2014/95/EU. (2014). Europa-parlamentets og rådets direktiv 2014/95/EU. Den Europæiske Unions Tidende, L330/1.
Akerlof, G. A. (1970). The Market for “Lemons”: Quality Uncertainty and the Market Mechanism.
The Quarterly Journal of Economics, 84(3), 488–500. https://doi.org/10.2307/1879431
Bansal, P. (2005). Evolving sustainably: A longitudinal study of corporate sustainable development.
Strategic Management Journal, 26(3), 197–218. https://doi.org/10.1002/smj.441 Barria, C. (2019). Thomson Reuters Starmine Credit Risk Models. Retrieved from
https://economia.uniroma2.it/public/finance/files/StarMine_Credit_Risk_Models%5B1%5D.p df
Baye, M. R., Prince, J. T., & Squalli, J. (2013). Managerial Economics and Business Strategy (Eighth). Berkshire, UK: Mc Graw Hill Education.
Bennett, J., & Sias, R. W. (2006). How Diversifiable is Firm-specific Risk? Retrieved from https://www.researchgate.net/publication/228425315_How_Diversifiable_Is_Firm-Specific_Risk
Blunch, N. J. (2000). Analyse af Markedsdata (Anden). Aarhus: Systime.
Bowen, R. M., Chen, X., & Cheng, Q. (2008). Analyst Coverage and the Cost of Raising Equity Capital: Evidence From Underpricing of Seasoned Equity Offerings. Contemporary
Accounting Research, 25(3), 657–700. https://doi.org/10.1506/car.25.3.1
Carroll, A. B. (1999). Corporate Social Responsibility - Evolution of a Definitional Construct.
Business & Society, 38(3), 268–295. https://doi.org/10.1177/000765039903800303 Corporate Finance Institute. (2019). Definition of WACC. Retrieved July 12, 2019, from
https://corporatefinanceinstitute.com/resources/knowledge/finance/what-is-wacc-formula/
CSR Europe. (2010). A Guide to CSR in Europe. Retrieved from
https://www.fundacionseres.org/lists/informes/attachments/1036/guide_to_csr_csr europe.pdf Dang, C., (Frank) Li, Z., & Yang, C. (2018). Measuring Firm Size in Empirical Corporate Finance.
Journal of Banking and Finance, 86, 159–176. https://doi.org/10.1016/j.jbankfin.2017.09.006
82 Danske Revisorer FSR. (2018). Analyse: De 50 største virksomheders rapportering om
samfundsansvar. Retrieved from https://www.fsr.dk/Nyheder og
presse/Pressemeddelelser/2018-pressemeddelelser/Gode rapporter om samfundsansvar men ogsaa plads til forbedringer
Deloitte. (2019). Tillid og bæredygtige investeringer i bank og pension - Trendrapport om danske banker og pensionsselskaber. Retrieved from https://www2.deloitte.com/dk/da/pages/strategy-operations/articles/trendrapport-2019-fsi.html
Dhaliwal, D. S., Li, O. Z., Tsang, A., & Yang, Y. G. (2011). Voluntary Nonfinancial Disclosure and the Cost of Equity Capital: The Initiation of Corporate Social Responsibility Reporting. The Accounting Review, 86(1), 59–100. https://doi.org/10.2308/accr.00000005
Dodge, Y. (2008). The Concise Encyclopedia of Statistics (First). New York: Springer-Verlag.
E.Y. (2018). Does your nonfinancial reporting tell your value creation story? Retrieved from https://www.ey.com/en_gl/assurance/does-nonfinancial-reporting-tell-value-creation-story Egholm, L. (2014). Videnskabsteori - Pespektiver på Organisationer og Samfund (Første).
København: Hans Reitzels Forlag.
El Ghoul, S., Guedhami, O., Kwok, C. C. Y., & Mishra, D. R. (2011). Does corporate social responsibility affect the cost of capital? Journal of Banking and Finance, 35, 2388–2406.
https://doi.org/10.1016/j.jbankfin.2011.02.007
Escrig-Olmedo, E., Fernández-Izquierdo, M. ángeles, Ferrero-Ferrero, I., Rivera-Lirio, J. M., &
Muñoz-Torres, M. J. (2019). Rating the Raters: Evaluating how ESG Rating Agencies
Integrate Sustainability Principles. Sustainability, 11(915). https://doi.org/10.3390/su11030915 European Commission. (2011). A renewed EU strategy 2011-14 for Corporate Social
Responsibility. https://doi.org/10.1287/orsc.7.2.136
Fama, E. F., & French, K. R. (1992). The Cross-Section of Expected Stock Returns. The Journal of Finance, 47(2), 427–465. https://doi.org/10.2307/2329112
Finextra. (2018). Bloomberg and Thomson Reuters Lose Market Share to Smaller Rivals. Retrieved August 9, 2019, from https://www.finextra.com/newsarticle/31856/bloomberg-and-thomson-reuters-lose-market-share-to-smaller-rivals
Fortanier, F., Kolk, A., & Pinkse, J. (2011). Harmonization in CSR Reporting: MNEs and Global
83 CSR Standards. Management International Review, 51(5), 665–696.
https://doi.org/10.1007/s11575-011-0089-9
Freedom House. (2018). Table of Country Scores. Retrieved July 10, 2019, from https://freedomhouse.org/report/freedom-world-2018-table-country-scores
Freeman, R. E., & Reed, D. L. (1983). Stockholders and Stakeholders: A New Perspective on Corporate Governance. California Management Review, 25(3), 88–106.
https://doi.org/10.2307/41165018
Friede, G., Busch, T., & Bassen, A. (2015). ESG and financial performance: aggregated evidence from more than 2000 empirical studies. Journal of Sustainable Finance and Investment, 5(4), 210–233. https://doi.org/10.1080/20430795.2015.1118917
Friedman, M. (1970). Legitimacy and Responsibility: The Social Responsibility of Business is to Increase its Profits. The New York Times Magazine, 122–124. Retrieved from
http://umich.edu/~thecore/doc/Friedman.pdf
Gebhardt, W. R., Lee, C. M. C., & Swaminathan, B. (2001). Toward an Implied Cost of Capital Stable. Journal of Accounting Research, 39(1), 135–176. https://doi.org/10.1111/1475-679X.00007
Global Reporting Initiative, & CSR Europe. (2017). Member State Implementation of Directive 2014/95/EU. Retrieved from https://www.csreurope.org/sites/default/files/CSR Europe_GRI NFR publication_0 %281%29.pdf
Goss, A., & Roberts, G. S. (2011). The impact of corporate social responsibility on the cost of bank loans. Journal of Banking and Finance, 35(7), 1794–1810.
https://doi.org/10.1016/j.jbankfin.2010.12.002
Grabowski, R., & King, D. (1995). The Size Effect and Equity Returns. Business Valuation Review, 14(2), 69–74. https://doi.org/10.5791/0882-2875-14.2.69
Hansen, E. J., & Anders, B. H. (2009). Et Sociologisk Værktøj (Second). København: Hans Reitzels Forlag.
Heinkel, R., Kraus, A., & Zechner, J. (2001). The Effect of Green Investment on Corporate Behavior. The Journal of Financial and Quantitative Analysis, 36(4), 431–449.
https://doi.org/10.2307/2676219
84 Iso.org. (2010). ISO 26000 Social responsibility. Retrieved July 18, 2019, from
https://www.iso.org/iso-26000-social-responsibility.html
Jagd, J. T. (2013). Investororienteret CSR-rapportering (Første). København: Karnov Group Denmark A/S.
James, G., Witten, D., Hastie, T., Tibshirani, R., & Casella, G. (2013). An Introduction to Statistical Learning (First). New York: Springer.
Kaufman, M. (2012). Chapter 14 - Profitability and the Cost of Capital. In W. R. Lalli (Ed.), Handbook of Budgeting (Sixth). https://doi.org/10.1002/9781119200871
Kell, G. (2018). The Remarkable Rise Of ESG. Retrieved July 19, 2019, from https://www.forbes.com/sites/georgkell/2018/07/11/the-remarkable-rise-of-esg/
Khorshed, A. (2011). Women workers in the Bangladeshi garment sector. Retrieved from https://waronwant.org/sites/default/files/Stitched Up.pdf
Knufken, D. (2010). The World’s Worst Environmental Disasters Caused by Companies. Retrieved July 9, 2019, from http://www.businesspundit.com/the-worlds-worst-environmental-disasters-caused-by-companies/
Kölbel, J., & Busch, T. (2017). The link between ESG, alpha, and the cost of capital: Implications for investors and CFOs. Corporate Finance, (3–4), 82–85. Retrieved from
https://www.researchgate.net/publication/315815434_The_link_between_ESG_alpha_and_the _cost_of_capital_Implications_for_investors_and_CFOs
KPMG. (2017). KPMG - Survey of Corporate Responsibility Reporting 2017.
https://doi.org/10.1038/nnano.2013.238
Magnanelli, B. S., & Izzo, M. F. (2017). Corporate Social Performance and Cost of Debt: The Relationship. Social Responsibility Journal, 13(2), 250–265. https://doi.org/10.1108/SRJ-06-2016-0103
Mcguire, J. B., Sundgren, A., & Schneeweis, T. (1988). Corporate Social Responsibility and Firm Financial Performance. The Academy of Management Journal, 31(4), 854–872.
https://doi.org/10.2307/256342
Ministry of Economic Affairs and Employment of Finland. (2017). Corporate social responsibility (CSR) reporting. Retrieved July 17, 2019, from https://tem.fi/en/csr-reporting
85 Murphy, C. J. (2002). The Profitable Correlation Between Environmental and Financial
Performance: A Review of the Research. Light Green Advisors. Retrieved from
https://www.researchgate.net/publication/255532284_The_Profitable_Correlation_Between_E nvironmental_and_Financial_Performance_A_Review_of_the_Research
Neergaard, P. (2006). Virksomheders sociale ansvar - Corporate Social Responsibility. En introduktion. In H. T. Djursø & P. Neergaard (Eds.), Social Ansvarlighed - Fra idealisme til forretningsprincip (Første, pp. 19–37). Århus: Academica.
Ng, A. C., & Rezaee, Z. (2015). Business sustainability performance and cost of equity capital.
Journal of Corporate Finance, 34, 128–149. https://doi.org/10.1016/j.jcorpfin.2015.08.003 Petersen, V. A., Hassing, A., & Henriksen, P. (2018). Metodebogen (Første). København: Forlaget
Columbus.
Pratt, S. P. (1998). Cost of Capital - Estimation and Applications (First). New York, USA: John Wiley & Sons Inc.
Pratt, S. P., & Grabowski, R. J. (2008). Cost of Capital - Applications and Examples (Third).
Hoboken, New Jersey, USA: John Wiley & Sons Inc.
PWC. (2014). Sustainability goes mainstream: insights into investor views. Retrieved from http://www.pwc.com/us/en/pwc-investor-resource-institute/publications/assets/pwc-sustainability-goes-mainstream-investor-views.pdf
Rochlin, S. (2018). The Business ROI of Social Investments. Retrieved from
https://www.accprof.org/ACCP/ROI_of_CSR/Business-ROI-Social- Investments.aspx?hkey=39a05152-a23c-4c31-a1c1-43be722aa901&WebsiteKey=2cf3f2bb-d28a-4dc5-8f63-31dd7c3ffbc7
Ross, S. A., Westerfield, R. W., Jaffe, J. F., & Jordan, B. D. (2018). Corporate Finance - Core Principles & Applications (Fifth). New York: Mc Graw Hill Education.
Salaber, J. M. (2007). The Determinants of Sin Stock Returns: Evidence on the European Market.
HAL-SHS. https://doi.org/10.2139/ssrn.1071746
Sharfman, M. P., & Fernando, C. S. (2008). Environmental Risk Management and the Cost of Capital. 29, 569–592. https://doi.org/10.1002/smj.678
Skat.dk. (2019). Skat.dk: 4.1.2.2. Risikofri rente. Retrieved July 12, 2019, from
86 https://skat.dk/skat.aspx?oid=1813218
Spence, M. (1973). Job Market Signaling. The Quarterly Journal of Economics, 87(3), 355–374.
https://doi.org/10.2307/1882010
Sprinkle, G. B., & Maines, L. A. (2010). The Benefits and Costs of Corporate Social Responsibility. Business Horizons, 53(5), 445–453.
https://doi.org/10.1016/j.bushor.2010.05.006
Stellner, C., Klein, C., & Zwergel, B. (2015). Corporate social responsibility and Eurozone corporate bonds: The moderating role of country sustainability. Journal of Banking and Finance, 59, 538–549. https://doi.org/10.1016/j.jbankfin.2015.04.032
Stock, J. H., & Watson, M. M. (2012). Introduction to Econometrics (Third). Essex: Pearson Education Limited.
Stubager, R., & Sønderskov, K. M. (2011). Forudsætninger for Lineær Regression og Variansanalyse. Institut for Statskundskab - Aarhus Universitet, (5). Retrieved from https://pure.au.dk/portal/files/45475786/Foruds_tninger_5.udg.pdf
Stubbs, W., & Rogers, P. (2013). Lifting the Veil on Environment-Social-Governance Rating Methods. Social Responsibility Journal, 9(4), 622–640. https://doi.org/10.1108/SRJ-03-2012-0035
Thomson Reuters. (2019). Thomson Reuters ESG scores. Retrieved from
https://www.refinitiv.com/content/dam/gl/en/documents/methodology/esg-scores-methodology.pdf
Universal Human Rights Index. (2019). Retrieved July 10, 2019, from https://uhri.ohchr.org/en/
Vigneau, L., Humphreys, M., & Moon, J. (2015). How Do Firms Comply with International Sustainability Standards? Processes and Consequences of Adopting the Global Reporting Initiative. Journal of Business Ethics, 131(2), 469–486. https://doi.org/10.1007/s10551-014-2278-5
Waddock, S. A., & Graves, S. B. (1997). The Corporate Social Performance - Financial Performance. Strategic Management Journal, 18(4), 303–319.
https://doi.org/https://www.jstor.org/stable/3088143
Wazir, B. (2011). Nike accused of tolerating sweatshops. Retrieved July 9, 2019, from The
87 Guardian website: https://www.theguardian.com/world/2001/may/20/burhanwazir.theobserver Wimmer, D. (2019). Er du klar til 2019 og de nye forbrugere? Retrieved July 8, 2019, from
http://retailinstitute.dk/er-du-klar-til-2019-og-de-nye-forbrugere/
88