Bibliographic citations
Hidalgo, A., (2021). Impacto de la regulación y fiscalización ambiental en las cotizaciones de las acciones de las empresas mineras (2010-2014) [Universidad Nacional Agraria La Molina]. https://hdl.handle.net/20.500.12996/4928
Hidalgo, A., Impacto de la regulación y fiscalización ambiental en las cotizaciones de las acciones de las empresas mineras (2010-2014) []. PE: Universidad Nacional Agraria La Molina; 2021. https://hdl.handle.net/20.500.12996/4928
@phdthesis{renati/1113411,
title = "Impacto de la regulación y fiscalización ambiental en las cotizaciones de las acciones de las empresas mineras (2010-2014)",
author = "Hidalgo Chavez, Alberto Antonio",
publisher = "Universidad Nacional Agraria La Molina",
year = "2021"
}
The objective of this study is to find the differentiated financial returns between the most environmentally responsible and the least responsible Peruvian mining companies, measured by their pollution levels, which will be verified with two hypotheses: the first one proposes that the interactions that companies have with the environment impact in the short term on the price of its shares; the second, indicates that these results can accumulate over time, generating differentiated returns between both groups. In the event that this difference favors less environmentally responsible companies, environmental regulation would not be effective. In this research, 2 methodologies were combined: the first has the objective of validating the efficiency of the markets and the second measures the profitability of the portfolios. The results found were mixed: on the one hand, it was shown that the current regulation for the mining industry between 2010-2014 in Peru is effective, allowing to discourage high levels of contamination; on the other hand, mining companies with average polluting practices present higher returns than more environmentally responsible mining companies. A greater predisposition to pollute was also found when metal prices tend to rise.
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