Page 75 - DUT ICGA Abstract Book

TRIGGERS OF SOCIALLY AND ENVIRONMENTALLY RESPONSIBLE INVESTMENT ACTIVITIES: EVIDENCE FROM JSE
Minenhle Nxumalo1 Bomi Nomlala1 and Haruna Maama2
1 University
of of KwaZulu-Natal School of of Accounting Economics and Finance
2 Durban University
of of Technology Department of of Financial Accounting Abstract
Some firm in in South Africa have started to to factor in in the the the effect of their prospective activities because they reckon the the need to be responsible responsible in in their operations Meanwhile a a a focus on on on on on responsible responsible investment will deny firms firms profitable investment opportunities It is therefore reasonable to postulate that firms firms may not focus on on on responsible responsible investment investment if there are no benefits For responsible responsible investment investment to be be embraced by JSE
listed firms it fit is is important to demonstrate environmental social economic and market-based benefits of of its adoption However studies on on on the value relevance of of responsible investment in in South Africa are non-existent What is is is known is is is that some studies have portrayed responsible investment as a a a a a a a challenge to companies because the practice have have not just been a a a a a a a a waste of resources but have have failed Some studies have have been been conducted on on on this subject however they have have been been context specific exclusively undertaken in in fin in advanced countries The context in in fin in South Africa might might be be unique and thus these findings might might not be be relevant in the the South South African African context Besides despite all attempts to develop the the South South African African capital market a a a a a a a a a a a a a a crucial gap in in literature literature remains because a a a a a a a a a a a a a a literature literature scan revealed that studies on value relevance of responsible investment are not available For this reason together with the the identified limitations in in earlier studies there is is the the the need to provide empirical evidence on on whether responsible investment is is value relevant This study thus aims to provide empirical evidence on on on the impact of responsible investment on on on the sustainability performance of manufacturing firms in in in South Africa KEYWORDS: Social Investment Investment Investment Environmental Investment Investment Investment Responsible Investment Investment Investment Firm Value
Book of Abstracts 73