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

Biktimirov, Ernest N.; Afego, Pyemo N.

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

dc.contributor.author	Biktimirov, Ernest N.
dc.contributor.author	Afego, Pyemo N.
dc.contributor.email	u19408723@tuks.co.za	en_US
dc.date.accessioned	2022-07-26T11:03:41Z
dc.date.issued	2022-01
dc.description.abstract	To 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.department	Economics	en_US
dc.description.embargo	2023-05-08
dc.description.librarian	hj2022	en_US
dc.description.uri	http://www.elsevier.com/locate/frl	en_US
dc.identifier.citation	Biktimirov, 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.issn	1544-6123 (print)
dc.identifier.issn	1544-6131 (online)
dc.identifier.other	10.1016/j.frl.2021.102112
dc.identifier.uri	https://repository.up.ac.za/handle/2263/86459
dc.language.iso	en	en_US
dc.publisher	Elsevier	en_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.subject	Environmental sustainability	en_US
dc.subject	FTSE EO 100 index	en_US
dc.subject	Event study	en_US
dc.subject	Abnormal returns	en_US
dc.subject	Trading volume	en_US
dc.subject	Institutional ownership	en_US
dc.title	Do investors value environmental sustainability? Evidence from the FTSE Environmental Opportunities 100 index	en_US
dc.type	Postprint Article	en_US