Utilize este identificador para referenciar este registo: http://hdl.handle.net/10071/9932
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dc.contributor.authorLourenço, I.-
dc.contributor.authorBranco, M.-
dc.contributor.authorCurto, J.-
dc.contributor.authorEugénio, T.-
dc.date.accessioned2015-10-07T14:29:36Z-
dc.date.available2015-10-07T14:29:36Z-
dc.date.issued2012-
dc.identifier.issn0167-4544por
dc.identifier.urihttps://ciencia.iscte-iul.pt/public/pub/id/6206-
dc.identifier.urihttp://hdl.handle.net/10071/9932-
dc.descriptionWOS:000305465400001 (Nº de Acesso Web of Science)-
dc.description.abstractThis study provides empirical evidence on how corporate sustainability performance (CSP), as proxied by membership of the Dow Jones sustainability index, is reflected in the market value of equity. Using a theoretical framework combining institutional perspectives, stakeholder theory, and resource-based perspectives, we develop a set of hypotheses that relate the market value of equity to CSP. For a sample of North American firms, our preliminary results show that CSP has significant explanatory power for stock prices over the traditional summary accounting measures such as earnings and book value of equity. However, further analyses suggest that we should not focus on corporate sustainability itself. Our findings suggest that what investors really do is to penalize large profitable firms with low level of CSP. Firms with incentives to develop a high level of CSP not engaging on such strategy are, thus, penalized by the market.por
dc.language.isoengpor
dc.publisherSpringer Verlagpor
dc.rightsopenAccesspor
dc.subjectCanadapor
dc.subjectCorporate sustainabilitypor
dc.subjectUSApor
dc.subjectValue relevancepor
dc.titleHow does the market value corporate sustainability performance?por
dc.typearticleen_US
dc.pagination417-428por
dc.publicationstatusPublicadopor
dc.peerreviewedSimpor
dc.relation.publisherversionThe definitive version is available at: http://dx.doi.org/10.1007/s10551-011-1102-8por
dc.journalJournal of Business Ethicspor
dc.distributionInternacionalpor
dc.volume108por
dc.number4por
degois.publication.firstPage417por
degois.publication.lastPage428por
degois.publication.issue4por
degois.publication.titleJournal of Business Ethicspor
dc.date.updated2015-10-07T14:28:00Z-
Aparece nas coleções:BRU-RI - Artigos em revistas científicas internacionais com arbitragem científica

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