RT Journal Article
T1 The benefits of climate tech: do institutional investors affect these impacts?
A1 Aibar Guzmán, Beatriz
A1 Aibar Guzmán, Cristina
A1 Piñeiro Chousa, Juan Ramón
A1 Hussain, Nazim
A1 García Sánchez, Isabel María
K1 Climate change
K1 Eco-innovation
K1 Institutional ownership
K1 Financial performance
K1 Environmental performance
K1 Intangible benefits
AB This study analyses the impact of investment in climate change mitigation innovations and technologies on companies, both from a financial and reputational viewpoint, as well as in terms of their environmental performance. We also investigate the moderating effect of institutional investors on the relationship between climate change mitigation investments and firm performance, considering their presence in shareholdings and their typology. We argue that the time horizon and objectives of their investments determine the approach to the integration of environmental criteria in the companies in which they invest. The results obtained for an international sample of 38,666 observations for the period 2010–2020, indicate that investment in climate-change mitigation technologies shows an increasing evolution, focusing especially on clean technologies and, to a lesser extent, on green building. The presence of shareholding by institutional investors with a long-term time horizon and strategic objectives enhances the impact of these projects on the company's image, market value, and profitability. At the environmental level, their effects are particularly associated with the responsible management of resources, and has a limited effect on emissions. The results are robust to different methodological specifications, validating the theoretical and practical implications of this research
PB Elsevier
YR 2023
FD 2023
LK http://hdl.handle.net/10347/30632
UL http://hdl.handle.net/10347/30632
LA eng
NO Technological Forecasting and Social Change 192 (2023) 122536
NO info:eu-repo/grantAgreement/MINECO/Programa Estatal de Fomento de la Investigación Científica y Técnica de Excelencia/ECO2013-43838-P/ES/DISCRECCIONALIDAD DIRECTIVA Y RESPONSABILIDAD SOCIAL CORPORATIVA: EFECTO EN LA REPUTACION Y EL COSTE DE CAPITAL
NO This work was supported by Consejería de Educación, Junta de Castilla y León [Grant/Award Number: SA069G18]; Ministerio de Ciencia e Innovación [Grant/Award Number: ECO2013-43838P]; Ministerio de Ciencia, Innovación y Universidades [Grant/Award Number: RTI2018-093423-B-I00]; Universidad de Salamanca [Grant/Award Number: USAL2017-DISAQ]; and Xunta de Galicia [Grant/Award Number: 2020 GPC GI-2016]
DS Minerva
RD 26 abr 2026