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| Author: | Robinson, M. Kleffner, A. Bertels, S. |
| Title: | Signaling sustainability leadership: empirical evidence of the value of DJSI membership |
| Journal: | Journal of Business Ethics
2011 : JUL I, VOL. 101:3, p. 493-505 |
| Index terms: | corporate responsibility social responsibility sustainable development leadership financial performance reputation |
| Freeterms: | CSR |
| Language: | eng |
| Abstract: | This article explores both the short-term and the intermediary impact on North American firms of being included or removed from the Dow Jones Sustainability World Index (DJSI). The results provide evidence that being added to the DJSI results in a sustained increase in a firm's share price, suggesting that the benefits of being included on the DJSI outweigh the costs associated with applying. There is also noted a temporary decrease in the value of firms for the first 10 days after their removal from the DJSI. Yet, this effect is eliminated within the next 10 trading days. |
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