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The Global Automotive Industry Stock Returns During the COVID-19 Pandemic

Author

Listed:
  • Jesús Dacio Villarreal Samaniego

    (Tecnológico de Parral, México)

  • Roberto Joaquín Santillán-Salgado

    (Universidad Autónoma de Nuevo León, México)

  • Luis Jacob Escobar Saldivar

    (EGADE Business School, México)

Abstract

Este estudio analiza la relación de los puntajes ESG a nivel de empresa y los rendimientos de las acciones de una base de datos mundial para la industria automotriz. Mide la importancia de la relación ESG y CFP durante la última década, e incluye una comparación de aquellas empresas con diferentes niveles de puntaje ESG, así como entre empresas con puntuaciones ESG y empresas que carecen de dichas puntuaciones. Se estiman un modelo cuasi-experimental de diferencia en diferencias (DID) y un panel de datos para examinar el impacto de las puntuaciones ESG y las puntuaciones combinadas ESG en el rendimiento de las acciones de las empresas antes y durante el período de pandemia de COVID-19. Los resultados sugieren que las acciones sostenibles durante la pandemia disminuyeron los rendimientos de las acciones, como lo indican los coeficientes negativos de las puntuaciones ESGC y ESG. Los términos de interacción con el tamaño de la empresa revelaron que los puntajes ESGC y ESG tuvieron una relación positiva con los rendimientos de las acciones durante la pandemia. Por lo tanto, los rendimientos de las empresas más grandes se beneficiaron de puntuaciones ESG más altas durante la crisis de COVID-19. La rentabilidad de las acciones de las empresas en la muestra estratificada, en el contexto de la emergencia sanitaria de la COVID-19, es una contribución original a la literatura sobre la relación ESG-CFP

Suggested Citation

  • Jesús Dacio Villarreal Samaniego & Roberto Joaquín Santillán-Salgado & Luis Jacob Escobar Saldivar, 2022. "The Global Automotive Industry Stock Returns During the COVID-19 Pandemic," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 17(4), pages 1-21, Octubre -.
    • Handle: RePEc:imx:journl:v:17:y:2022:i:4:a:13
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    References listed on IDEAS

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    More about this item

    Keywords

    Puntaje ESG; Desempeño Financiero Corporativo; Industria Automotriz; Pandemia COVID-19;
    All these keywords.

    JEL classification:

    • C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
    • C58 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Financial Econometrics
    • G01 - Financial Economics - - General - - - Financial Crises
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General

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