, En conclusion, les tableaux 77 a et b synthétisent les actions, résultats et futures recherches identifiés en fonction des recommandations de l

, Les obligations juridiques des sociétés cotées en France en matière de reporting RSE sont exposées par le décret n° 2012-557 du 24 avril 2012 relatif aux obligations de transparence des entreprises en matière sociale et environnementale (JORF n°0099 du 26 avril 2012 page 7439, texte n° 18). Le décret est pris pour l'application de l'article 225 de la loi, Comparaison des informations RSE entre l'article 225 et le Gaïa-Index, vol.1, 2010.

, Les tableaux 1, 2 et 3 comparent les informations RSE reportées dans l'article 225 avec celles collectées par le questionnaire Gaïa-Index. Les relations entre l'article 225 et la méthode de notation RSE du GI

, Régression Valo_Gr = f(NoteGen_R, NoteGen_Gr_R, vol.1

, Régression Valo_Gr = f(NoteSocial_R, NoteSocial_Gr_R, vol.2

, La même configuration est observée dans les 2 tests : un effet faiblement négatif mais très significatif (p-value ** ou ***) de la note en niveau et un effet de magnitude plus importante mais moins significatif (p-value à la limite de la significativité) de la note en progression. Cette évidence empirique nécessiterait de futures recherches et interroge sur le modèle de valorisation de la RSE

, est intégrée, la NoteGen prend la valeur -3,318 + 1,831 × CAP_WORK. Autrement dit, l'effet d'interaction entre Valo_Gr et CAP_WORK tend à réduire l'effet négatif de la progression de la valorisation boursière sur la note

C. Sur, avec une modération de signe différent en fonction de la variable financière indépendante testée, ce qui nécessiterait de futures recherches pour expliquer l'effet du taux d'actionnariat salarié sur la relation RSE/FI. ? TurnOver et FI

?. Roc/eff-=-f,

?. Roc/eff_gr and =. ,

, ? InvestFormation et RSE, issue.1

, ? InvestFormation = f

, ? InvestFormation = f

, ? InvestFormation = f(NoteSocial, variables de contrôle

, ? InvestFormation = f

, ? InvestFormation = f(NotePPE, variables de contrôle

, ? InvestFormation et FI

. §3, Médiations avec la productivité de l'effectif (gamma'1)

?. Roceffectif and =. ,

?. Roceffectif and =. ,

?. Roceffectif and =. ,

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». Selon-le-modèle-théorique-de-la-«-rse-stratégique, définie comme un investissement dans la qualité des relations avec les parties-prenantes stratégiques de l'entreprise, s'intègre dans la logique économique de l'entreprise. Partant de l'hypothèse d'une corrélation universellement positive entre RSE et FI, la question se pose du processus et du contexte par lesquels cette création de valeur s'effectue : si la RSE est un investissement rentable, peut-on expliquer pourquoi et comment ? La base de données Gaïa-Index mise à disposition par l'agence de notation RSE française EthiFinance permet d'étudier cette question sur une population d'entreprises françaises cotées de taille moyenne (N=230) durant la période 2011-2013. Les résultats sont en cohérence avec le consensus théorique et empirique sur la RSE stratégique et montrent que le « facteur humain

, Mot-clés : RSE, stratégie, investissement, performance, capital humain