Información de sostenibilidad y performance financiera en el mercado español: especial referencia al sector financiero

Jose Moneva and Eduardo Ortas Fredes
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Eduardo Ortas Fredes: Universidad de Zaragoza

EKONOMIAZ. Revista vasca de Economía, 2007, vol. 66, issue 03, 246-265

Abstract: Recent years have witnessed a steady growth of the number of firms that report on social and environmental information in separate reports, usually according to international standards, like the Global Reporting Initiative. This process has become more important in Spain than in other European countries, the impact on the financial sector is especially relevant. Arguments used to justify this increase are widely different. According to this issue, the objective of this paper is to evaluate the possible relationship between sustainability reporting, as a proxy of social performance, and the market value of the firms quoting in the Continuous Market of the Madrid Stock Exchange for the period 2003-2006. Accordingly, a specific analysis is focused on the financial sector.

Keywords: banking; financial performance; sustainability reporting; corporate social responsibility (search for similar items in EconPapers)
JEL-codes: G14 M14 M41 (search for similar items in EconPapers)
Date: 2007
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