Documents disponibles écrits par cet auteur

An empirical investigation of environmental performance and the market value of the firm / Brian W. Jacobs in Journal of operations management, Vol. 28 N° 5 (Septembre 2010) 

Public ISBD [article]  in Journal of operations management > Vol. 28 N° 5 (Septembre 2010) . - pp. 430–441 Titre : An empirical investigation of environmental performance and the market value of the firm Type de document : texte imprimé Auteurs : Brian W. Jacobs, Auteur ; Vinod R. Singhal, Auteur ; Ravi Subramanian, Auteur Année de publication : 2011 Article en page(s) : pp. 430–441 Note générale : Génie Industriel Langues : Anglais (eng) Mots-clés : Market  value  Environmental  performance  Environmental  initiatives  Awards  Certifications  Stock  market  reaction Résumé : This paper analyzes the shareholder value effects of environmental performance by measuring the stock market reaction associated with announcements of environmental performance. We examine the market reaction to two categories of environmental performance. The first category includes 417 announcements of Corporate Environmental Initiatives (CEIs) that provide information about self-reported corporate efforts to avoid, mitigate, or offset the environmental impacts of the firm's products, services, or processes. The second category includes 363 announcements of Environmental Awards and Certifications (EACs) that provide information about recognition granted by third-parties specifically for environmental performance. Although the market does not react significantly to the aggregated CEI and EAC announcements, we find statistically significant market reactions for certain CEI and EAC subcategories. Specifically, announcements of philanthropic gifts for environmental causes are associated with significant positive market reaction, voluntary emission reductions are associated with significant negative market reaction, and ISO 14001 certifications are associated with significant positive market reaction. The difference between the market reactions to the CEI and EAC categories is statistically insignificant. Overall, the market is selective in reacting to announcements of environmental performance with certain types of announcements even valued negatively. DEWEY : 658.57 ISSN : 0272-6963 En ligne : http://www.sciencedirect.com/science/article/pii/S0272696310000033 [article] An empirical investigation of environmental performance and the market value of the firm [texte imprimé] / Brian W. Jacobs, Auteur ; Vinod R. Singhal, Auteur ; Ravi Subramanian, Auteur . - 2011 . - pp. 430–441. Génie Industriel Langues : Anglais (eng) in Journal of operations management > Vol. 28 N° 5 (Septembre 2010) . - pp. 430–441 Mots-clés : Market  value  Environmental  performance  Environmental  initiatives  Awards  Certifications  Stock  market  reaction Résumé : This paper analyzes the shareholder value effects of environmental performance by measuring the stock market reaction associated with announcements of environmental performance. We examine the market reaction to two categories of environmental performance. The first category includes 417 announcements of Corporate Environmental Initiatives (CEIs) that provide information about self-reported corporate efforts to avoid, mitigate, or offset the environmental impacts of the firm's products, services, or processes. The second category includes 363 announcements of Environmental Awards and Certifications (EACs) that provide information about recognition granted by third-parties specifically for environmental performance. Although the market does not react significantly to the aggregated CEI and EAC announcements, we find statistically significant market reactions for certain CEI and EAC subcategories. Specifically, announcements of philanthropic gifts for environmental causes are associated with significant positive market reaction, voluntary emission reductions are associated with significant negative market reaction, and ISO 14001 certifications are associated with significant positive market reaction. The difference between the market reactions to the CEI and EAC categories is statistically insignificant. Overall, the market is selective in reacting to announcements of environmental performance with certain types of announcements even valued negatively. DEWEY : 658.57 ISSN : 0272-6963 En ligne : http://www.sciencedirect.com/science/article/pii/S0272696310000033