Share Market Return As Criteria for Multiple-Case Study Design of Sustainable Companies

Abstract

The aim of this paper is to develop a multiple-case study design (Yin, 2003) to consider those companies for the case studies which have the highest return on their shares over the time period of twenty years. The study provides criteria for the selection of companies that can go through multiple stages before its final selection. The study involves various steps that are used for shortlisting of companies that are most suitable for the purpose of the study of sustainable companies. The research finds that out of ET500 companies, there was data availability of 269 companies from January 1998 which was first cut in the selection criteria. Further adjusted monthly return on shares is calculated and then the average of each company's return and the market return (SENSEX) was calculated and companies having the adjusted return which is three times the return of SENSEX were further selected. Out of 269 companies, 59 companies were shortlisted in this step. At the last stage, 10 companies who contributed a full 2% of their average net profit towards CSR activities for at least three years out of the last four years from 2014-15 to 2017-18 are selected for the purpose of the case study. This paper sheds light on various steps that can be used as the methodology for the selection of companies for the purpose of qualitative study specifically multiple-case study.

Keywords: BSE Adjusted Return Dividend Bonus ET500 Multiple Case Study Design