Testing the Resilience of CSR Stocks during the COVID-19 Crisis: A Transcontinental Analysis
Investors and practitioners are increasingly concerned with financial assets within the scope of corporate social responsibility (CSR) meaning that, in recent times, such assets have become enshrined in the preferences of the new generations of investors and consumers. Just when the interest of inve...
| Main Authors: | , |
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| Format: | info:eu-repo/semantics/article |
| Language: | English |
| Published: |
MDPI
2021
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10835/10247 https://doi.org/10.3390/math9050514 |
| _version_ | 1789406332741222400 |
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| author | Valls Martínez, María del Carmen Martín Cervantes, Pedro Antonio |
| author_facet | Valls Martínez, María del Carmen Martín Cervantes, Pedro Antonio |
| author_sort | Valls Martínez, María del Carmen |
| collection | DSpace |
| description | Investors and practitioners are increasingly concerned with financial assets within the scope of corporate social responsibility (CSR) meaning that, in recent times, such assets have become enshrined in the preferences of the new generations of investors and consumers. Just when the interest of investors was at its highest, SARS-CoV-2 (COVID-19) affected all international financial markets, so that, at first sight, it might seem that the financial assets assigned to CSR should have suffered collapses that were identical to the rest; however, our work shows the opposite, providing a comparative analysis of how the pandemic has affected the financial markets of each continent to demonstrate its outstanding resilience through the use of the Wavelets methodology. We analyzed the global impact of the registered cases of COVID-19 on the Dow Jones Sustainability World Index (DJSWI), the world’s leading indicator of sustainable companies, in addition to six other financial indices selected from each continent. The empirical results of this research show that the worldwide repercussions of the sudden outbreak of SARS-CoV-2 has had a substantially smaller effect on sustainability-related indices compared to the other considered indices. Similarly, the methodology employed allowed the establishment of a chronogram with details of the dating of COVID-19 expansion through the considered countries, a certain gradation in terms of the impact of the pandemic on these stock indices, and certain common guidelines describing their devastating effects on each of the financial markets represented by the indices in this research. |
| format | info:eu-repo/semantics/article |
| id | oai:repositorio.ual.es:10835-10247 |
| institution | Universidad de Cuenca |
| language | English |
| publishDate | 2021 |
| publisher | MDPI |
| record_format | dspace |
| spelling | oai:repositorio.ual.es:10835-102472023-04-12T19:05:17Z Testing the Resilience of CSR Stocks during the COVID-19 Crisis: A Transcontinental Analysis Valls Martínez, María del Carmen Martín Cervantes, Pedro Antonio Wavelets analysis Morlet wavelet frequency-domain comovements decomposition COVID-19 2020 stock market crash CSR international financial markets Investors and practitioners are increasingly concerned with financial assets within the scope of corporate social responsibility (CSR) meaning that, in recent times, such assets have become enshrined in the preferences of the new generations of investors and consumers. Just when the interest of investors was at its highest, SARS-CoV-2 (COVID-19) affected all international financial markets, so that, at first sight, it might seem that the financial assets assigned to CSR should have suffered collapses that were identical to the rest; however, our work shows the opposite, providing a comparative analysis of how the pandemic has affected the financial markets of each continent to demonstrate its outstanding resilience through the use of the Wavelets methodology. We analyzed the global impact of the registered cases of COVID-19 on the Dow Jones Sustainability World Index (DJSWI), the world’s leading indicator of sustainable companies, in addition to six other financial indices selected from each continent. The empirical results of this research show that the worldwide repercussions of the sudden outbreak of SARS-CoV-2 has had a substantially smaller effect on sustainability-related indices compared to the other considered indices. Similarly, the methodology employed allowed the establishment of a chronogram with details of the dating of COVID-19 expansion through the considered countries, a certain gradation in terms of the impact of the pandemic on these stock indices, and certain common guidelines describing their devastating effects on each of the financial markets represented by the indices in this research. 2021-03-15T09:07:23Z 2021-03-15T09:07:23Z 2021-03-02 info:eu-repo/semantics/article 2227-7390 http://hdl.handle.net/10835/10247 https://doi.org/10.3390/math9050514 en https://www.mdpi.com/2227-7390/9/5/514 Attribution-NonCommercial-NoDerivatives 4.0 Internacional http://creativecommons.org/licenses/by-nc-nd/4.0/ info:eu-repo/semantics/openAccess MDPI |
| spellingShingle | Wavelets analysis Morlet wavelet frequency-domain comovements decomposition COVID-19 2020 stock market crash CSR international financial markets Valls Martínez, María del Carmen Martín Cervantes, Pedro Antonio Testing the Resilience of CSR Stocks during the COVID-19 Crisis: A Transcontinental Analysis |
| title | Testing the Resilience of CSR Stocks during the COVID-19 Crisis: A Transcontinental Analysis |
| title_full | Testing the Resilience of CSR Stocks during the COVID-19 Crisis: A Transcontinental Analysis |
| title_fullStr | Testing the Resilience of CSR Stocks during the COVID-19 Crisis: A Transcontinental Analysis |
| title_full_unstemmed | Testing the Resilience of CSR Stocks during the COVID-19 Crisis: A Transcontinental Analysis |
| title_short | Testing the Resilience of CSR Stocks during the COVID-19 Crisis: A Transcontinental Analysis |
| title_sort | testing the resilience of csr stocks during the covid-19 crisis: a transcontinental analysis |
| topic | Wavelets analysis Morlet wavelet frequency-domain comovements decomposition COVID-19 2020 stock market crash CSR international financial markets |
| url | http://hdl.handle.net/10835/10247 https://doi.org/10.3390/math9050514 |
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