This paper examines the relationship between the corporate social disclosure (CSD) and the socially responsible investment (SRI). Particularly, the study refers to the sustainability reports of firms included in the portfolio of European socially responsible funds (SRFs) listed on the Morningstar Platform. The findings confirm that the amplitude of CSD has a positive impact on the firm’s capability to attract the interest of SRFs. Namely, the higher the breadth of the CSD, the greater the likelihood that the firm is owned by a larger number of SRFs. Moreover, given the need of a "CSR-language“ for mitigating the problem of comparability between the reports, the simultaneous adhesion to institutional initiatives for the sustainability and the social disclosure, such as the UNGC and the GRI, is positively associated with the participation of a greater number of SRFs.
The impact of corporate social disclosure on socially responsible funds
Gangi F.
2014
Abstract
This paper examines the relationship between the corporate social disclosure (CSD) and the socially responsible investment (SRI). Particularly, the study refers to the sustainability reports of firms included in the portfolio of European socially responsible funds (SRFs) listed on the Morningstar Platform. The findings confirm that the amplitude of CSD has a positive impact on the firm’s capability to attract the interest of SRFs. Namely, the higher the breadth of the CSD, the greater the likelihood that the firm is owned by a larger number of SRFs. Moreover, given the need of a "CSR-language“ for mitigating the problem of comparability between the reports, the simultaneous adhesion to institutional initiatives for the sustainability and the social disclosure, such as the UNGC and the GRI, is positively associated with the participation of a greater number of SRFs.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
