Cailliau, Florent
(2006)
Proactive Reporting on Sustainable Development: Impacts on The Financial Perfomances of Some French Listed Companies.
[Dissertation (University of Nottingham only)]
(Unpublished)
Abstract
For more than 30 years, academic studies have focused on the financial impact of social and environmental performances of companies without finding any theory which does not suffer from ambiguity or instability, Allouche & Laroche, (2005); Gond, J.P. (2001); Margolis & Walsh, (2001a), (2003); Rowley & Berman, (2000). From a business perspective, sustainable companies are those that seek to minimize the environmental footprint of their operations, while simultaneously contributing to the economic and social development of the communities in which they operate internationally, Feltmate, B., Schofield, B. and Yachnin, R. (2001). As expressed by the concerns of Kofi Annan at the United Nations Millennium Summit in 2001, the Sustainable Development (SD) concept is now becoming a major issue for managers who are - in most cases - not entirely comfortable with the relationship between the financial and the intangible, Beckwith, N. (2004).
In France, the government issued in 2002 the New Economic Regulations law which purpose is to foster the publication of social and environmental information among French companies. French listed companies are therefore encouraged to report on their sustainable actions. The study, after reviewing the surrounding literature on the link between Sustainable Development and Financial Performances, tackles the issue: Does the fact that French Listed companies are Pro-active in SD reporting has an impact on their financial performances? Indeed, the fact that SD reporting could have an impact on the companies' financial performances would give French management some leads on a strategic issue, Sustainable Development.
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