Trends in environmental CSR at the Oslo Seafood Index: A market value approach

Abstract

This study address whether different sustainability initiatives by the companies listed at the Oslo Seafood Index impact company value. With signaling theory as framework, it is argued that sustainability reports and other initiatives may contribute to reduce the information asymmetry between managers and equity holders. Using financial data from the company’s annual reports in combination with variables for different sustainability initiatives and quality, it is argued that these initiatives address information asymmetries concerning quality (GRI standard versus no standard) and intent (visualized and committed to through ASC and GSI) and contribute positive to company value.