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> The convergence between sustainability and conventional stock indices. Are we on the right track?
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The convergence between sustainability and conventional stock indices. Are we on the right track?
Vilas P.
(Universidad de Zaragoza)
;
Andreu L.
(Universidad de Zaragoza)
;
Sarto J.L.
(Universidad de Zaragoza)
Resumen:
The growth of passive and socially responsible (SR) investment makes that sustainability indices play an important role in defining what constitutes a sustainable investment. In order to know the suitability of sustainability indices as benchmarks for SR investors, we used different linear regressions to compare the compositions of sustainability indices and their conventional counterparts and to compare the levels of corporate social responsibility (CSR) of both types of indices. We showed that the composition of sustainability indices gradually converged towards their conventional peers. Moreover, the difference between the CSR levels of both type of indices remained the same or even decreased over time. We concluded that a change in the weighting method of sustainability indices such as the equally weighted criterion would significantly increase the difference from their conventional counterparts. However, due to the relationship between CSR and size, this change would penalize the CSR level of the index. These results raise the question of whether SR passive investors will be able to meet their non-financial expectations as a consequence of the convergence. © 2021 by the authors. Licensee MDPI, Basel, Switzerland.
Idioma:
Inglés
DOI:
10.3390/su13147613
Año:
2021
Publicado en:
Sustainability (Switzerland)
13, 14 (2021), 76136 [11 pp]
ISSN:
2071-1050
Factor impacto JCR:
3.889 (2021)
Categ. JCR:
ENVIRONMENTAL STUDIES
rank: 57 / 128 = 0.445
(2021)
- Q2
- T2
Categ. JCR:
ENVIRONMENTAL SCIENCES
rank: 133 / 279 = 0.477
(2021)
- Q2
- T2
Categ. JCR:
GREEN & SUSTAINABLE SCIENCE & TECHNOLOGY
rank: 35 / 47 = 0.745
(2021)
- Q3
- T3
Categ. JCR:
GREEN & SUSTAINABLE SCIENCE & TECHNOLOGY
rank: 7 / 9 = 0.778
(2021)
- Q4
- T3
Factor impacto CITESCORE:
5.0 -
Social Sciences
(Q1) -
Engineering
(Q1) -
Energy
(Q2) -
Environmental Science
(Q2)
Factor impacto SCIMAGO:
0.664 -
Energy Engineering and Power Technology
(Q1) -
Renewable Energy, Sustainability and the Environment
(Q1) -
Management, Monitoring, Policy and Law
(Q1) -
Geography, Planning and Development
(Q1)
Tipo y forma:
Artículo (Versión definitiva)
Área (Departamento):
Área Economía Finan. y Contab.
(
Dpto. Contabilidad y Finanzas
)
Debe reconocer adecuadamente la autoría, proporcionar un enlace a la licencia e indicar si se han realizado cambios. Puede hacerlo de cualquier manera razonable, pero no de una manera que sugiera que tiene el apoyo del licenciador o lo recibe por el uso que hace.
Exportado de SIDERAL (2023-05-18-15:32:20)
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Registro creado el 2022-09-14, última modificación el 2023-05-19
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