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Paper: eres2009_176
| Paper title: | Why Companies Rent Green: CSR and The Role of Real Estate |
| Authors: | Kok, Nils, Eichholtz, Piet; Quigley, John M. |
| Summary: | We conduct a quantitative study to explain why firms lease commercial office space in buildings with a green label – as this implies paying a rental premium. Based on a literature review, we construct a theoretical framework of drivers underlying corporate social responsibility. We formulate five propositions that explain why specific industries may be more willing to lease green. Then, we test these propositions using a sample of 11,000 unique tenants in approximately 5,000 office buildings, of which 1,100 buildings have a green label. We find that corporations in the oil and banking industry, as well as government-related organization, are among the most prominent green tenants. The empirical analysis shows that tenants in these industry groups are significantly more likely to rent green office space. |
| Type: | |
| Year of publication: | 2009 |
| Series: | ERES:conference |
| Download paper: | /pdfs/eres2009_176.content.ppt |
| Citation: | Kok, Nils, Eichholtz, Piet; Quigley, John M. (2009). Why Companies Rent Green: CSR and The Role of Real Estate. 16th Annual European Real Estate Society Conference in Stockholm, Sweden, http://itc.scix.net/paper/eres2009_176 |
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W78
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