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We investigate how corporate environmental responsibility (CER) actions affect firm value. We adopt an event studies approach using two narrowly-decided 5-to-4 Supreme Court rulings and show that firms gain value when they are expected to increase their CER activities. The market reactions are...
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In this paper, we replicate and expand Hawn, Chatterji, & Mitchell (2018) that used DJSI events to measure variations in firms' CSR-activism and examined their effect on a firm's stock price. We use DJSI events to capture variations in firms' CSR visibility, holding CSR-activism constant by...
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index—TRESGDX, emerging markets ESG index—TRESGEX, US large-cap ESG index—TRESGUS, Europe ESG index—TRESGEU, and those of …, social, and governance (ESG). It is an investment strategy that seeks to combine social and/ or environmental benefits with … the financial returns of the Thomson Reuters/S-Network global indices, namely the developed markets (excluding US) ESG …
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This paper empirically analyzes the effect of the inclusion of German corporations in the Dow Jones STOXX Sustainability Index (DJSI STOXX) and the Dow Jones Sustainability World Index (DJSI World) on stock performance. In order to receive robust estimation results, we apply an event study...
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