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The main goal of this paper is better understand the risk/return trade-off of investing in socially responsible investment funds (SRIF) and green investment funds (GIF).

To achieve our aim a green investment fund portfolio, a socially responsible investment portfolio and a conventional fund (CF) portfolio from the United States of America (USA) were selected to compare the efficiency of these three different portfolios, by using Value-Based Data Envelopment Analysis (DEA) methodology.

The results point out that SRIF and GIF are more efficient than CF. For five years, the CFs have not outperformed the GIF.

The results suggest that there is a growing awareness on the part of investors that sustainable companies are the companies that will allow a better quality of life and a more sustainable environment. It seems that somehow managers and investors are aware that the market will compensate them for thinking about a cleaner and more equitable world.

This paper aims to analyze the impact of the adoption of ISO 14001 and ISO 9001 on the performance of Portuguese companies. The sample includes the companies listed on Euronext Lisbon, with economic, financial and specific information – the specific being environmental information and quality information – for the period between 2015 and 2019, which corresponds to the post-Troika period when some economic growth started to be witnessed. The specific information of each area is translated into the environmental certification by the ISO 14001 standard, the quality certification by the ISO 9001 standard, and sustainability reports.

To achieve this aim, four variables were used as a measure of the companies' performance, Return on Assets (ROA), Return on Equity (ROE); Tobin's Q and EBITDA Margin. With this data, different panel models were tested to validate if ISO 9001 and ISO 14001 certifications impact Portuguese listed companies performance. Specifically, the authors have used the Generalized Method of Moments, GMM-System, an estimation method proposed by Arellano and Bover (1995) and Blundell and Bond (1998).

The results show that, in general, the environment and quality variables fail to explain the dependent variables, that is, ISO certifications do not provide positive or negative variations in the performance of companies, suggesting that they are not yet as much for civil society, as well as for current or potential shareholders. When used as an independent variable, certification according to the ISO 14001 or 9001 standards, negative and significant oscillations were verified in the dependent variable, MgEBITDA, suggesting that only for managers this variable is determinant, but with a negative impact, given the high costs, it entails without pressure from other stakeholders.

This study is the first to analyze the impact of the adoption of ISO 14001 and ISO 9001 on Portuguese companies' performance. This empirical study aims to show all investors, managers, regulators and civil society itself the long path that still needs to be taken toward sustainability.

The purpose of this paper is to analyse the impact of political connections and gender diversity on the performance of Iberian companies as a singular market and considering Portugal and Spain separately.

The authors used panel data methodology, specifically GMM system estimation model by Arellano and Bond (1991) for the period from 2015 to 2020.

Results show that the performance of listed Iberian companies is influenced by political connections, by gender diversity and that gender diversity has a mitigating effect on the effects of political connections in each country. The mitigating effect of women is evident in both Portugal and Spain, as they are more cautious and principled, which is valued by short-term investors interested in an immediate investment. However, considering the Iberian Peninsula as a whole, the results indicate that – in the long term – women's political relationships can benefit performance through a better reputation and image, which can lead to better social and economic results in the long term.

To the best of the authors’ knowledge, this paper is original and covers an important gap in the literature when considering political connections and women's impact on these connections as determinants of the performance of Iberian companies.

The purpose of this work is to study the connections generated between stock market indices, representing firms whose practices focus on fighting climate change and several global risk factors in accordance with the sustainability objectives defined in the 2030 Agenda. An endogenous perspective is adopted, considering the spillovers generated within the low carbon stock market sector, as well as the latter’s exposure to exogenous shocks of an economic and financial nature.

This work uses a multivariate model of dynamic correlation (GARCH-corrected dynamic conditional correlation [cDCC]), which can accompany the correlations generated over time.

Considering five low carbon indices, representing various parts of the world, and four global macro-economic and financial variables, over a period of approximately eight years, it was possible to understand that the variables studied transmit between each other a statistically significant spillover. The period of the pandemic crisis shows a sharp increase in the information transmission process. It was also possible to conclude that some global variables are risk factors, performing the role of transmission channels for the spillover effects to low carbon indices, increasing the risk of contagion and reducing the possibilities of diversifying the investment portfolio.

Firstly, this work analyses the connection and spillover effects between low carbon indices. Secondly, considers an extended sample covering different market phases, particularly that of the pandemic crisis and the Ukrainian War, creating conditions to compare connection patterns between those indices. Thirdly, it studies the variable influence over time of global risk factors in the transmission of spillover between low carbon indices.

The main goal of this paper is to study the influence of some corporate governance, corporate social responsibility (CSR), and corporate-specific characteristics on the performance of Iberian-listed companies.

To achieve the paper's aim, the authors have used data from 33 Portuguese-listed companies, and 60 Spanish-listed companies, for the period 2011 to 2018. To test the hypotheses, the authors employed the generalized method of moments (GMM) estimation method, developed by Arellano and Bover (1995) and Blundell and Bond (1998).

The results point out that the performance determinants vary depending on the country under analysis and the variable used to measure performance. Despite being neighbors and historically commercially close, these countries have differences in their governmental, social and economic structure that lead to different stakeholder perceptions on the determinants of corporate performance. Specifically, when the authors use Tobin's Q as a market performance variable, board independence and the existence of a CSR committee have different signs in the two countries. The same happens when return on assets (ROA) is used as an accounting variable for internal management, implying that both, managers and potential investors of the two countries have different understandings about the variables that influence their performance.

To the best of the authors' knowledge, this is the first study to comparatively analyze the two countries of the Iberian Peninsula, analyzing the effect of corporate governance and social responsibility characteristics on the performance. The authors' results show that managers and potential investors have different points of view regarding the importance of corporate governance and social responsibility characteristics in corporate performance.

This study aims to investigate the role of green strategic alliances (GSAs) in fostering a green shared vision (GSVis) and green shared value (GSV) and their impact on green organizational identity (GOI) and sustainability.

The authors employed structural equation modeling to analyze data collected through a 60-item questionnaire administered in Portugal and China, allowing the authors to test their theoretical model.

The findings of the authors' study indicate that green strategic alliances have a positive influence on the development of a GSVis and GSV in both countries. This, in turn, contributes to improved sustainability and the establishment of a GOI. Furthermore, the authors' results demonstrate that these alliances enhance GSV, resulting in enhanced sustainability performance and a stronger green identity, with a notable increase in awareness of environmental and social practices.

This article is innovative as it applies organizational learning and value creation theories to gain a deeper understanding of how alliances can shape the green identity of companies and contribute to their overall sustainability.

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

This paper identifies the importance of strategic alliances for organizations that integrate sustainability into their strategic plans.

The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.