Since it was first introduced 13 years ago in 2000, the UN G lobal C ompact has become the world's largest voluntary corporate responsibility initiative. The benefits for companies that have voluntarily affiliated with the UN G lobal C ompact have been little documented from an empirical perspective, especially regarding the integration of this information by capital markets. This study attempts to address this question, drawing on a sample of French companies listed on the SBF 250 index. Results suggest that, within the French context at least, investors significantly value a firm's affiliation with the UN G lobal C ompact. In addition, the firms affiliated are those that appear to present the least risk.
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Coulmont et al. (2014) studied this question.