Assessment of investment attractiveness of socially responsible listed companies
Journal Title: Zarządzanie i Finanse - Year 2015, Vol 13, Issue 1
Abstract
The purpose of this article is an attempt to find the answers to the following research questions: whether socially responsible companies listed on the Warsaw Stock Exchange are more attractive investments than other listed companies? and which companies operating under the rules of CSR should be a particular subject of interest of stock market investor? The purpose of studies was carried out by the empirical verification of research hypothesis stipulating that a synthetic measure of investment attractiveness reaches the highest value for the companies included in the portfolio of RESPECT Index. The article consists of two main parts. In the theoretical part, there were briefly discussed the essence of CSR and described the methodology for calculat- ing the taxonomic measure of investment attractiveness (TMAI). In the empirical part, scientific hypothesis was positively verified. The results confirmed that companies from RESPECT Index are more attractive investments than the other companies. Furthermore, studies showed that the most attractive are new compa- nies of RESPECT Index and the investment attractiveness of socially responsible companies decreases after a few years in the portfolio of this index.
Authors and Affiliations
Aleksandra Pieloch-Babiarz
Keywords
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