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Análisis del impacto de las controversias por factores ASG en la valuación de acciones en el mercado mexicano

Author

Listed:
  • Martha Angélica León Alvarado

    (EGADE Business School, Tecnológico de Monterrey, Mexico)

  • Eric Osio Cerón

    (Grenoble Ecole de Management, Francia)

  • Anahi Montserrat Revilla Antonio

    (Universidad Nacional Autónoma de México (UNAM), Mexico)

Abstract

Existe una amplia literatura sobre las motivaciones que llevan a diversos inversionistas a integrar factores ambientales, sociales y de gobierno corporativo (ASG) en sus estrategias; sin embargo, los estudios sobre esta temática se centran en los mercados desarrollados y no detallan con evidencia si estos factores, a través de las potenciales controversias que generan en su ausencia, tienen efectos significativos en la valoración de instrumentos financieros, por ej., acciones o bonos emitidos por empresas. Por esta razón, el presente estudio analiza y demuestra con evidencia estadística que las controversias asociadas a factores ASG y relacionadas con las acciones en el mercado mexicano aún no se encuentran integradas en las valuaciones correspondientes.

Suggested Citation

  • Martha Angélica León Alvarado & Eric Osio Cerón & Anahi Montserrat Revilla Antonio, 2024. "Análisis del impacto de las controversias por factores ASG en la valuación de acciones en el mercado mexicano," The Anahuac Journal, Business and Economics School. Anahuac University (Mexico)., vol. 24(1), pages 38-63, June.
    • Handle: RePEc:amj:journl:v:24:y:2024:i:1:p:38-63
    DOI: https://doi.org/10.36105/theanahuacjour.2024v24n1.02
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    References listed on IDEAS

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    1. Philipp Krueger & Zacharias Sautner & Laura T Starks, 2020. "The Importance of Climate Risks for Institutional Investors," The Review of Financial Studies, Society for Financial Studies, vol. 33(3), pages 1067-1111.
    2. Rui Albuquerque & Yrjo Koskinen & Shuai Yang & Chendi Zhang, 2020. "Resiliency of Environmental and Social Stocks: An Analysis of the Exogenous COVID-19 Market Crash," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 9(3), pages 593-621.
    3. Malcolm Baker & Daniel Bergstresser & George Serafeim & Jeffrey Wurgler, 2022. "The Pricing and Ownership of US Green Bonds," Annual Review of Financial Economics, Annual Reviews, vol. 14(1), pages 415-437, November.
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    JEL classification:

    • C16 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Econometric and Statistical Methods; Specific Distributions
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • Q59 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Other

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