Abstract
ABSTRACT This article examines the impact of the Dow Jones Sustainability Index (DJSI) announcements that are prepared annually by RobecoSAM on the market value of Colombian firms. The analysis of 77 events and their impact on 13 firms for the 2009-2018 period found that DJSI-related events lead to insignificantly abnormal returns being generated for shareholders. The study suggests that this happens because Colombian companies do not widely disclose these types of event.
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