Articles producció científica> Gestió d'Empreses

Climate change and stock returns in the european market: An environmental intensity approach

  • Dades identificatives

    Identificador: imarina:9329491
    Autors:
    Barbera-Marin, MGFabregat-Aibar, LNeumann-Calafell, AMTerceno, A
    Resum:
    Climate change has become a risk that companies, governments and stakeholders must consider. Climate risk affects everything from people's health to the performance of companies. The European Union has approved various legislations and action plans to counteract the effects of climate change in a pioneering strategy. Companies can play a critical role in mitigating climate change and creating a more sustainable future by integrating environmental considerations into their decision-making processes. However, this integration may impact their performance. This paper aims to analyse the effect of climate change on the stock returns of European companies. The study sample consists of 265 companies listed in the Stoxx 600 index between 2015 and 2021 and the methodology used is the econometric method for panel data. The results show that carbon emissions have a negative effect on the performance of companies. Oppositely, a good rating in the environmental pillar has a positive impact on returns.
  • Altres:

    Autor segons l'article: Barbera-Marin, MG; Fabregat-Aibar, L; Neumann-Calafell, AM; Terceno, A
    Departament: Gestió d'Empreses
    Autor/s de la URV: Barberà Mariné, Maria Glòria / Fabregat Aibar, Laura / Neumann Calafell, Andreu Michael / Terceño Gómez, Antonio
    Paraules clau: European financial market Emissions Climate risk Climate change Carbon intensity
    Resum: Climate change has become a risk that companies, governments and stakeholders must consider. Climate risk affects everything from people's health to the performance of companies. The European Union has approved various legislations and action plans to counteract the effects of climate change in a pioneering strategy. Companies can play a critical role in mitigating climate change and creating a more sustainable future by integrating environmental considerations into their decision-making processes. However, this integration may impact their performance. This paper aims to analyse the effect of climate change on the stock returns of European companies. The study sample consists of 265 companies listed in the Stoxx 600 index between 2015 and 2021 and the methodology used is the econometric method for panel data. The results show that carbon emissions have a negative effect on the performance of companies. Oppositely, a good rating in the environmental pillar has a positive impact on returns.
    Àrees temàtiques: Zootecnia / recursos pesqueiros Waste management and disposal Saúde coletiva Química Psicología Planejamento urbano e regional / demografia Medicine (miscellaneous) Medicina veterinaria Medicina ii Medicina i Materiais Matemática / probabilidade e estatística Management, monitoring, policy and law Interdisciplinar Geografía Geociências General medicine Farmacia Environmental sciences Environmental engineering Ensino Engenharias iii Engenharias ii Engenharias i Ciências biológicas iii Ciências biológicas ii Ciências biológicas i Ciências ambientais Ciências agrárias i Ciência de alimentos Ciência da computação Biotecnología Biodiversidade Astronomia / física Arquitetura e urbanismo Administração pública e de empresas, ciências contábeis e turismo
    Accès a la llicència d'ús: https://creativecommons.org/licenses/by/3.0/es/
    Adreça de correu electrònic de l'autor: andreumichael.neumann@urv.cat laura.fabregat@urv.cat gloria.barbera@urv.cat gloria.barbera@urv.cat antonio.terceno@urv.cat antonio.terceno@urv.cat
    Identificador de l'autor: 0000-0002-0077-161X 0000-0003-2578-1301 0000-0003-2578-1301 0000-0001-5348-8837 0000-0001-5348-8837
    Data d'alta del registre: 2024-08-03
    Versió de l'article dipositat: info:eu-repo/semantics/publishedVersion
    URL Document de llicència: https://repositori.urv.cat/ca/proteccio-de-dades/
    Referència a l'article segons font original: Journal Of Environmental Management. 345 118927-118927
    Referència de l'ítem segons les normes APA: Barbera-Marin, MG; Fabregat-Aibar, L; Neumann-Calafell, AM; Terceno, A (2023). Climate change and stock returns in the european market: An environmental intensity approach. Journal Of Environmental Management, 345(), 118927-118927. DOI: 10.1016/j.jenvman.2023.118927
    DOI de l'article: 10.1016/j.jenvman.2023.118927
    Entitat: Universitat Rovira i Virgili
    Any de publicació de la revista: 2023
    Tipus de publicació: Journal Publications
  • Paraules clau:

    Environmental Engineering,Environmental Sciences,Management, Monitoring, Policy and Law,Medicine (Miscellaneous),Waste Management and Disposal
    European financial market
    Emissions
    Climate risk
    Climate change
    Carbon intensity
    Zootecnia / recursos pesqueiros
    Waste management and disposal
    Saúde coletiva
    Química
    Psicología
    Planejamento urbano e regional / demografia
    Medicine (miscellaneous)
    Medicina veterinaria
    Medicina ii
    Medicina i
    Materiais
    Matemática / probabilidade e estatística
    Management, monitoring, policy and law
    Interdisciplinar
    Geografía
    Geociências
    General medicine
    Farmacia
    Environmental sciences
    Environmental engineering
    Ensino
    Engenharias iii
    Engenharias ii
    Engenharias i
    Ciências biológicas iii
    Ciências biológicas ii
    Ciências biológicas i
    Ciências ambientais
    Ciências agrárias i
    Ciência de alimentos
    Ciência da computação
    Biotecnología
    Biodiversidade
    Astronomia / física
    Arquitetura e urbanismo
    Administração pública e de empresas, ciências contábeis e turismo
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