Does corporate environmental protection increase or decrease shareholder value? The case of environmental investments
Published in Business Strategy and the Environment • Jul 1, 2001
Authors:,
Minna Halme
Jyrki Niskanen
Abstract
Abstract This study examines share price effects of environmental investments using data from the Finnish forest industry from 1970 to 1996. The results indicate that the instantaneous market reaction is negative, and that the larger the investment, the larger the fall in prices. However, contrary t...
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