Investor’s Perception of Value Creation in Environmental Strategies: The Impact of Past Environmental Performance on Future Stock Market Returns
In this paper we test whether investors incorporate into stock market prices thefuture increase or decrease in firm value due to corporate strategies that causebetter or worse firm environmental performance. We report strong evidence thatlow-polluter companies have substantial abnormal positive retu...
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| Format: | Article |
| Language: | English |
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Dunarea de Jos University of Galati
2009-01-01
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| Series: | Annals of Dunarea de Jos University. Fascicle I : Economics and Applied Informatics |
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| Online Access: | http://www.ann.ugal.ro/eco/Doc2009_2/Borsan.pdf |