ESG issues in the palm oil investments : an event study on the listed palm oil companies in Singapore, Indonesia, and Malaysia

Erian, Nanda (2016) ESG issues in the palm oil investments : an event study on the listed palm oil companies in Singapore, Indonesia, and Malaysia.

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Abstract:We present the analysis of the impact of the Environmental, Social, and Governance (ESG) issues on the stock return of the listed palm oil companies in Singapore, Indonesia, and Malaysia using the event study framework. In this research, the chosen model to calculate the normal return on the initial assessment is the market model, while the constant mean return model is used as the reliability test. The main events analyzed in this research are divided into three main groups, which are the haze crisis in 2015, the ESG issues reports, and the ESG commitment reports. Eventually, the statistical conclusion of our assessment on the haze crisis in 2015 shows a significant negative impact to the stock return, which is also in line with the reported news regarding the events. For the ESG issues reports, we also have the evidence of the negative impact, but it is relatively low and on the significance level of 10%. Then, we do not have evidence to show the impact of the ESG commitment reports.
Item Type:Essay (Master)
Clients:
Profundo, Amsterdam, The Netherlands
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:83 economics, 85 business administration, organizational science
Programme:Industrial Engineering and Management MSc (60029)
Link to this item:http://purl.utwente.nl/essays/69102
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