The long-run stock performance following announcements of sustainable supply chain management initiatives

Thi Ha Trang Dang, Shao Chi Chang

研究成果: Article同行評審

5 引文 斯高帕斯(Scopus)

摘要

Purpose: This study aims to examine and analyze the determinants of the stock market performance after firms announce sustainable supply chain management (SSCM) practices. Design/methodology/approach: The study focuses on the long-run stock performance of firms announcing SSCM investments. The authors collected a sample of 280 SSCM announcements from 2010 to 2017 and estimated the buy-and-hold abnormal stock returns up to three years following the announcements. Numerous analyses were conducted to analyze the effect of environmental and social sustainability on long-run stock returns. Findings: The findings show a significantly positive stock performance in the three-year period after announcements. Moreover, the evidence indicates that the post-announcement abnormal stock return has an inverted-U relationship with corporate environmental sustainability but not with corporate social sustainability. Finally, whether firms expand the firms' corporate sustainability strength to SSCM practices or not, firms secure long-run wealth as long as SSCM programs are carried out. Research limitations/implications: The research focuses on the stock performance of USA public firms to draw conclusions about firms' market performance. This research leaves out the private and born-sustainable firms. Practical implications: The findings offer firms incentives to invest in SSCM and suggest the magnitude of value provided by each sustainability type to help firms set firms' supply chain (SC) sustainable investment level. Originality/value: The study is the first to investigate the long-run stock performance of firms announcing SSCM practices and the contribution of different sustainability types to stock performance.

原文English
頁(從 - 到)738-759
頁數22
期刊International Journal of Operations and Production Management
43
發行號5
DOIs
出版狀態Published - 2023 4月 5

All Science Journal Classification (ASJC) codes

  • 一般決策科學
  • 策略與管理
  • 技術與創新管理

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