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Corporate Social Responsibility and good Corporate Governance practices in Spanish Ethical Mutual Funds: Analysis of investee companies
Responsabilidad social empresarial y buenas prácticas de gobierno corporativo en fondos de inversión éticos en España: análisis de las compañías beneficiarias
RESPONSABILIDADE SOCIAL EMPRESARIAL E BOAS PRÁTICAS DE GOVERNO CORPORATIVO EM FUNDOS DE INVESTIMENTO ÉTICOS NA ESPANHA: ANÁLISE DAS COMPANHIAS BENEFICIÁRIAS
DOI:
https://doi.org/10.15446/innovar.v27n65.65068Palabras clave:
Ethical Mutual Funds, Corporate Social Responsibility, Corporate Governance, Organizational Structure, accessibility and performance (en)fondos de inversión éticos, Responsabilidad Social Empresarial, Gobierno Corporativo, estructura organizacional, accesibilidad y desempeño (es)
acessibilidade e desempenho, estrutura organizacional, fundos de investimento éticos, Governo Corporativo, Responsabilidade Social Empresarial (pt)
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Ethical Mutual Funds (EMF) stand out for their investments in companies that develop strategies based on Corporate Social Responsibility (CSR) through good practices of Corporate Governance (CG). The aim of this paper is to analyze the types of companies that make up the portfolio of Spanish EMF, taking into account their cg model, their organizational structure and their economic and financial aspects. The results obtained show that the Spanish EMF prefer companies that promote the participation of stakeholders in their organizational structure and accessibility to their information. Additional evidence shows that the development of good cg practices in the context of CSR favors access to financing provided by financial markets and, within them, the EMF.
Los fondos de inversión éticos se destacan por realizar inversiones en compañías que construyen su estrategia bajo criterios de Responsabilidad Social Empresarial (RSE) y buenas prácticas de Gobierno Corporativo (CG). El objetivo de este artículo es analizar los tipos de compañías que conforman el portafolio de los fondos de inversión éticos españoles a partir del modelo de cg, la estructura organizacional y ciertos aspectos económicos y financieros de estas empresas. Los resultados obtenidos muestran que los fondos de inversión éticos españoles se inclinan por compañías en donde se promueve la participación de los stakeholders dentro de la estructura organizacional y la facilidad de acceso a su información. Evidencia complementaria señala que el desarrollo de buenas prácticas de cg en el contexto de la RSE favorece el acceso al financia-miento otorgado por los mercados financieros y, como parte de estos, a los fondos de inversión éticos.
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