Do investors value environmental sustainability? Evidence from the FTSE Environmental Opportunities 100 index

dc.contributor.authorBiktimirov, Ernest N.
dc.contributor.authorAfego, Pyemo N.
dc.contributor.emailu19408723@tuks.co.zaen_US
dc.date.accessioned2022-07-26T11:03:41Z
dc.date.issued2022-01
dc.description.abstractTo examine whether investors value environmental sustainability, we analyze stock market reactions of the firms added to or deleted from the FTSE Environmental Opportunities 100 index (FTSE EO 100). Firms added to the FTSE EO 100 that were not previously in the FTSE EO and firms removed from the FTSE EO index series altogether do not show significant stock price changes. In contrast, firms added to the FTSE EO 100 from the FTSE EO exhibit a sustained stock price gain, whereas deletions from the FTSE EO 100 that still stay in the FTSE EO show a sustained stock price decline.en_US
dc.description.departmentEconomicsen_US
dc.description.embargo2023-05-08
dc.description.librarianhj2022en_US
dc.description.urihttp://www.elsevier.com/locate/frlen_US
dc.identifier.citationBiktimirov, E.N. & Afego, P.N. 2022, 'Do investors value environmental sustainability? Evidence from the FTSE Environmental Opportunities 100 index', Finance Research Letters, vol. 44, art. 102112, pp. 1-9, doi : 10.1016/j.frl.2021.102112.en_US
dc.identifier.issn1544-6123 (print)
dc.identifier.issn1544-6131 (online)
dc.identifier.other10.1016/j.frl.2021.102112
dc.identifier.urihttps://repository.up.ac.za/handle/2263/86459
dc.language.isoenen_US
dc.publisherElsevieren_US
dc.rights© 2021 Elsevier Inc. All rights reserved. Notice : this is the author’s version of a work that was accepted for publication in Finance Research Letters. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. A definitive version was subsequently published in Finance Research Letters, vol. 44, art. 102112, pp. 1-9, 2022, doi : 10.1016/j.frl.2021.102112.en_US
dc.subjectEnvironmental sustainabilityen_US
dc.subjectFTSE EO 100 indexen_US
dc.subjectEvent studyen_US
dc.subjectAbnormal returnsen_US
dc.subjectTrading volumeen_US
dc.subjectInstitutional ownershipen_US
dc.titleDo investors value environmental sustainability? Evidence from the FTSE Environmental Opportunities 100 indexen_US
dc.typePostprint Articleen_US

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