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Ranking corporations based on sustainable and socially responsible practices. A data envelopment analysis (DEA) approach

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  • Constantin Belu

Abstract

This study ranks publicly listed corporations based on social and environmental (i.e. sustainable) achievements in relation to financial results, by using a data envelopment analysis (DEA) approach with financial performance indicators (return on assets, return on equity and yearly stock return) as inputs and sustainability scores as outputs. The sustainability scores cover a wide range of sustainable practices and were provided by a specialized screening company. Our calculated DEA indices provide a measure of the commitment of firms towards sustainable practices. The main findings are that many companies are positioned well below best practice in their respective industries. Industry sectors that are less scrutinized by the public (e.g. banking) are found to be less competitive in terms of sustainable practices. Copyright © 2009 John Wiley & Sons, Ltd and ERP Environment.

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File URL: http://hdl.handle.net/10.1002/sd.390
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Bibliographic Info

Article provided by John Wiley & Sons, Ltd. in its journal Sustainable Development.

Volume (Year): 17 (2009)
Issue (Month): 4 ()
Pages: 257-268

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Handle: RePEc:wly:sustdv:v:17:y:2009:i:4:p:257-268

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Web page: http://onlinelibrary.wiley.com/journal/10.1002/(ISSN)1099-1719

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  1. Abagail McWilliams & Donald S. Siegel & Patrick M. Wright, 2006. "Corporate Social Responsibility: International Perspectives," Rensselaer Working Papers in Economics 0604, Rensselaer Polytechnic Institute, Department of Economics.
  2. Leopold Simar & Paul Wilson, 2000. "A general methodology for bootstrapping in non-parametric frontier models," Journal of Applied Statistics, Taylor & Francis Journals, vol. 27(6), pages 779-802.
  3. Cerin, Pontus & Dobers, Peter, 2001. "What does the performance of the Dow Jones Sustainability Group Index tell us?," Sustainable Investment and Corporate Governance Working Papers 2001/1, Sustainable Investment Research Platform.
  4. Estellita Lins, M.P. & Moreira da Silva, A.C. & Lovell, C.A.K., 2007. "Avoiding infeasibility in DEA models with weight restrictions," European Journal of Operational Research, Elsevier, vol. 181(2), pages 956-966, September.
  5. Hamilton James T., 1995. "Pollution as News: Media and Stock Market Reactions to the Toxics Release Inventory Data," Journal of Environmental Economics and Management, Elsevier, vol. 28(1), pages 98-113, January.
  6. R. D. Banker & A. Charnes & W. W. Cooper, 1984. "Some Models for Estimating Technical and Scale Inefficiencies in Data Envelopment Analysis," Management Science, INFORMS, vol. 30(9), pages 1078-1092, September.
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Cited by:
  1. Jean-Michel Sahuta & Sandrine Boulerne & Medhi Mili & Frédéric Teulon, 2014. "What Relation Exists Between Corporate Social Responsibility (Csr) And Longevity Of Firms?," Working Papers 2014-248, Department of Research, Ipag Business School.
  2. Hélène Pasquini-Descomps & Frédéric Teulon, 2014. "What is the perception of corporate social responsibility for fund managers in Switzerland?," Working Papers 2014-097, Department of Research, Ipag Business School.

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