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Sustainability Ratings auf Länderebene

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CSR und Finanzratings

Part of the book series: Management-Reihe Corporate Social Responsibility ((MRCOSORE))

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Zusammenfassung

Die finanzielle Globalisierung der vergangenen Jahrzehnte eröffnete die Möglichkeit zu internationalen Portfoliodiversifikationen. Ein Vergleich von Länderrisiken setzt unter anderem die Nutzung von Länderratings voraus. Die seit der Jahrtausendwende rasch wachsende Nachfrage nach nachhaltigen/ethischen/„grünen“ Investitionen/Impact Investments führt zu wachsender Nachfrage nach Sustainability Ratings auf Länderebene. Am Beispiel des FER 3D Länder-Screenings von software-systems.at wird gezeigt, wie institutionelle und private Investoren sowie Berater Sustainability Ratings zum frühzeitigen Erkennen von wirtschaftlichen, sozialen, ökologischen und ethischen Chancen und Risiken der Portfolioinvestition in einem Land und zur Integration ihrer persönlichen Wertvorstellungen in die Anlageentscheidung nutzen können.

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Notes

  1. 1.

    Vgl. Beck et al. 2013, S. 1.

  2. 2.

    Vgl. Lim und Kim 2012, S. 2228.

  3. 3.

    Vgl. Kalemli-Ozcan und Villegas-Sanchez 2013, S. 323.

  4. 4.

    Coeurdacier und Guibaud 2011, S. 289.

  5. 5.

    Vgl. Calomiris und Neal 2013, S. 3.

  6. 6.

    Vgl. Coeurdacier und Guibaud 2011, S. 290 und 301.

  7. 7.

    Vgl. Driessen und Laeven 2007, S. 1695 und 1710.

  8. 8.

    Vgl. Meric und Meric 1989, S. 639.

  9. 9.

    Vgl. Vermeulen 2013, S. 122.

  10. 10.

    Vgl. Diyarbakirlioglu 2011, S. 319 und 327.

  11. 11.

    Vgl. Giofré 2013, S. 506.

  12. 12.

    Vgl. Giofré 2013, S. 522.

  13. 13.

    Vgl. Menil 2005, S. 124.

  14. 14.

    Vgl. Hill et al. 2010, S. 1327; Bissoondoyal-Bheenick 2005, S. 251–252; Brooks et al. 2004, S. 234–235.

  15. 15.

    Vgl. Afonso et al. 2014, S. 31.

  16. 16.

    Vgl. Chen et al. 2013, S. 4820.

  17. 17.

    Vgl. Chen et al. 2013, S. 4831.

  18. 18.

    Vgl. Hoxha et al. 2013, S. 97.

  19. 19.

    Vgl. Duan und van Laere 2012, S. 3239.

  20. 20.

    Vgl. Bruner und Abdelal 2005, S. 197–198; Hanusch und Vaaler 2013, S. 251.

  21. 21.

    Vgl. Becker und Milbourn 2011, S. 493.

  22. 22.

    Vgl. Duan und van Laere 2012, S. 3240.

  23. 23.

    Vgl. Clark und Hebb 2004, S. 146.

  24. 24.

    Vgl. Koellner et al. 2005, S. 55; Vitols 2011, S. 35.

  25. 25.

    Vgl. Sharma 2006, S. A478.

  26. 26.

    Vgl. Golini et al. 2014, S. 456.

  27. 27.

    Vgl. Menichini und Rosati 2013, S. 551.

  28. 28.

    Vgl. Fowler und Hope 2007, S. 243; Schueth 2003, S. 115; Sparkes 2008, S. 139.

  29. 29.

    Vgl. Jahnke und Nutzinger 2003, S. 276.

  30. 30.

    Vgl. Bakshi 2007, S. 525; Camejo 2003, S. 23; Isenring 2003, S. 13; Kurtz 2008, S. 251; Vitols 2011, S. 34; Waring und Lewer 2004, S. 100.

  31. 31.

    Vgl. Komanduri und Kurtz 2008, S. 2019.

  32. 32.

    Vgl. Schrettle et al. 2014, S. 73.

  33. 33.

    Vgl. Ediger et al. 2007, S. 2969.

  34. 34.

    Vgl. Bansal 2005, S. 198; Bilbao-Terol et al. 2012, S. 110; Labuschagne et al. 2005, S. 374.

  35. 35.

    Vgl. Pulselli et al. 2012, S. 766.

  36. 36.

    Vgl. Slawinski und Bansai 2009, S. 5.

  37. 37.

    Vgl. Ballestero et al. 2012, S. 487; Brodbeck 2006, S. 50; Kempf und Osthoff 2007, S. 908; Pinner 2008, S. 69; Schlegelmilch 1997, S. 48; Schröder 2003, S. 2.

  38. 38.

    Vgl. Bilbao-Terol et al. 2012, S. 110.

  39. 39.

    Vgl. Ortas et al. 2012, S. 581.

  40. 40.

    Vgl. Sprinkle und Maines 2010, S. 448.

  41. 41.

    Vgl. Koellner et al. 2005, S. 55–56; Ness et al. 2007, S. 498.

  42. 42.

    Vgl. Ballestero et al. 2012, S. 488.

  43. 43.

    Vgl. Bilbao-Terol et al. 2012, S. 111.

  44. 44.

    Vgl. oekom research AG (Hrsg) (o. J.), oekom country rating; oekom research AG (Hrsg) (o. J.), Universum.

  45. 45.

    oekom research AG (Hrsg), 2012, S. 1.

  46. 46.

    Vgl. ibid.

  47. 47.

    Vgl. WWF Österreich (Hrsg), 2011, S. 6.

  48. 48.

    Vgl. ibid., S. 9.

  49. 49.

    Vgl. Koellner et al. 2005, S. 57.

  50. 50.

    Vgl. Nilsson et al. 2011, S. 12–13.

  51. 51.

    Vgl. Mori und Christodoulou 2012, S. 95.

  52. 52.

    Vgl. Ness et al. 2007, S. 505.

  53. 53.

    Vgl. Krajnc und Glavič 2005, S. 204.

  54. 54.

    Vgl. software-systems.at (Hrsg.) (o.J.), FER 3D Länder-Screening. Top Ten Länder und alphabetische Ergebnisliste.

  55. 55.

    Vgl. Bissoondoyal-Bheenick 2005, S. 279.

  56. 56.

    Vgl. Afonso et al. 2012, S. 606–607.

  57. 57.

    Vgl. Koellner et al. 2005, S. 68.

  58. 58.

    Vgl. Bakshi 2007, S. 524.

  59. 59.

    Vgl. Reiche 2010, S. 3573–3575.

  60. 60.

    Vgl. Krebs 2009, S. 134, eigene Übersetzung.

  61. 61.

    Vgl. Chelli und Gendron 2013, S. 196.

  62. 62.

    Vgl. Carneiro 2009, S. 107.

  63. 63.

    Vgl. Becker und Milbourn 2011, S. 494 und 513; Duan und van Laere 2012, S. 3240; Krebs 2009, S. 140–141.

  64. 64.

    Vgl. Mullard 2012, S. 80.

  65. 65.

    Vgl. ibid., S. 91.

  66. 66.

    Vgl. Bolton et al. 2012, S. 86.

  67. 67.

    Vgl. Jiang et al. 2012, S. 620.

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  1. software-systems.at Finanzdatenservice GmbH, 9103, Diex, Österreich

    M. Hoffmann & R. Lernbass

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  1. M. Hoffmann
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  1. Institut für nachhaltiges Finanzwesen , Nibelungenviertel, Wien, Wien, Austria

    Heidrun E. Kopp

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Hoffmann, M., Lernbass, R. (2016). Sustainability Ratings auf Länderebene. In: Kopp, H. (eds) CSR und Finanzratings. Management-Reihe Corporate Social Responsibility. Springer Gabler, Berlin, Heidelberg. https://doi.org/10.1007/978-3-662-47461-7_12

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