GIUV2022-524
EFICO is a research group dedicated to the study of sustainable finance, ESG (Environmental, Social and Governance) criteria, sound corporate governance, gender diversity on boards of directors, and the mitigation of greenwashing. Its mission is to analyze, research, train, and transfer knowledge in the field of ESG principles, in line with the United Nations Sustainable Development Goals (SDGs) promoted under the 2030 Agenda. The research team that forms part of this group specializes in the study of corporate governance and decision-making processes in financial, economic, and control contexts. Its research lines focus particularly on the sustainability and transparency of socially responsible companies, as well as on the design of sustainable corporate strategies. Furthermore, the group examines the impact of gender diversity on the decision-making and supervisory bodies of listed companies - mainly within the European context - and its influence on corporate financial and economic decisions. Likewise, the group addresses the creation of sustainable long-term value and wealth, promoting the responsible use of resources and environmental protection, while also analyzing the...EFICO is a research group dedicated to the study of sustainable finance, ESG (Environmental, Social and Governance) criteria, sound corporate governance, gender diversity on boards of directors, and the mitigation of greenwashing. Its mission is to analyze, research, train, and transfer knowledge in the field of ESG principles, in line with the United Nations Sustainable Development Goals (SDGs) promoted under the 2030 Agenda. The research team that forms part of this group specializes in the study of corporate governance and decision-making processes in financial, economic, and control contexts. Its research lines focus particularly on the sustainability and transparency of socially responsible companies, as well as on the design of sustainable corporate strategies. Furthermore, the group examines the impact of gender diversity on the decision-making and supervisory bodies of listed companies - mainly within the European context - and its influence on corporate financial and economic decisions. Likewise, the group addresses the creation of sustainable long-term value and wealth, promoting the responsible use of resources and environmental protection, while also analyzing the risks and practices associated with greenwashing and the mechanisms to mitigate it. In this context, an increasing number of companies have incorporated sustainability as a central axis of their corporate strategy, establishing it as an essential element in long-term value creation. In the financial sphere, this integration has resulted in a growing prominence of sustainable finance, which provides investors with non-financial information through sustainability and integrated reports. These reports enable the assessment not only of economic performance but also of the organization's commitment to ESG principles. Moreover, responsible and sustainable investment is guided not only by traditional criteria such as risk, liquidity, and profitability, but also by the rising importance of ethics, transparency, and prosocial orientation among investors, who increasingly value the societal and environmental impact of their decisions. This research group has developed a consolidated scientific activity over the years, as evidenced by its publications in high-impact journals and its participation in competitive projects funded through public calls. The outcomes of these research efforts have materialized not only in high-level academic contributions but also in knowledge transfer initiatives directed toward the business sector. In this regard, the group has participated in various projects aimed at promoting corporate innovation and sustainability, several of which have been funded by the Valencian Institute for Competitiveness and Innovation (Ivace+i Innovación), formerly the Valencian Innovation Agency (AVI).
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- Conectar aspectos medioambientales, sociales y de gobernanza en las organizaciones con el fin de atender las necesidades empresariales y sociales
- Fomentar los principios de inversion responsable en las organizaciones, asi como las estrategias ambientales, sociales y de buena gobernanza
- Analizar los procesos de toma de decisiones y control de las empresas y analizar la composicion de los organos de gobierno corporativo
- Determinar el impacto de actividades ambientales, sociales y de gobernanza en los inversores mediante la inversion sostenible en mercados financieros
- Identificar los aspectos del buen gobierno que, con especial atención a la composición equilibrada en materia de género de los consejos, pueden contribuir a mitigar el greenwashing.
- Sustainable Finance and ESG Principles.This line of research focuses on the study, promotion, and application of sustainable finance and ESG (Environmental, Social, and Governance) principles as fundamental pillars for the responsible transformation of financial and business systems. Its purpose is to analyze how organizations integrate sustainability criteria into their investment, financing, and corporate management strategies, in alignment with the 2030 Agenda. Among its main objectives is the promotion of responsible investment through the identification, assessment, and dissemination of best practices that guide decision-making towards more ethical, transparent, and sustainable business models. Empirical analysis is primarily conducted on listed companies included in sustainability indices compiled by international rating agencies, which enables the examination of the relationship between financial performance, non-financial disclosure, and the genuine commitment to ESG principles. In doing so, this research line seeks to contribute to the advancement of knowledge on sustainable value creation, environmental and social risk management, and the consolidation of a corporate culture grounded in responsibility and transparency.
- Corporate Governance and Board Gender Diversity.This research line focuses on the analysis of the fundamental aspects of corporate governance and their influence on financial, economic, and control decision-making processes within firms. It examines how the structure and composition of governing bodies, internal policies, and oversight mechanisms affect the efficiency, transparency, and sustainability of strategic decisions. Particular emphasis is placed on gender diversity on boards of directors, exploring how a balanced representation of women and men contributes to enhancing the quality of corporate governance and shaping economic and financial decision-making. This line aims to identify patterns, benefits, and potential challenges associated with integrating diversity into decision-making bodies, as well as its impact on financial performance, risk management, and corporate reputation. Furthermore, the research analyzes the implications of these practices across different regulatory and cultural contexts, primarily focusing on publicly listed companies in Europe, with the objective of generating knowledge that promotes inclusive, responsible, and sustainability-oriented corporate governance.
- Greenwashing.This research line focuses on the analysis of greenwashing practices and how corporate governance mechanisms can help mitigate their effects within organizations. Greenwashing refers to the misleading communication of sustainable practices by companies, aimed at projecting a positive environmental or social image without a genuine commitment to ESG (Environmental, Social, and Governance) principles. The study examines how the structure, composition, and functioning of boards of directors can play a decisive role in preventing such practices. Particular attention is given to the beneficial effects of a well-balanced and diverse board, incorporating gender balance and complementary skills, thereby promoting transparency, accountability, and ethical, sustainable decision-making. Additionally, the research investigates internal oversight mechanisms, the adoption of rigorous disclosure policies, and the relationship between corporate governance and the credibility of disclosed ESG information. The ultimate goal is to generate knowledge that strengthens corporate integrity, fosters genuine sustainability practices, and reduces reputational and financial risks associated with greenwashing.
| Name | Nature of participation | Entity | Description |
|---|---|---|---|
| ALFREDO JUAN GRAU GRAU | Director | Universitat de València | |
| Research team | |||
| ELENA BADAL VALERO | Member | Universitat de València | |
| INMACULADA BEL OMS | Member | Universitat de València | |
| JANNY MAGDELINE NUÑEZ ALMONTE | Member | Universitat de València | |
| FRANCISCO JOSE CLIMENT DIRANZO | Collaborator | Universitat de València | |
| ANA ZORIO GRIMA | Collaborator | Universitat de València | |
| PALOMA MERELLO GIMENEZ | Collaborator | Universitat de València | |
| ROSA APARICIO GONZALEZ | Collaborator | Universitat de València | |
| ROSA APARICIO GONZALEZ | Collaborator | Universitat de València - Estudi General | UVEG PhD student |
| ANDREEA HANCU BUDUI | Collaborator | Universitat de València | |
| MARIA ANGELES ALCAIDE GONZALEZ | Collaborator | Universitat de València | |
| MANUEL CASTELO BRANCO | Collaborator | UNIVERSIDAD DE OPORTO | Full university professor |
| Mª DESAMPARADOS BLÁZQUEZ SORIANO | Collaborator | Universitat Politècnica de València | Permanent faculty |
| GEMMA ALBORT MORANT | Collaborator | Universidad de Sevilla | Tenured university professor |
| ELENA DE LA POZA PLAZA | Collaborator | Universitat Politècnica de València | Full university professor |
- Research and experimental development in the social sciencies and humanities
- Business Finance
