Do sustainability reports make sense for asset selection?

Jean-Jacques Lilti () and Julien Lachuer ()
Additional contact information
Jean-Jacques Lilti: CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique
Julien Lachuer: CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique

Post-Print from HAL

Abstract: The purpose of this article is to determine whether the discourse in sustainability reports and in the CEOs' opening speech is likely to provide relevant information to asset managers. Our results show that greenwashing and entrenchment strategies from executives are detrimental to the social and financial performance of portfolios. Thus, our study combines lexical analysis with data on financial performance and level of responsibility. The methodology developed enables us to reveal what is not said and to establish a reading grid that limits the risk of informational asymmetry.

Keywords: Speech Analysis; Financial Performance; Corporate Social Responsibility; Responsible Scoring; Assets Selection (search for similar items in EconPapers)
Date: 2021
New Economics Papers: this item is included in nep-env
Note: View the original document on HAL open archive server: https://hal.science/hal-03132193
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published in Management international = International management = Gestión internacional, 2021, 25 (2), pp.88-106. ⟨10.7202/1077786ar⟩

Downloads: (external link)
https://hal.science/hal-03132193/document (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03132193

DOI: 10.7202/1077786ar

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().