The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.
Is Corporate Sustainability a Value‐Increasing Strategy for Business?
Abstract
A new movement reconciling corporate sustainability and investment is gaining world‐wide attention. Whether corporate sustainability has an impact on market value is examined using large US non‐financial firms from 1999 to 2002 in this paper. Taking Tobin’s q as the proxy for firm value, a significantly positive relation between corporate sustainability and its market value is found. We also find a strong interaction effect between corporate sustainability and sales growth on firm value. Moreover, there is evidence to support that being sustainable causes a firm to increase its value. This indicates that companies with remarkable sustainable development strategies are more likely to be rewarded by investors with a higher valuation in the financial markets.
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Cites
Efficient capital markets: A review of theory and empirical work
Fama, E. F. (1970) · The Journal of Finance · doi:10.2307/2325486 · Cited by 13,635
Hsiao, C. (2014) · doi:10.1017/cbo9781139839327 · Cited by 7,869
A Simple Approximation of Tobin's q
Chung, K. H., & Pruitt, S. W. (1994) · Financial Management · doi:10.2307/3665623 · Cited by 2,460
Cited by
Do Stock Investors Value Corporate Sustainability? Evidence from an Event Study
Wai Kong Cheung, A. (2011) · Journal of Business Ethics · doi:10.1007/s10551-010-0646-3 · Cited by 252
Does corporate sustainability impact firm profitability? Evidence from India
Bodhanwala, S., & Bodhanwala, R. (2018) · Management Decision · doi:10.1108/md-04-2017-0381 · Cited by 194
Morioka, S. N., & Carvalho, M. M. (2016) · Journal of Cleaner Production · doi:10.1016/j.jclepro.2016.01.103 · Cited by 138
Critical sustainability factors of regional SMEs; A case study of regional Australia
Artin, P. (2022) · Current Research in Environmental Sustainability · doi:10.1016/j.crsust.2022.100138 · Cited by 18
Metadata
- Authors
- Lo, S., & Sheu, H.
- Venue
- Corporate Governance: An International Review
- Publisher
- Wiley
- Published
- 2007-03
- Volume
- 15
- Issue
- 2
- Pages
- 345-358
- ISSN
- 0964-8410 (ISSN-L)
- 1467-8683
- OpenAlex
- W2126434683
- Cited by
- 440
- References
- 3
- FWCI
- 23.90
- Type
- journal article
- Language
- en
- Open access
- closed
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- Lo, S., & Sheu, H. (2007). Is Corporate Sustainability a Value‐Increasing Strategy for Business? Corporate Governance: An International Review. https://doi.org/10.1111/j.1467-8683.2007.00565.x
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
