search query: @freeterm market value / total: 6
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| Author: | Lo, S-F. Sheu, H-J. |
| Title: | Is corporate sustainability a value-increasing strategy for business? |
| Journal: | Corporate governance
2007 : MAR, VOL. 15:2, p. 345-358 |
| Index terms: | corporate responsibility social responsibility corporate governance strategy companies USA |
| Freeterms: | corporate sustainability market value |
| Language: | eng |
| Abstract: | Using large U.S. non-financial firms from 1999 to 2002, this paper examines whether corporate sustainability (henceforth as: corp-sust.) has an impact on market value. Taking Tobin's 'q' as the proxy for firm value, there is found a significantly positive relation btw. corp-sust. and its market value. There is also found a strong interaction effect btw. corp-sust. and sales growth on firm value. In addition, there is evidence to support that being sustainable causes a firm to increase its value. |
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