Relationship of market capitalization of the IBEX 35 to corporate social responsibility and transparency

This paper seeks to determine whether the economic‐financial performance and value of the companies composing the IBEX 35 are related to the transparency with which these companies publish their economic and social data. Our goal is ultimately to establish the degree (if any) to which Spain's l...

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Bibliographic Details
Published in:Corporate social-responsibility and environmental management 2024-07, Vol.31 (4), p.3551-3572
Main Authors: Quesada, Cristóbal Parra, Espada, Manuela Cañizares
Format: Article
Language:English
Subjects:
corporate social responsibility
Economics
Financial performance
IBEX 35
observatory on corporate social responsibility
Performance indices
Social responsibility
Transparency
transparency international Spain
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Summary:This paper seeks to determine whether the economic‐financial performance and value of the companies composing the IBEX 35 are related to the transparency with which these companies publish their economic and social data. Our goal is ultimately to establish the degree (if any) to which Spain's largest listed companies' commitments to transparency and CSR are related to their market capitalization volumes. We also evaluate the effectiveness—relative to the economic data and to each other—of the transparency and Corporate Social Responsibility (CSR) rankings prepared by Transparency International Spain and the Corporate Social Responsibility Observatory. The results indicate a high correlation of market capitalization to the transparency and CSR indexes, and a positive evaluation of using these tools for future lines of research in Spain.
ISSN:1535-3958
1535-3966
DOI:10.1002/csr.2758