Finance et éthique: la réconciliation ?

Caroline Marie-Jeanne ()
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Caroline Marie-Jeanne: GRANEM - Groupe de Recherche Angevin en Economie et Management - UA - Université d'Angers - AGROCAMPUS OUEST - Institut National de l'Horticulture et du Paysage

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Abstract: How to reconcile finance with social responsibility ? This article studies the links between finance and social responsibilities. As environmental protection laws are currently hardening and since precaution principle develops, a socially and environmentally responsible management reduces the cost of a possible judicial disagreement. It can also facilitate banking loans in so far as banks are incurring more and more risks by financing polluting firms. This decrease in potential crisis situation owing to a socially responsible management is to affect immediately and positively the stocks prices. Furthermore, the financial impact of a social responsible management is going to increase because the « COB » has recently drawn attention to the importance of the accounting information to provide, regarding the firms environmental policy. Thirdly, by analysing socially responsible funds, we can clarify the link between profitability and corporate environmental performance because the social responsible index seems to outperform the reference one.

Date: 2004
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Published in Revue d'économie financière, 2004, 74 (1), pp.319-332. ⟨10.3406/ecofi.2004.5047⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02043560

DOI: 10.3406/ecofi.2004.5047

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