投资者如何评价企业获得生态标签的决定?渔业的证据

IF 2 3区 经济学 Q2 ECONOMICS
M. Luna, M. García‐Olalla, J. L. F. Sánchez
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引用次数: 1

摘要

在迫切需要更可持续的做法的背景下,渔业仍然怀疑采用这些做法所带来的好处是否大于相关成本。为了提供回答这个问题的见解,本研究通过测量股市对遵守自愿环境标准的公告的反应,对“绿色是值得的”假说进行了分析。为此,我们进行了一项事件研究,以调查一家海鲜公司获得海洋管理委员会监管链标准认证的公告是否会影响其股东的决定,从而影响公司的市场价值。结果显示,该事件之后的异常回报率为正平均值;对于那些规模较大或盈利能力较低的公司来说,这些回报更大。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
How Do Investors Value Firms’ Decisions on Obtaining an Eco-label? Evidence from the Fishing Industry
In a context of a pressing need for more sustainable practices, the fishing industry still has doubts about whether the benefits resulting from adopting them outweigh the associated costs. With the aim of providing insights to answer that question, this study presents an analysis of the “it pays to be green” hypothesis by measuring the stock market reaction to the public announcements of compliance with voluntary environmental standards. To this end, an event study has been carried out to investigate whether the announcement that a seafood company has been certificated by the Marine Stewardship Council Chain of Custody Standard influences its shareholders’ decisions and, therefore, the company’s market value. Results show positive average abnormal returns following that event; these returns are greater in the case of those companies with larger size or lower profitability.
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来源期刊
Marine Resource Economics
Marine Resource Economics 农林科学-渔业
CiteScore
4.30
自引率
10.30%
发文量
25
审稿时长
>12 weeks
期刊介绍: Marine Resource Economics (MRE) publishes creative and scholarly economic analyses of a range of issues related to natural resource use in the global marine environment. The scope of the journal includes conceptual and empirical investigations aimed at addressing real-world oceans and coastal policy problems. Examples include studies of fisheries, aquaculture, seafood marketing and trade, marine biodiversity, marine and coastal recreation, marine pollution, offshore oil and gas, seabed mining, renewable ocean energy sources, marine transportation, coastal land use and climate adaptation, and management of estuaries and watersheds.
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