Sustainability for European investors: evidence from a sustainable ranking
| dc.contributor.author | López Arceiz, Francisco José | |
| dc.contributor.author | Santamaría Aquilué, Rafael | |
| dc.contributor.author | Río Solano, María Cristina del | |
| dc.contributor.department | Institute for Advanced Research in Business and Economics - INARBE | en |
| dc.date.accessioned | 2021-01-15T10:10:50Z | |
| dc.date.available | 2021-01-15T10:10:50Z | |
| dc.date.issued | 2020 | |
| dc.description.abstract | La sostenibilidad corporativa implica una amplia perspectiva que sugiere la creación de valor para los stakeholders y requiere desarrollar algunos compromisos a nivel económico, social, ambiental y de gobierno. La medición de los niveles de sostenibilidad corporativa tiene lugar a través de diferentes herramientas, siendo los rankings de sostenibilidad uno de los instrumentos más populares. Sin embargo, el impacto de estos indicadores en el valor de mercado es controvertido. Consecuentemente, nuestro objetivo es analizar la influencia del nivel de sostenibilidad sobre el valor de mercado de un conjunto de empresas. Para ello, aislamos el impacto del factor sostenibilidad de otra serie de efectos relacionados con la evolución general de los mercados financieros. Hemos utilizado información contenida en un ranking sostenible: el medallero elaborado por RobecoSAM. Nuestros resultados revelan que los inversores no valorar por igual los diferentes movimientos y calificaciones derivadas de la participación en un ranking sostenible. | es_ES |
| dc.description.abstract | Corporate sustainability implies a broad perspective that suggests the creation of value for stakeholders and requires developing some commitments at the economic, social, environmental and governance levels. Measurement of the level of corporate sustainability occurs via different tools, with sustainable rankings being one of the most popular instruments. However, the impact of these indicators on the market value is controversial. Consequently, our aim is to analyse the influence of the level of sustainability on the market value of a set of companies. To do so, we isolate the impact of the sustainability factor from other series of effects related to the general evolution of financial markets. We have used the information contained in a sustainable ranking: the medal display table provided by RobecoSAM. Our results reveal that investors do not equivalently value the different movements and marks derived from participation in a sustainability ranking. | en |
| dc.description.sponsorship | This research was funded by Ministry of Economy and Competitiveness (ECO2016-77631-R). | en |
| dc.format.extent | 19 p. | |
| dc.format.mimetype | application/pdf | en |
| dc.identifier.doi | 10.6018/rcsar.369331 | |
| dc.identifier.issn | 1988-4672 | |
| dc.identifier.uri | https://academica-e.unavarra.es/handle/2454/38961 | |
| dc.language.iso | eng | en |
| dc.publisher | EDITUM-Universidad de Murcia | es_ES |
| dc.relation.ispartof | Revista de Contabilidad-Spanish Accounting Review, 2020, 23(2), 148-166 | es_ES |
| dc.relation.projectID | info:eu-repo/grantAgreement/ES/1PE/ECO2016-77631-R/ | |
| dc.relation.publisherversion | https://doi.org/10.6018/rcsar.369331 | |
| dc.rights | © 2020 ASEPUC. Published by EDITUM - Universidad de Murcia. This is an open access article under the CC BY-NC-ND license. | en |
| dc.rights.accessRights | info:eu-repo/semantics/openAccess | |
| dc.rights.uri | https://creativecommons.org/licenses/by-nc-nd/4.0/ | |
| dc.subject | Sostenibilidad | es_ES |
| dc.subject | Rating | es_ES |
| dc.subject | Medallero | es_ES |
| dc.subject | Criterios ESG | es_ES |
| dc.subject | Valor de mercado | es_ES |
| dc.subject | Sustainability | en |
| dc.subject | Ranking | en |
| dc.subject | Medal display table | en |
| dc.subject | ESG criteria | en |
| dc.subject | Market value | en |
| dc.title | Sustainability for European investors: evidence from a sustainable ranking | en |
| dc.title.alternative | Sostenibilidad para los inversores europeos: evidencia desde un ranking sostenible | es_ES |
| dc.type | info:eu-repo/semantics/article | |
| dc.type.version | info:eu-repo/semantics/publishedVersion | |
| dspace.entity.type | Publication | |
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