Measurement approaches for inigrated reporting adoption and quality: A systematic literature review, conceptualization and a research agenda
Research output: Contributions to collected editions/works › Article in conference proceedings › Research › peer-review
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CSR COMMUNICATION CONFERENCE 2022: PROCEEDINGS The 6th International CSR Communication Conference Leuphana University of Lüneburg, Lüneburg September 14-16, 2022. ed. / Hannah Trittin-Ulbrich; Dennis Schoeneborn; Matthias Wenzel; Urša Golob; Klement Podnar. 1. ed. Ljķbljani: University of Ljubljana, 2022. p. 135-144 (CSR Communication Conference Proceedings).
Research output: Contributions to collected editions/works › Article in conference proceedings › Research › peer-review
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TY - CHAP
T1 - Measurement approaches for inigrated reporting adoption and quality
T2 - Conference - The 6th International CSR Communication Conference - 2022
AU - Rauschenberger, Finja
AU - Lueg, Rainer
N1 - Conference code: 6
PY - 2022
Y1 - 2022
N2 - Previous assessment of the stock market reation to the accouncement of firms' inclusion European sustainability indices revealed inconclusive results regarding investor reactions. While previous research is largely based on data from the late 1990s and early 2000s, the value of sustainable assets under management has increased sharply within the last decades. Counteracting the divergence of practice and research, the substance of this research lies in answering the question of whether investors appreciate firms' inclusion in a renowned European sustainability index in current times. Performing an event study based on a sample of 77 additions in the time period 2018-2021, the study examines the stock market reaction to firms' inclusion in the FTSE4Good Europe Index based on signaling theory. We analyze thesignificance of abnormal returns using three event windows: the pre-announcement period, the announcement period, and the effective period. We find that in the time period around the announcement date [AD 0, AD +5], stock returns of firms being added to the index positively and significantly increase.The results of the study, therefore, suggest that the addition to the FTSE4Good Europe Index is a significant criterion for asset allocation activities
AB - Previous assessment of the stock market reation to the accouncement of firms' inclusion European sustainability indices revealed inconclusive results regarding investor reactions. While previous research is largely based on data from the late 1990s and early 2000s, the value of sustainable assets under management has increased sharply within the last decades. Counteracting the divergence of practice and research, the substance of this research lies in answering the question of whether investors appreciate firms' inclusion in a renowned European sustainability index in current times. Performing an event study based on a sample of 77 additions in the time period 2018-2021, the study examines the stock market reaction to firms' inclusion in the FTSE4Good Europe Index based on signaling theory. We analyze thesignificance of abnormal returns using three event windows: the pre-announcement period, the announcement period, and the effective period. We find that in the time period around the announcement date [AD 0, AD +5], stock returns of firms being added to the index positively and significantly increase.The results of the study, therefore, suggest that the addition to the FTSE4Good Europe Index is a significant criterion for asset allocation activities
KW - Management studies
M3 - Article in conference proceedings
T3 - CSR Communication Conference Proceedings
SP - 135
EP - 144
BT - CSR COMMUNICATION CONFERENCE 2022
A2 - Trittin-Ulbrich, Hannah
A2 - Schoeneborn, Dennis
A2 - Wenzel, Matthias
A2 - Golob, Urša
A2 - Podnar, Klement
PB - University of Ljubljana
CY - Ljķbljani
Y2 - 14 September 2022 through 16 September 2022
ER -