The value relevance of environmental, social, and governance disclosure: Evidence from Dow Jones Sustainability World Index listed companies
| Autor: | Renato Medei, Enrico Supino, Selena Aureli, Sabrina Gigli |
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| Přispěvatelé: | Selena Aureli, Sabrina Gigli, Renato Medei, Enrico Supino |
| Rok vydání: | 2019 |
| Předmět: |
Index (economics)
Financial performance business.industry Strategy and Management Corporate governance 05 social sciences Event study Market reaction Accounting 06 humanities and the arts Management Monitoring Policy and Law Development 0603 philosophy ethics and religion 0502 economics and business Value (economics) Sustainability ESG data event study listed companies sustainability report value relevance Relevance (law) 060301 applied ethics Business 050203 business & management |
| Zdroj: | Corporate Social Responsibility and Environmental Management. 27:43-52 |
| ISSN: | 1535-3966 1535-3958 |
| Popis: | The relationship between a company's sustainability practices and its financial performance has been investigated with different methods and from different theoretical perspectives. This study aims to answer the following questions: (a) Do investors react to the publication of sustainability reports on company websites? (b) Has the market reaction to the publication of the sustainability report increased in the last few years? In this study, 170 report disclosures were considered from 55 listed companies from all over the world in the period from 2009 to 2016. To analyze the impact of the report publications on the security returns, 33 different event windows were analyzed. Results show two significant event windows and an increasing level of significance in the reports released after 2013. |
| Databáze: | OpenAIRE |
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