Zingg, Aline, Reiner, Gerald. 2013. The value of voluntary sustainability reporting - an event study in the financial services industry. In 20th EurOMA Conference, Hrsg. EurOMA, 1-10. Dublin, Ireland: None.
BibTeX
Abstract
This paper investigates the relationship between voluntary sustainability reporting and the stock performance of financial firms. A multi-period event study is used to identify the abnormal return associated with the announcement of the publication of Global Reporting Initiative compliant reports. The findings suggest a negative effect on stock performance – implying that shareholder wealth decreases as a result of this announcement – although weakening over the years. Inspecting the days surrounding the announcement reveal that a negative reaction persists, the latter being simply delayed until after the event, hence hinting at a market disappointed by sustainability reports content.
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Status of publication | Published |
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Affiliation | External |
Type of publication | Contribution to conference proceedings |
Language | English |
Title | The value of voluntary sustainability reporting - an event study in the financial services industry |
Title of whole publication | 20th EurOMA Conference |
Editor | EurOMA |
Page from | 1 |
Page to | 10 |
Location | Dublin, Ireland |
Year | 2013 |
Open Access | N |
Associations
- People
- Reiner, Gerald (Details)
- External
- Zingg, Aline (Université de Neuchâtel, Switzerland)
- Research areas (ÖSTAT Classification 'Statistik Austria')
- 1133 Computer-aided simulation (Details)
- 5307 Business and management economics (Details)
- 5316 Industrial management (Details)
- 5326 Production research (Details)
- 5354 Business logistics (Details)
- 5365 Quality management (Details)