Publications des institutions partenaires
CRESS 2011/2012: Corporate Real Estate and Sustainability Survey
Institution partenaire
Deutsch / 01/01/2012
Two dimensions of corporate sustainability assessment: towards a comprehensive framework
Over the last years, many approaches have emerged that attempt to measure the contribution of firms to sustainable development, i.e. corporate sustainability. Our review of existing methodologies for the assessment of corporate sustainability reveals two major shortcomings. First, value creation as a core condition for sustainability as well as for further contributions to economic…
Institution partenaire
English / 01/01/2012
Corporate Citizenship und Corporate Governance: Ein Ansatz zur Behebung des Legitimitätsdefizits der Corporate Political Activities von multinationalen Unternehmen
Institution partenaire
Deutsch / 01/01/2012
Is Socially Responsible Investing Really Beneficial? New Empirical Evidence for the US and European Stock Market
Institution partenaire
English / 01/01/2012
Nachhaltigkeit und Wertermittlung von Immobilien, Leitfaden für Deutschland, Österreich und die Schweiz (NUWEL)
Institution partenaire
Deutsch / 01/12/2011
The informational contents of announcements on verified emissions in the EU ETS - An empirical investigation using a multi-country event study approach
Empirical studies on the relation of the European Union Emissions Trading Scheme (EU ETS)
and its impact on stock prices of affected companies concentrate so far mostly on the mechanism
between emissions allowance (EUA) price and stock returns. This study in contrast examines the
relation of stock returns and the announcement on verified emissions (VE). We use event…
Institution partenaire
English / 09/06/2011
Nachhaltigkeit lohnt sich auch finanziell
Nachhaltigkeit ist heute in aller Munde. Der Trend hat auch die Immobilienbranche erfasst, die in der Schweiz einen eigentlichen Minergie-Boom erlebt. Was aber ist Nachhaltiges Bauen, was eine Nachhaltige Immobilie? Zahlt sich Nachhaltigkeit finanziell aus? Und wie kann Nachhaltigkeit in der Praxis gemessen und bewertet werden?
Institution partenaire
Deutsch / 10/03/2011
Does the stock market value the inclusion in a sustainability stock index? An event study analysis for German firms
This paper empirically analyzes the effect of the inclusion of German corporations in the Dow Jones STOXX Sustainability Index (DJSI STOXX) and the Dow Jones Sustainability World Index (DJSI World) on stock performance. In order to receive robust estimation results, we apply an event study approach that is based on both a modern asset pricing model, namely the three-factor model…
Institution partenaire
English / 01/01/2011
Corporate Real Estate and Sustainability Survey : Betriebsimmobilien und Nachhaltigkeit in der Schweiz
Institution partenaire
Deutsch / 01/11/2010
Corporate Real Estate and Sustainability Survey : Coroporate Real Estate and Sustainability in Switzerland
Institution partenaire
English / 01/11/2010
Incomplete Observations and Constructed Relevance: A Framework for the Assessment and Management of Corporate Sustainability
In this paper I argue that the assessment and management of corporate sustainability potentially runs the risk of severe biases due to the application of inadequate criteria. Firstly, present praxis as well as theory of corporate sustainability assessment tend to not distinguish between structural and performance related features relevant for corporate sustainability. Secondly, the…
Institution partenaire
English / 17/09/2010
Politicited Corporations and Legitimacy Gaps: Challenges for Corporate Governance
Beyond national peculiarities, corporate governance practice is mainly centered on the protection of investors’ rights. However, this view neglects the fundamental changes of the operating conditions of business due to globalization and the weakening of regulatory frameworks. Weak or absent enforcement of contracts, increasingly unfettered negative externalities of corporate action,…
Institution partenaire
English / 11/09/2010
Lohnt sich Nachhaltigkeit auch finanziell?
Nachhaltigkeit ist heute in aller Munde. Der Trend hat auch die Immobilienbranche erfasst, wo wir in der Schweiz einen eigentlichen Minergie-Boom erleben: Die Zahl der Minergie-Gebäude hat sich in den letzten fünf Jahren verdreifacht. Aus Investorensicht lautet die zentrale Frage: Lohnt sich Nachhaltigkeit auch finanziell?
Institution partenaire
Deutsch / 01/09/2010
Globalization and the political role of the firm: Implications for corporate governance
Present-day discussions of corporate Governance is mainly centered on finance-related issues and the relation of shareholders and management. However, this view neglects the fundamental changes of the operating conditions of business due to globalization and the weakening of regulatory frameworks, not only changing the role of business, rendering it a political actor in part.…
Institution partenaire
English / 10/08/2010
Closing the Legitimacy Gap in Corporate Governance: Governing the Multinational Corporation by Means of Democratic Decision Making
Beyond national peculiarities, corporate governance practice is mainly centered on the protection of investors’ rights. However, this view neglects the fundamental changes of the operating conditions of business due to globalization and the weakening of regulatory frameworks. Weak or absent enforcement of contracts, increasingly unfettered negative externalities of corporate action,…
Institution partenaire
English / 03/07/2010
Nachhaltigkeit: Herausforderung für die Immobilienwirtschaft
Nachhaltigkeit ist heute in aller Munde. Der Trend hat auch die Immobilienbranche erfasst, die in der Schweiz einen eigentlichen Minergie-Boom erlebt. Staatlich wird Nachhaltigkeit gefordert (Aktionsplan Nachhaltige Entwicklung des Bundes) und teils gefördert, so etwa durch das nationale Gebäudeprogramm oder kantonale Fördergelder. Dabei wird implizit davon ausgegangen, dass sich…
Institution partenaire
Deutsch / 01/07/2010
Sustainability and property valuation: a risk-based approach
The proportion of sustainable property in the total building stock remains small. One reason is that the financial added value resulting from sustainability is not sufficiently taken into account in property valuation due to the tendency of valuations to lag behind market trends. This article presents the development of a new approach that attempts to provide the quantitative…
Institution partenaire
English / 01/05/2010
On the self-interested use of equity in international climate negotiations
We discuss self-interested uses of equity arguments in international climate negotiations. Using unique data from a world-wide survey of agents involved in international
climate policy, we show that the perceived support of different equity rules by regions may be explained by the ranking of their economic costs. Despite being self-interested, equity arguments may be perceived…
Institution partenaire
Deutsch / 01/04/2010
Der Minergie-Boom unter der Lupe : Eine Marktanalyse der ZKB
Der Minergie-Standard ist seit der Lancierung 1998 auf erfolgreichem Kurs. Insgesamt wurden bisher rund 15 000 Gebäude nach Minergie, Minergie-P oder Minergie-Eco gebaut oder modernisiert. Damit hat Minergie im internationalen Vergleich die Nase vorn: Mit 15 Prozent Anteil am Neubau ist Minergie weltweit das wohl am besten umgesetzte Energie- oder Nachhaltigkeitslabel. Vor diesem…
Institution partenaire
Deutsch / 01/03/2010
What determines the inclusion in a sustainability stock index? A panel data analysis for European firms
This paper empirically examines the determinants of the inclusion of European firms in the Dow Jones Sustainability World Index and the Dow Jones Stoxx Sustainability Index. While a restricted econometric analysis implies a positive effect of corporate financial performance, this impact becomes ambiguous in more flexible panel probit models. Our estimation results therefore…
Institution partenaire
English / 15/02/2010
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