UN PRI Signatories' Ethics: Walk the Talk or Talk the Talk? Serious Ethical First Movers vs. Late Free Riders

Autor:	Bernhard Zwergel, Sebastian Utz, Sebastian Zeile, Tobias Bauckloh
Rok vydání:	2019
Předmět:	Free rider problem Political science Institutional investor Event study Commit Business activities Law and economics
Zdroj:	SSRN Electronic Journal.
ISSN:	1556-5068
DOI:	10.2139/ssrn.3386095
Popis:	The UN Principles for Responsible Investment (UN PRI) is a prominent global initiative by institutional investors to support the development of a sustainable financial system. Neither the participation in this initiative nor the implementation of the principles by its signatories are compulsory. In our paper, we investigate to what extent UN PRI signatories base their business activities on ethics. With an event study design, we show causal evidence that UN PRI signatories perform better in the ethical dimension than matched non-signatories after the signature date. Early signatories commit themselves significantly stronger towards ethical principles than later signatories.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::5643e76504e8a8d3aaef6374618f900c https://doi.org/10.2139/ssrn.3386095 Zobrazit plný text záznamu