کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5051100 1371112 2010 9 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
What determines the inclusion in a sustainability stock index?: A panel data analysis for european firms
موضوعات مرتبط
علوم زیستی و بیوفناوری علوم کشاورزی و بیولوژیک بوم شناسی، تکامل، رفتار و سامانه شناسی
پیش نمایش صفحه اول مقاله
What determines the inclusion in a sustainability stock index?: A panel data analysis for european firms
چکیده انگلیسی

This paper empirically examines the determinants of the inclusion of European firms in the Dow Jones Sustainability World Index and the Dow Jones Stoxx Sustainability Index. While a restricted econometric analysis implies a positive effect of corporate financial performance, this impact becomes ambiguous in more flexible panel probit models. Our estimation results therefore strengthen the importance of the use of panel data and the incorporation of unobserved heterogeneity. Furthermore, our analysis shows that the sustainability assessment and selection process for the composition of the Dow Jones sustainability indexes and thus factors that need not necessarily be directly connected to corporate environmental or social activities also have an influence.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Ecological Economics - Volume 69, Issue 4, 15 February 2010, Pages 848-856
نویسندگان
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