 Sustainable Development and Corporate Financial Performance: A Study Based on the FTSE4Good IBEX IndexMaria Charlo, Ismael Moya and Ana M. Muñoz Business Strategy and the Environment, 2015, vol. 24, issue 4, 277-288 Abstract: The social and environmental aspects of business investment and financing are becoming increasingly important. Most studies on corporate social responsibility (CSR) focus on analysing the relationship between company performance in the financial and social fields. However, the results obtained have not been conclusive, mainly due to the variables used to measure CSR. In order to simplify its measurement, in this work we used an empirical analytical method to determine possible differences between the financial variables of firms considered to be socially responsible and those not considered to be such. The results obtained show that socially responsible corporations obtain higher profits for the same level of systematic risk and show greater sensitivity to market changes, leverage levels and company size. This pioneering study is the first to make use of the first, and at the present time only, Spanish sustainability index, the FTSE4Good IBEX. Copyright © 2013 John Wiley & Sons, Ltd and ERP Environment. Date: 2015 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:bla:bstrat:v:24:y:2015:i:4:p:277-288 Ordering information: This journal article can be ordered from Access Statistics for this article Business Strategy and the Environment is currently edited by Richard Welford More articles in Business Strategy and the Environment from Wiley Blackwell |
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