000			01928nab a2200229 a 4500
999			_c199480 _d199480
003			OSt
005			20200226102033.0
008			191218s20162015xxu||||| |||| 00| 0 eng d
040			_aCO-BoUGC _cCO-BoUGC
100	1		_aKhan, Mozaffar _9177720
245	1	0	_aCorporate sustainability _bfirst evidence on materiality _cMozaffar Khan, George Serafeim & Aaron Yoon
300			_aPáginas 1697 a la 1724
520	3		_aUsing newly available materiality classifications of sustainability topics, we develop a novel dataset by hand-mapping sustainability investments classified as material for each industry into firm-specific sustainability ratings. This allows us to present new evidence on the value implications of sustainability investments. Using both calendar-time portfolio stock return regressions and firm-level panel regressions, we find that firms with good ratings on material sustainability issues significantly outperform firms with poor ratings on these issues. In contrast, firms with good ratings on immaterial sustainability issues do not significantly outperform firms with poor ratings on the same issues. These results are confirmed when we analyze future changes in accounting performance. The results have implications for asset managers who have committed to the integration of sustainability factors in their capital allocation decisions.
650	1	4	_991036 _aContabilidad _vPublicaciones seriadas
650	2	4	_9176853 _aFinanzas corporativas _vPublicaciones seriadas
650	2	4	_aResponsabilidad social empresarial _vPublicaciones seriadas _9177870
650	2	4	_9137181 _aAdministración de empresas _vPublicaciones seriadas
700	1		_aSerafeim, George _9176270
700	1		_aYoon, Aaron _9177871
773	0		_082265 _9374973 _aThe accounting review 2016 V.91 No.6 (Nov) _o0000002032091 _x0001-4826 (papel) _h28 páginas _nIncluye figuras, tablas, referencias bibliográficas y apéndices
942			_2ddc _cART