Date of Publication

7-18-2023

Document Type

Bachelor's Thesis

Degree Name

Bachelor of Science in Accountancy

Subject Categories

Accounting | Business Administration, Management, and Operations | Business and Corporate Communications | Finance and Financial Management

College

Ramon V. Del Rosario College of Business

Department/Unit

Accountancy

Thesis Advisor

Marivic V. Manalo

Defense Panel Chair

Michelle A. Ang

Defense Panel Member

John Michael Angelo Z. Lopo

Abstract/Summary

Companies are now held to higher standards and are expected to implement green initiatives aimed at reducing negative environmental impact and promoting sustainability. Through an event study, the researchers determined the impact of green initiative announcements, specifically concerning waste management and renewable energy, on the CAAR of the stock prices of selected publicly listed companies in the food and beverage industry in ASEAN-5 countries, namely, Indonesia, Malaysia, Philippines, Singapore, and Thailand from 2021 to 2022. The researchers adopted a causal, mixed-method research design and applied the total enumeration approach in determining the sample. With the use of Microsoft Excel and Jamovi, the researchers computed the CAAR and tested for its significance through a one-sample two-tailed t-test. The findings indicated that the CAAR is significant and negative 5, 6, and 8 days (CAAR = -0.79% -0.65% -0.53%, p < .05) before the announcement date. Waste management green initiatives also had a significant and negative CAAR 8 and 10 days (CAAR = -0.79% -0.41%, p < .05) and 9 days (CAAR = -0.83%, p < .01) before the announcement date. Meanwhile, renewable energy green initiatives had no significant impact during the event window (p < .05). The findings demonstrate various market responses to the different types of green initiatives and can aid in advancing knowledge of how these can influence market reactions and investor sentiments.

Abstract Format

html

Language

English

Format

Electronic

Keywords

Stocks—Prices; Investments—Environmental aspects

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Embargo Period

8-10-2023

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