Quotation 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.


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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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Publication's profile

Status of publication Published
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)
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