Does the Stock Market Value the Inclusion in a Sustainability Stock Index? An Event Study Analysis for German Firms

This paper empirically analyzes the effect of the inclusion of German corporations in the Dow Jones STOXX Sustainability Index (DJSI STOXX) and the Dow Jones Sustainability World Index (DJSI World) on stock performance. In order to receive robust estimation results, we apply an event study approach...

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Bibliographic Details

Published in:	MAGKS - Joint Discussion Paper Series in Economics (Band 30-2011)
Main Authors:	Oberndorfer, Ulrich, Wagner, Marcus, Ziegler, Andreas
Format:	Work
Language:	English
Published:	2011
Subjects:	Sustainability stock indexes Wirtschaft Event study GARCH model Corporate financial performance Three-factor model Economics
Online Access:	PDF Full Text
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