Henry Mynhardt
-
2 publications
-
363 downloads
-
1326 views
- 1053 Views
-
0 books
-
Standardization of sustainability reporting: rationale for better investment decision-making
Public and Municipal Finance Volume 6, 2017 Issue #2 pp. 7-15
Views: 2273 Downloads: 331 TO CITE АНОТАЦІЯThe role of sustainability reporting in investment decision-making is not clear and obvious. Despite the steady increase of such statements in corporate annual reports, the relationship between the sustainability reporting and the financial performance of companies is not always positive. The main problems of sustainability reporting nowadays are insufficient comparability of reporting, accuracy (lack of materiality, reliability and validity of indicators), lack of common approaches for its verification.
Synthesis of standardization and regulation features of sustainability reporting, which is provided in this paper in different dimensions (countries, regulators standards), allows to identify long-term trends of this reporting to ensure its quality during investment decision-making in traditional and responsible financial markets.
-
Market efficiency of traditional stock market indices and social responsible indices: the role of sustainability reporting
Investment Management and Financial Innovations Volume 14, 2017 Issue #2 pp. 94-106
Views: 1564 Downloads: 619 TO CITE АНОТАЦІЯCorporate social responsibility, disclosed in sustainability reporting, influences the financial performance of companies. As a result, traditional stock market indices (TI) are expanded with the social responsible stock market indices (SRI). The aim of this study was to establish whether there are any differences in the behavior of the TI and SRI. To do this, the authors analyzed their efficiency. They used R/S analysis to calculate the Hurst exponent as a measure of persistence (long-term memory property). The presence of persistence was evidence in favor of less efficiency. According to empirical results, SRI has lower efficiency, in particular the Dow Jones Sustainability Index. Lower efficiency was also observed in the emerging markets with a responsible investment segment, compared to the traditional stock market indices. Further standardization and a common methodological approach to corporate sustainability reporting disclosure are proposed.