An Empirical Study of the World Price of Sustainability
The core goal of this study is to empirically investigate whether there is a “world price” of corporate sustainability. This is assessed in the context of standard asset pricing models—in particular, by asking whether a risk premium attaches to a sustainability factor after controlling for the Fama–...
| Authors: | ; ; ; |
|---|---|
| Format: | Electronic Article |
| Language: | English |
| Check availability: | HBZ Gateway |
| Journals Online & Print: | Drawer...
|
| Fernleihe: | Fernleihe für die Fachinformationsdienste |
| Published: |
Springer Science + Business Media B. V
2013
|
| In: |
Journal of business ethics
Year: 2013, Volume: 114, Issue: 2, Pages: 297-310 |
| Further subjects: | B
Sustainability
B World price B Fama–French model B Global equities B Corporate Social Performance |
| Online Access: |
Volltext (JSTOR) Volltext (lizenzpflichtig) |
MARC
| LEADER | 00000caa a22000002 4500 | ||
|---|---|---|---|
| 001 | 1785647539 | ||
| 003 | DE-627 | ||
| 005 | 20230331053324.0 | ||
| 007 | cr uuu---uuuuu | ||
| 008 | 220112s2013 xx |||||o 00| ||eng c | ||
| 024 | 7 | |a 10.1007/s10551-012-1342-2 |2 doi | |
| 035 | |a (DE-627)1785647539 | ||
| 035 | |a (DE-599)KXP1785647539 | ||
| 035 | |a (DE-He213)s10551-012-1342-2-e | ||
| 040 | |a DE-627 |b ger |c DE-627 |e rda | ||
| 041 | |a eng | ||
| 084 | |a 1 |2 ssgn | ||
| 100 | 1 | |a Xiao, Yuchao |e VerfasserIn |4 aut | |
| 245 | 1 | 0 | |a An Empirical Study of the World Price of Sustainability |
| 264 | 1 | |c 2013 | |
| 336 | |a Text |b txt |2 rdacontent | ||
| 337 | |a Computermedien |b c |2 rdamedia | ||
| 338 | |a Online-Ressource |b cr |2 rdacarrier | ||
| 520 | |a The core goal of this study is to empirically investigate whether there is a “world price” of corporate sustainability. This is assessed in the context of standard asset pricing models—in particular, by asking whether a risk premium attaches to a sustainability factor after controlling for the Fama–French factors. Both time-series and cross-sectional tests are formulated and applied. The results show that (1) global Fama–French factors have strong power to explain global equity returns and (2) sustainability investments have no significant impact on global equity returns. The absence of a significant relationship between sustainability and returns implies that large institutional investors are free to implement sustainability mandates without fear of breaching their fiduciary duties from realising negative returns due to incorporating a sustainability investment process. | ||
| 650 | 4 | |a Fama–French model | |
| 650 | 4 | |a World price | |
| 650 | 4 | |a Global equities | |
| 650 | 4 | |a Corporate Social Performance | |
| 650 | 4 | |a Sustainability | |
| 700 | 1 | |a Faff, Robert |e VerfasserIn |4 aut | |
| 700 | 1 | |a Gharghori, Philip |e VerfasserIn |4 aut | |
| 700 | 1 | |a Lee, Darren |e VerfasserIn |4 aut | |
| 773 | 0 | 8 | |i Enthalten in |t Journal of business ethics |d Dordrecht [u.a.] : Springer Science + Business Media B.V, 1982 |g 114(2013), 2, Seite 297-310 |h Online-Ressource |w (DE-627)270937129 |w (DE-600)1478688-6 |w (DE-576)121465284 |x 1573-0697 |7 nnns |
| 773 | 1 | 8 | |g volume:114 |g year:2013 |g number:2 |g pages:297-310 |
| 856 | |3 Volltext |u http://www.jstor.org/stable/23433893 |x JSTOR | ||
| 856 | 4 | 0 | |u https://doi.org/10.1007/s10551-012-1342-2 |x Resolving-System |z lizenzpflichtig |3 Volltext |
| 935 | |a mteo | ||
| 936 | u | w | |d 114 |j 2013 |e 2 |h 297-310 |
| 951 | |a AR | ||
| ELC | |a 1 | ||
| ITA | |a 1 |t 1 | ||
| LOK | |0 000 xxxxxcx a22 zn 4500 | ||
| LOK | |0 001 4033706429 | ||
| LOK | |0 003 DE-627 | ||
| LOK | |0 004 1785647539 | ||
| LOK | |0 005 20220112043759 | ||
| LOK | |0 008 220112||||||||||||||||ger||||||| | ||
| LOK | |0 035 |a (DE-Tue135)IxTheo#2021-12-30#62689F06AF31A634C72AD1B3D7795F352BE299D3 | ||
| LOK | |0 040 |a DE-Tue135 |c DE-627 |d DE-Tue135 | ||
| LOK | |0 092 |o n | ||
| LOK | |0 852 |a DE-Tue135 | ||
| LOK | |0 852 1 |9 00 | ||
| LOK | |0 866 |x JSTOR#http://www.jstor.org/stable/23433893 | ||
| LOK | |0 935 |a ixzs |a ixrk |a zota | ||
| ORI | |a SA-MARC-ixtheoa001.raw | ||