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Why do financial companies adopt the United Nations Principles for responsible investment?
[Pourquoi les sociétés financières décident-elles d'adopter les principes des nations unies pour l'investissement responsable ?]

Author

Listed:
  • Jonathan Peillex

    (CRIISEA - Centre de Recherche sur les Institutions, l'Industrie et les Systèmes Économiques d'Amiens - UR UPJV 3908 - UPJV - Université de Picardie Jules Verne)

  • Breeda Comyns

    (Kedge BS - Kedge Business School)

Abstract

This study investigates the effect of three categories of factors on the decision by financial companies to adopt the Principles for Responsible Investment (PRI). These factors are linked to (i) resources available to the firm (ii) the search for legitimacy and (iii) governance. Univariate and multivariate analyses are applied on a sample of 198 financial firms between 2006 and 2015. The results show that financial companies that are more likely to become PRI signatories have fewer available slack resources, are more scrutinized by the public, are bigger and have a board of directors characterized by greater gender diversity and independence than nonsignatory companies.

Suggested Citation

  • Jonathan Peillex & Breeda Comyns, 2020. "Why do financial companies adopt the United Nations Principles for responsible investment? [Pourquoi les sociétés financières décident-elles d'adopter les principes des nations unies pour l'investi," Post-Print hal-03678297, HAL.
    • Handle: RePEc:hal:journl:hal-03678297
    DOI: 10.3917/cca.261.0079
    as

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    Cited by:

    1. Barda, Kelly, 2020. "Analyser la performance financière des indices boursiers environnementaux [Analyzing financial performance of green stock market indices]," MPRA Paper 102537, University Library of Munich, Germany.
    2. Mendiela, Pauline, 2021. "Information security breaches and financial market reaction: the French case," MPRA Paper 105029, University Library of Munich, Germany.

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