The benefits of climate tech: Do institutional investors affect these impacts?

This study analyses the impact of investment in climate change mitigation innovations and technologies on companies, both from a financial and reputational viewpoint, as well as in terms of their environmental performance. We also investigate the moderating effect of institutional investors on the r...

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Autores: Aibar-Guzmán, Beatriz, Aibar-Guzmán, Cristina, Piñeiro Chousa, Juan Ramón, Hussain, Nazim, García Sánchez, Isabel María
Tipo de recurso: artículo
Estado:Versión publicada
Fecha de publicación:2023
País:España
Institución:Universidad de Salamanca (USAL)
Repositorio:GREDOS. Repositorio Institucional de la Universidad de Salamanca
OAI Identifier:oai:gredos.usal.es:10366/156500
Acceso en línea:http://hdl.handle.net/10366/156500
Access Level:acceso abierto
Palabra clave:climate change
eco-innovation
institutional ownership
financial performance
environmental performance
intangible benefits
2502 Climatología
5311.02 Gestión Financiera
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oai_identifier_str oai:gredos.usal.es:10366/156500
network_acronym_str ES
network_name_str España
repository_id_str
spelling The benefits of climate tech: Do institutional investors affect these impacts?Aibar-Guzmán, BeatrizAibar-Guzmán, CristinaPiñeiro Chousa, Juan RamónHussain, NazimGarcía Sánchez, Isabel Maríaclimate changeeco-innovationinstitutional ownershipfinancial performanceenvironmental performanceintangible benefits2502 Climatología5311.02 Gestión FinancieraThis study analyses the impact of investment in climate change mitigation innovations and technologies on companies, both from a financial and reputational viewpoint, as well as in terms of their environmental performance. We also investigate the moderating effect of institutional investors on the relationship between climate change mitigation investments and firm performance, considering their presence in shareholdings and their typology. We argue that the time horizon and objectives of their investments determine the approach to the integration of environmental criteria in the companies in which they invest. The results obtained for an international sample of 38,666 observations for the period 2010–2020, indicate that investment in climate-change mitigation technologies shows an increasing evolution, focusing especially on clean technologies and, to a lesser extent, on green building. The presence of shareholding by institutional investors with a long-term time horizon and strategic objectives enhances the impact of these projects on the company's image, market value, and profitability. At the environmental level, their effects are particularly associated with the responsible management of resources, and has a limited effect on emissions. The results are robust to different methodological specifications, validating the theoretical and practical implications of this research.Elsevier202420242023info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionhttp://hdl.handle.net/10366/156500reponame:GREDOS. Repositorio Institucional de la Universidad de Salamancainstname:Universidad de Salamanca (USAL)InglésJunta de Castilla y León y Fondo Europeo de Desarrollo Regional under Grant CLU-2019-03 Unidad de Excelencia “Gestión Económica para la Sostenibilidad” (GECOS)Attribution-NonCommercial-NoDerivatives 4.0 Internacionalhttp://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccessoai:gredos.usal.es:10366/1565002026-06-07T06:28:51Z
dc.title.none.fl_str_mv The benefits of climate tech: Do institutional investors affect these impacts?
title The benefits of climate tech: Do institutional investors affect these impacts?
spellingShingle The benefits of climate tech: Do institutional investors affect these impacts?
Aibar-Guzmán, Beatriz
climate change
eco-innovation
institutional ownership
financial performance
environmental performance
intangible benefits
2502 Climatología
5311.02 Gestión Financiera
title_short The benefits of climate tech: Do institutional investors affect these impacts?
title_full The benefits of climate tech: Do institutional investors affect these impacts?
title_fullStr The benefits of climate tech: Do institutional investors affect these impacts?
title_full_unstemmed The benefits of climate tech: Do institutional investors affect these impacts?
title_sort The benefits of climate tech: Do institutional investors affect these impacts?
dc.creator.none.fl_str_mv Aibar-Guzmán, Beatriz
Aibar-Guzmán, Cristina
Piñeiro Chousa, Juan Ramón
Hussain, Nazim
García Sánchez, Isabel María
author Aibar-Guzmán, Beatriz
author_facet Aibar-Guzmán, Beatriz
Aibar-Guzmán, Cristina
Piñeiro Chousa, Juan Ramón
Hussain, Nazim
García Sánchez, Isabel María
author_role author
author2 Aibar-Guzmán, Cristina
Piñeiro Chousa, Juan Ramón
Hussain, Nazim
García Sánchez, Isabel María
author2_role author
author
author
author
dc.subject.none.fl_str_mv climate change
eco-innovation
institutional ownership
financial performance
environmental performance
intangible benefits
2502 Climatología
5311.02 Gestión Financiera
topic climate change
eco-innovation
institutional ownership
financial performance
environmental performance
intangible benefits
2502 Climatología
5311.02 Gestión Financiera
description This study analyses the impact of investment in climate change mitigation innovations and technologies on companies, both from a financial and reputational viewpoint, as well as in terms of their environmental performance. We also investigate the moderating effect of institutional investors on the relationship between climate change mitigation investments and firm performance, considering their presence in shareholdings and their typology. We argue that the time horizon and objectives of their investments determine the approach to the integration of environmental criteria in the companies in which they invest. The results obtained for an international sample of 38,666 observations for the period 2010–2020, indicate that investment in climate-change mitigation technologies shows an increasing evolution, focusing especially on clean technologies and, to a lesser extent, on green building. The presence of shareholding by institutional investors with a long-term time horizon and strategic objectives enhances the impact of these projects on the company's image, market value, and profitability. At the environmental level, their effects are particularly associated with the responsible management of resources, and has a limited effect on emissions. The results are robust to different methodological specifications, validating the theoretical and practical implications of this research.
publishDate 2023
dc.date.none.fl_str_mv 2023
2024
2024
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv http://hdl.handle.net/10366/156500
url http://hdl.handle.net/10366/156500
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv Junta de Castilla y León y Fondo Europeo de Desarrollo Regional under Grant CLU-2019-03 Unidad de Excelencia “Gestión Económica para la Sostenibilidad” (GECOS)
dc.rights.none.fl_str_mv Attribution-NonCommercial-NoDerivatives 4.0 Internacional
http://creativecommons.org/licenses/by-nc-nd/4.0/
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Attribution-NonCommercial-NoDerivatives 4.0 Internacional
http://creativecommons.org/licenses/by-nc-nd/4.0/
eu_rights_str_mv openAccess
dc.publisher.none.fl_str_mv Elsevier
publisher.none.fl_str_mv Elsevier
dc.source.none.fl_str_mv reponame:GREDOS. Repositorio Institucional de la Universidad de Salamanca
instname:Universidad de Salamanca (USAL)
instname_str Universidad de Salamanca (USAL)
reponame_str GREDOS. Repositorio Institucional de la Universidad de Salamanca
collection GREDOS. Repositorio Institucional de la Universidad de Salamanca
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15,301603

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