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Ocena atrakcyjnosci inwestycji w akcje spolek spolecznie odpowiedzialnych na podstawie indeksu RECPECT / An Assessment of the Attractiveness of Investments in the Shares of Socially Responsible Businesses Based on the RESPECT Index

Author

Listed:
  • Urszula Gołaszewska-Kaczan

    (University of Bialystok , Poland)

  • Jarosław Kilon

    (Bialystok University of Technology, Poland)

  • Jacek Marcinkiewicz

    (University of Bialystok , Poland)

Abstract

In both theory and practice, it is emphasised that engaging in CSR actions brings many benefits to companies. One of the commonly listed advantages is more trust from investors, which enables the achievement of superior returns from securities issued by socially responsible firms. The paper endeavours to investigate whether this benefit can be also noticed among businesses in the Polish index of socially responsible companies RESPECT. The study involves firms included in the RESPECT index from its inception (November 2011) to the end of 2015. The authors compared the RESPECT index with selected Polish market indices between 2009 and 2015. Empirical studies, based on an analysis of returns, risk, dividend yields and shareholder structure, facilitated the assessment of the attractiveness of investments in the shares of socially responsible businesses against the background of other firms quoted on the Warsaw Stock Exchange.

Suggested Citation

  • Urszula Gołaszewska-Kaczan & Jarosław Kilon & Jacek Marcinkiewicz, 2016. "Ocena atrakcyjnosci inwestycji w akcje spolek spolecznie odpowiedzialnych na podstawie indeksu RECPECT / An Assessment of the Attractiveness of Investments in the Shares of Socially Responsible Busine," Annales. Ethics in Economic Life, University of Lodz, Faculty of Economics and Sociology, vol. 19(3), pages 113-127, September.
    • Handle: RePEc:ann:journl:v:19:y:2016:i:3:p:113-127
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    References listed on IDEAS

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    More about this item

    Keywords

    Corporate Social Responsibility; RESPECT index; Warsaw Stock Exchange;
    All these keywords.

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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