Som beskrivits i studiens problematisering råder inget konsensus huruvida ESG-betyg är en bidragande faktor till avkastning eller ej, och en utökad kvantitet av studier är därmed önskad för att finna konsensus inom en snar framtid.
Ett förslag på vidare forskning, när ESG-betyg blir tillgängligt för fler bolag på Stockholmsbörsen, är att även inkludera bolag från OMXS Small Cap och MTF:er för att stärka validiteten för sambandet mellan ESG-betyg och avkastning. Studien är även genomförd över en begränsad tidsperiod om två undersökningsår, där aktiemarknaden varit präglad av en tydlig positiv utveckling. Detta öppnar för att även utföra studien under en längre tidsperiod, alternativt en liknande period som i stället präglas av en negativ konjunkturutveckling.
Gällande det praktiska genomförande av studier, skulle eventuellt förklaringsvariabler som ej hade signifikant påverkan på avkastningen kunna ersättas av andra variabler som möjligen skulle haft större relevans för studien. Studien har avgränsats till att inkludera tre prestationsmått; Sharpekvot, Jensens Alfa och Treynorkvot, men ett ytterligare prestationsmått till framtida studier är att även inkludera Sortinokvot då denna endast tar hänsyn till så kallad downside risk, då en stigande aktiekurs generellt sett inte är ofördelaktigt för investerare.
Slutligen, är samtliga resultat baserade på portföljer avseende ESG-betyg, vilket innebär att någon djupare information om varje enskilt bolag är begränsa även om diverse kontrollvariabler inkluderats. För att tydligare redogöra för ESG-betygens faktiska påverkan på svenska bolags aktiekurs skulle fallstudier som undersöker specifika bolag djupare, kunna bidra med komplement till denna studies resultat.
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