audit firms boost stock resilience, enhancing investor confidence. Study 3 shows ESG Assurance, especially by Big 4, improves resilience, reflecting market preference for credible assurances. Study 4 finds no significant link between ETR and resilience, but underscores the value of ESG Assurance in crisis contexts, highlighting its importance for stakeholder trust and stability.