RT Journal Article
T1 Are institutional investors “in love” with the sustainable development goals? Understanding the idyll in the case of governments and pension funds
A1 García Sánchez, Isabel María
A1 Aibar Guzmán, Cristina
A1 Núñez Torrado, Miriam
A1 Aibar Guzmán, Beatriz
K1 Government
K1 Institutional investors
K1 Institutional theory
K1 Pension funds
K1 Sustainable development goals
AB Considering the key role that companies must play to achieve the Sustainable Development Goals (SDGs), this paper aims to analyze the effect of the presence of two types of institutional investors (governments and pension funds) in large companies' ownership structure on the alignment of their sustainability strategy towards the 2030 Agenda as well as the moderating effect that firm internationalization and industry's sensitivity to stakeholder pressures have on the influence of these two institutional investors on business commitment to the SDGs. For a sample of 4089 multinational companies from 2015 to 2018, the results show that institutional ownership does matter for business commitment to the SDGs, but in a different way depending on the type of investor. Specifically, ownership by government favors commitment to the SDGs, while ownership by pension funds has a negative impact, which is partially corrected in the case of globalized companies as well as in those firms belonging to industries, which are highly sensitive to stakeholder pressures. These findings seem to suggest that institutional investors' support the implementation of the SDGs by the companies in which they invest is mainly driven by corporate complexity.
PB Wiley
SN 0968-0802
YR 2022
FD 2022
LK https://hdl.handle.net/10347/42247
UL https://hdl.handle.net/10347/42247
LA eng
NO : García-Sánchez, I.-M., Aibar-Guzmán, C., Núñez-Torrado, M., & Aibar-Guzmán, B. (2022). Are institutional investors “in love” with the sustainable development goals? Understanding the idyll in the case of governments and pension funds. Sustainable Development, 30(5), 1099–1116. https://doi.org/10.1002/sd.2305
NO Consejería de Educacion, Junta de Castilla   y Leon, Grant/Award Number: SA069G18;   Junta de Castilla y Leon y Fondo Europeo de   Desarrollo Regional, Grant/Award Number: CLU-2019-03; Unidad de Excelencia “Gestion  Economica para la Sostenibilidad   ” (GECOS); Ministerio de Ciencia, Innovacion  y Universidades, Grant/Award Number: RTI2018-093423-B-I00; Xunta de Galicia, Grant/Award Number: 2020 GPC GI2016; Universidad de Salamanca covers our eligible open access article publication charge (APC)
DS Minerva
RD 25 abr 2026