DC FieldValueLanguage
dc.contributor.authorSepetis, Anastasios-
dc.contributor.authorHalkos, George-
dc.date.accessioned2024-04-15T08:00:30Z-
dc.date.available2024-04-15T08:00:30Z-
dc.date.issued2007-08-01-
dc.identifierscopus-34250206679-
dc.identifier.issn0921-8009-
dc.identifier.other34250206679-
dc.identifier.urihttps://uniwacris.uniwa.gr/handle/3000/2019-
dc.description.abstractIn this study we attempt to evaluate the stock value of Greek firms, which apply systems of environmental management in the light of systemic risk. Risk is examined empirically with the help of conditional volatility models of investment in environmental friendly firms. The empirical analysis relies on financial econometric models, which determine the underlying conditional volatility. We find that improved environmental management system and environmental performance result in reductions in firms' beta. Specifically, our empirical estimates show evidence of volatility clustering, short- and long-run persistence of shocks to the returns of the market and asymmetry in the leverage effect between negative and positive shocks to returns. Finally, the macroeconomic factors proposed and included in the analysis have no statistical significant influence on the beta estimates in almost all cases.en_US
dc.language.isoenen_US
dc.relation.ispartofEcological Economicsen_US
dc.subjectCapital marketen_US
dc.subjectEnvironmental managementen_US
dc.subjectSystematic risken_US
dc.subjectTGARCHen_US
dc.titleCan capital markets respond to environmental policy of firms? Evidence from Greeceen_US
dc.typeArticleen_US
dc.identifier.doi10.1016/j.ecolecon.2006.12.015en_US
dc.identifier.scopus2-s2.0-34250206679-
dcterms.accessRights0en_US
dc.relation.deptDepartment of Business Administrationen_US
dc.relation.facultySchool of Administrative, Economics and Social Sciencesen_US
dc.relation.volume63en_US
dc.relation.issue2-3en_US
dc.identifier.spage578en_US
dc.identifier.epage587en_US
dc.collaborationUniversity of West Attica (UNIWA)en_US
dc.subject.fieldSocial Sciencesen_US
dc.journalsSubscriptionen_US
dc.publicationPeer Revieweden_US
dc.countryGreeceen_US
local.metadatastatusverifieden_US
item.cerifentitytypePublications-
item.languageiso639-1en-
item.openairetypeArticle-
item.openairecristypehttp://purl.org/coar/resource_type/c_18cf-
item.fulltextNo Fulltext-
item.grantfulltextnone-
crisitem.author.deptDepartment of Business Administration-
crisitem.author.facultySchool of Administrative, Economics and Social Sciences-
crisitem.author.orcid0000-0002-8882-7242-
crisitem.author.parentorgSchool of Administrative, Economics and Social Sciences-
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