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Engagement dialogue as a Nordic sustainable and responsible investment (SRI) strategy
University of Gävle, Gävle, Sweden. (SIRP)ORCID iD: 0000-0002-3196-3489
Linnaeus university.
2018 (English)In: Challenges in managing sustainable business: reporting, taxation, ethics and governance / [ed] Susanne Arvidsson, Cham: Palgrave Macmillan, 2018, p. 179-204Chapter in book (Refereed)
Abstract [en]

This chapter explores engagement dialogue as a sustainable and responsible investment (SRI) strategy from a Nordic investor perspective. The Nordic model of engagement dialogue is grounded in the Nordic model of corporate governance and stakeholder capitalism. Based on a proprietary database from a professional SRI agent, this chapter conducts an in-depth analysis of engagement dialogue between Nordic institutional investors and MSCI World companies regarding environmental, social, and corruption risks. The main characteristics of the Nordic model of engagement dialogue are an incident-based approach, norm-based compliance, a small number of engagement cases, and long-term emphasis on risk reduction as opposed to short-term financial gains. The chapter notes that successful forms of engagement dialogue target global companies with higher levels of pre-engagement environmental, social and governance (ESG) performance, ESG transparency, and operating performance than a matched sample. Their performance remains superior to the matched sample in the post-engagement period. The chapter consequently extends previous literature on SRI strategies in the Anglo-Saxon model of activism based on shareholder resolutions, whereby companies are targeted owing to corporate governance risks and low financial performance.

Place, publisher, year, edition, pages
Cham: Palgrave Macmillan, 2018. p. 179-204
Keywords [en]
Sustainable and responsible investments (SRI), Investor activism, Private engagements, Environmental, social and governance (ESG) risks, Transparency, Performance
National Category
Business Administration
Research subject
Business Studies
Identifiers
URN: urn:nbn:se:umu:diva-161678DOI: 10.1007/978-3-319-93266-8_8ISBN: 9783319932651 (print)ISBN: 9783319932668 (electronic)OAI: oai:DiVA.org:umu-161678DiVA, id: diva2:1338663
Available from: 2019-07-23 Created: 2019-07-23 Last updated: 2019-08-28Bibliographically approved

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Hassel, Lars G

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf