Percepción financiera del riesgo reputacional medioambientalevidencia del vertido Boliden

  1. José Manuel Feria-Domínguez 1
  2. Inés Merino Fdez-Galiano 2
  1. 1 Universidad Pablo de Olavide
    info

    Universidad Pablo de Olavide

    Sevilla, España

    ROR https://ror.org/02z749649

  2. 2 Universidad Autónoma de Madrid
    info

    Universidad Autónoma de Madrid

    Madrid, España

    ROR https://ror.org/01cby8j38

Aldizkaria:
Boletín de estudios económicos

ISSN: 0006-6249

Argitalpen urtea: 2018

Zenbakien izenburua: Los riesgos y su gestión

Alea: 73

Zenbakia: 225

Orrialdeak: 541-556

Mota: Artikulua

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Beste argitalpen batzuk: Boletín de estudios económicos

Laburpena

El impacto mediático de los desastres naturales daña la imagen corporativa de las compañías responsables de dichas catástrofes. El vertido minero de Boliden constituye un claro ejemplo de riesgo reputacional corporativo. Además del impacto medioambiental, los desastres naturales provocados por empresas son percibidos negativamente por los inversores y, por ende, tienen implicaciones directas en los mercados de capitales. En los días posteriores al vertido de Boliden, encontramos no sólo retornos anormales acumulados –RAA–, estadísticamente significativos, sino también retornos anormales reputacionales –RAA(Rep)– igualmente significativos. Sin embargo, en la medida en que la pérdida de la capitalización bursátil de la empresa responsable no supera la propia pérdida económica exigida, no podemos concluir que el vertido se traduzca en una pérdida de reputación para la empresa cotizada, por cuanto los rendimientos anormales reputacionales acumulados obtenidos son positivos.

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