文章基本信息

标题：Are Changes in Extra-financial Ratings a (Un) Sustainable Source of Abnormal Returns
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作者：Najim Abd Aliwie Al Karaawy ; Qassim Mohammed Abdullah Al Baaj
期刊名称：Academy of Accounting and Financial Studies Journal
印刷版ISSN：1096-3685
出版年度：2018
卷号：22
期号：1
页码：1-8
语种：English
出版社：The DreamCatchers Group, LLC
摘要：Although the concept of responsible investing (hereafter RI) originated in the US in the 17th century with the Quaker religious movement, it did not take hold institutionally until the late 1920s, when the first “ethical” investment funds were created. The movement started gaining notable popularity during the second half of the 1990s. In Canada, the RI market has experienced rapid growth in recent years. According to the 2015 Canadian Responsible Investment Trends Report published by the Responsible Investment Association, Canadian RI assets account for 31% of total assets under management, while they represent only 18% of assets in the US. The growing awareness of the importance of RI is particularly remarkable among institutional investors, including pension funds..
关键词：Corporate Social Responsibility;ESG Rating;Abnormal Returns;Conditional Model;Extra-Financial Risk Premium