Corporate Social Responsibility indices for shares listed on the Warsaw and Moscow stock exchanges: design limitations of information value for socially responsible investors
<p align="center">Motivation: Investors often do not have the opportunity to assess how much a company is responsible for its relationships with employees, the environment, and consumers. This is not due to the fact that there are no socially responsible companies in Russia and Polan...
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| Format: | Article |
| Language: | English |
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Uniwersytet Mikołaja Kopernika
2020-06-01
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| Series: | Ekonomia i Prawo |
| Subjects: | |
| Online Access: | https://apcz.umk.pl/czasopisma/index.php/EiP/article/view/30565 |
| _version_ | 1818119891299860480 |
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| author | Robert Huterski Evgeniya Kaz |
| author_facet | Robert Huterski Evgeniya Kaz |
| author_sort | Robert Huterski |
| collection | DOAJ |
| description | <p align="center">Motivation: Investors often do not have the opportunity to assess how much a company is responsible for its relationships with employees, the environment, and consumers. This is not due to the fact that there are no socially responsible companies in Russia and Poland, but it is connected with low informational transparency about the activities of companies and low awareness of socially responsible investment. Well-designed CSR/ESG indexes can over time increase interest in socially responsible investing in stock exchanges and have a positive impact on more pro-social and pro-environmental behaviour of companies.</p><p align="center">Aim: The aim of the article is to evaluate the construction of the CSR/ESG indices of the Warsaw and Moscow stock exchanges from the point of view of their information value for socially responsible investors with particular consideration given to coefficients of correlation with main indices and to coefficients of variation.</p><p align="center">Results: The RESPECT, MRRT and MRSV indices constructions are dominated by the criteria of company selection like in the main indices and they do not give sufficient recognition to the achievements of the companies in the field of CSR. Building rankings that clearly differentiate companies in terms of the degree of their achievement of objectives of CSR is undoubtedly influenced by subjectivism in the selection of evaluated features and their importance. However, copying the set of companies from elementary indices to CSR ones seems unsuitable as it leads to very strong correlations between those indices, which makes them unattractive for investors when compared with the main ones.</p> |
| first_indexed | 2024-12-11T05:17:24Z |
| format | Article |
| id | doaj.art-067553c3cbfa41b391f49bf6c6eec4ae |
| institution | Directory Open Access Journal |
| issn | 1898-2255 |
| language | English |
| last_indexed | 2024-12-11T05:17:24Z |
| publishDate | 2020-06-01 |
| publisher | Uniwersytet Mikołaja Kopernika |
| record_format | Article |
| series | Ekonomia i Prawo |
| spelling | doaj.art-067553c3cbfa41b391f49bf6c6eec4ae2022-12-22T01:19:46ZengUniwersytet Mikołaja KopernikaEkonomia i Prawo1898-22552020-06-0119226127310.12775/EiP.2020.01824749Corporate Social Responsibility indices for shares listed on the Warsaw and Moscow stock exchanges: design limitations of information value for socially responsible investorsRobert Huterski0Evgeniya Kaz1Nicolaus Copernicus University in ToruńNational Research Tomsk State University<p align="center">Motivation: Investors often do not have the opportunity to assess how much a company is responsible for its relationships with employees, the environment, and consumers. This is not due to the fact that there are no socially responsible companies in Russia and Poland, but it is connected with low informational transparency about the activities of companies and low awareness of socially responsible investment. Well-designed CSR/ESG indexes can over time increase interest in socially responsible investing in stock exchanges and have a positive impact on more pro-social and pro-environmental behaviour of companies.</p><p align="center">Aim: The aim of the article is to evaluate the construction of the CSR/ESG indices of the Warsaw and Moscow stock exchanges from the point of view of their information value for socially responsible investors with particular consideration given to coefficients of correlation with main indices and to coefficients of variation.</p><p align="center">Results: The RESPECT, MRRT and MRSV indices constructions are dominated by the criteria of company selection like in the main indices and they do not give sufficient recognition to the achievements of the companies in the field of CSR. Building rankings that clearly differentiate companies in terms of the degree of their achievement of objectives of CSR is undoubtedly influenced by subjectivism in the selection of evaluated features and their importance. However, copying the set of companies from elementary indices to CSR ones seems unsuitable as it leads to very strong correlations between those indices, which makes them unattractive for investors when compared with the main ones.</p>https://apcz.umk.pl/czasopisma/index.php/EiP/article/view/30565socially responsible investmentstock indicescsresg |
| spellingShingle | Robert Huterski Evgeniya Kaz Corporate Social Responsibility indices for shares listed on the Warsaw and Moscow stock exchanges: design limitations of information value for socially responsible investors Ekonomia i Prawo socially responsible investment stock indices csr esg |
| title | Corporate Social Responsibility indices for shares listed on the Warsaw and Moscow stock exchanges: design limitations of information value for socially responsible investors |
| title_full | Corporate Social Responsibility indices for shares listed on the Warsaw and Moscow stock exchanges: design limitations of information value for socially responsible investors |
| title_fullStr | Corporate Social Responsibility indices for shares listed on the Warsaw and Moscow stock exchanges: design limitations of information value for socially responsible investors |
| title_full_unstemmed | Corporate Social Responsibility indices for shares listed on the Warsaw and Moscow stock exchanges: design limitations of information value for socially responsible investors |
| title_short | Corporate Social Responsibility indices for shares listed on the Warsaw and Moscow stock exchanges: design limitations of information value for socially responsible investors |
| title_sort | corporate social responsibility indices for shares listed on the warsaw and moscow stock exchanges design limitations of information value for socially responsible investors |
| topic | socially responsible investment stock indices csr esg |
| url | https://apcz.umk.pl/czasopisma/index.php/EiP/article/view/30565 |
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