Incidence of corporate social responsibility practices on the cost of equity: evidence from Colombian companies
This study analyzes the effect of corporate social responsibility (CSR) practices on the cost of equity, for Colombian companies that are listed on the Colombian Stock Exchange (BVC, Bolsa de Valores de Colombia) and have produced sustainability reports through the Global Reporting Initiative (GRI),...
- Autores:
-
Mesa-Jurado, Leidy Tatiana
Rivera-López, Paola Andrea
Román-Buriticá, Melissa María
Correa Mejía, Diego Andrés
- Tipo de recurso:
- Fecha de publicación:
- 2020
- Institución:
- Universidad EAFIT
- Repositorio:
- Repositorio EAFIT
- Idioma:
- spa
- OAI Identifier:
- oai:repository.eafit.edu.co:10784/17635
- Acceso en línea:
- http://hdl.handle.net/10784/17635
- Palabra clave:
- Corporate social responsibility
Cost of equity
Sustainability report
Information disclosure
Responsabilidad social corporativa
Costo de patrimonio
Informes de sostenibilidad
Información no financiera
- Rights
- License
- Acceso abierto
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Medellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degrees2020-06-302020-09-04T16:41:25Z2020-06-302020-09-04T16:41:25Z1692-0279http://hdl.handle.net/10784/17635This study analyzes the effect of corporate social responsibility (CSR) practices on the cost of equity, for Colombian companies that are listed on the Colombian Stock Exchange (BVC, Bolsa de Valores de Colombia) and have produced sustainability reports through the Global Reporting Initiative (GRI), for the period 2012-2016. Using the panel data model for thirty-one companies, it was found that companies which implemented CSR practices and included them on their corporate reports reduced their cost of capital. Furthermore, it was also found that the length of the corporate report, and how unbiased it is, both reduce the cost of equity.A través de este estudio se busca identificar el efecto de las prácticas de responsabilidad social corporativa (RSC) en el costo de patrimonio de las empresas colombianas que cotizan en la Bolsa de Valores de Colombia (BVC), y que han reportado informes de sostenibilidad bajo la metodología de la Iniciativa de Reporte Global (GRI, Global Reporting Initiative) durante el periodo 2012-2016. Por medio del uso del modelo de datos de panel, en el que se consideraron treinta y una empresas, se obtuvo evidencia empírica de que en el contexto colombiano las empresas que implementan prácticas de RSC y las divulgan a través de sus reportes corporativos cuentan con un menor costo de capital. Adicionalmente, se muestra que la extensión del reporte y su independencia aportan a la reducción del costo del patrimonio.application/pdfspaUniversidad EAFIThttps://publicaciones.eafit.edu.co/index.php/administer/article/view/5324https://publicaciones.eafit.edu.co/index.php/administer/article/view/5324Copyright © 2020 Leidy Tatiana Mesa-Jurado, Paola Andrea Rivera-López, Melissa María Román-Buriticá, Diego Andrés Correa MejíaAcceso abiertohttp://purl.org/coar/access_right/c_abf2AD-minister, Núm. 36 (2020)Incidence of corporate social responsibility practices on the cost of equity: evidence from Colombian companiesIncidencia de las prácticas de responsabilidad social corporativa sobre el costo del patrimonio: evidencias en empresas colombianasarticleinfo:eu-repo/semantics/articlepublishedVersioninfo:eu-repo/semantics/publishedVersionArtículohttp://purl.org/coar/version/c_970fb48d4fbd8a85http://purl.org/coar/resource_type/c_6501http://purl.org/coar/resource_type/c_2df8fbb1Corporate social responsibilityCost of equitySustainability reportInformation disclosureResponsabilidad social corporativaCosto de patrimonioInformes de sostenibilidadInformación no financieraMesa-Jurado, Leidy TatianaRivera-López, Paola AndreaRomán-Buriticá, Melissa MaríaCorrea Mejía, Diego AndrésCentro Comercial San Nicolás PHTann Colombiana S.A.S.Blackriver Flowers S.A.S.Universidad de AntioquiaAD-minister36530THUMBNAILminiatura-administer.jpgminiatura-administer.jpgimage/jpeg8755https://repository.eafit.edu.co/bitstreams/f85dc1d2-b457-4821-a06f-b199e3ebe6fa/download87c28d32b620f3408b1c70a3c505fbd8MD51ORIGINALdocument - 2020-09-12T173858.240.pdfdocument - 2020-09-12T173858.240.pdfTexto completo PDFapplication/pdf349195https://repository.eafit.edu.co/bitstreams/02568380-bb6b-42fe-aa30-b7fcad538d19/downloadaebfce19d178f2a0731dd09ff6238a74MD52articulo - copia (2).htmlarticulo - copia (2).htmlTexto completo HTMLtext/html375https://repository.eafit.edu.co/bitstreams/1f119c9e-6b23-43f8-a8f8-e330b462e7ef/download1e47017031c9d71ea595687023c81519MD5310784/17635oai:repository.eafit.edu.co:10784/176352020-09-12 17:40:33.601open.accesshttps://repository.eafit.edu.coRepositorio Institucional Universidad EAFITrepositorio@eafit.edu.co |
| dc.title.eng.fl_str_mv |
Incidence of corporate social responsibility practices on the cost of equity: evidence from Colombian companies |
| dc.title.spa.fl_str_mv |
Incidencia de las prácticas de responsabilidad social corporativa sobre el costo del patrimonio: evidencias en empresas colombianas |
| title |
Incidence of corporate social responsibility practices on the cost of equity: evidence from Colombian companies |
| spellingShingle |
Incidence of corporate social responsibility practices on the cost of equity: evidence from Colombian companies Corporate social responsibility Cost of equity Sustainability report Information disclosure Responsabilidad social corporativa Costo de patrimonio Informes de sostenibilidad Información no financiera |
| title_short |
Incidence of corporate social responsibility practices on the cost of equity: evidence from Colombian companies |
| title_full |
Incidence of corporate social responsibility practices on the cost of equity: evidence from Colombian companies |
| title_fullStr |
Incidence of corporate social responsibility practices on the cost of equity: evidence from Colombian companies |
| title_full_unstemmed |
Incidence of corporate social responsibility practices on the cost of equity: evidence from Colombian companies |
| title_sort |
Incidence of corporate social responsibility practices on the cost of equity: evidence from Colombian companies |
| dc.creator.fl_str_mv |
Mesa-Jurado, Leidy Tatiana Rivera-López, Paola Andrea Román-Buriticá, Melissa María Correa Mejía, Diego Andrés |
| dc.contributor.author.spa.fl_str_mv |
Mesa-Jurado, Leidy Tatiana Rivera-López, Paola Andrea Román-Buriticá, Melissa María Correa Mejía, Diego Andrés |
| dc.contributor.affiliation.spa.fl_str_mv |
Centro Comercial San Nicolás PH Tann Colombiana S.A.S. Blackriver Flowers S.A.S. Universidad de Antioquia |
| dc.subject.keyword.eng.fl_str_mv |
Corporate social responsibility Cost of equity Sustainability report Information disclosure |
| topic |
Corporate social responsibility Cost of equity Sustainability report Information disclosure Responsabilidad social corporativa Costo de patrimonio Informes de sostenibilidad Información no financiera |
| dc.subject.keyword.spa.fl_str_mv |
Responsabilidad social corporativa Costo de patrimonio Informes de sostenibilidad Información no financiera |
| description |
This study analyzes the effect of corporate social responsibility (CSR) practices on the cost of equity, for Colombian companies that are listed on the Colombian Stock Exchange (BVC, Bolsa de Valores de Colombia) and have produced sustainability reports through the Global Reporting Initiative (GRI), for the period 2012-2016. Using the panel data model for thirty-one companies, it was found that companies which implemented CSR practices and included them on their corporate reports reduced their cost of capital. Furthermore, it was also found that the length of the corporate report, and how unbiased it is, both reduce the cost of equity. |
| publishDate |
2020 |
| dc.date.available.none.fl_str_mv |
2020-09-04T16:41:25Z |
| dc.date.issued.none.fl_str_mv |
2020-06-30 |
| dc.date.accessioned.none.fl_str_mv |
2020-09-04T16:41:25Z |
| dc.date.none.fl_str_mv |
2020-06-30 |
| dc.type.eng.fl_str_mv |
article info:eu-repo/semantics/article publishedVersion info:eu-repo/semantics/publishedVersion |
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http://purl.org/coar/version/c_970fb48d4fbd8a85 |
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http://purl.org/coar/resource_type/c_6501 http://purl.org/coar/resource_type/c_2df8fbb1 |
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Artículo |
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publishedVersion |
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1692-0279 |
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http://hdl.handle.net/10784/17635 |
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1692-0279 |
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spa |
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spa |
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https://publicaciones.eafit.edu.co/index.php/administer/article/view/5324 |
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https://publicaciones.eafit.edu.co/index.php/administer/article/view/5324 |
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Acceso abierto |
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application/pdf |
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Medellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degrees |
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Universidad EAFIT |
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AD-minister, Núm. 36 (2020) |
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Universidad EAFIT |
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