Abstract

CASTILLO GIRON, Víctor Manuel; MACHUCA MARTINEZ, Manuel; AYALA RAMIREZ, Suhey  and  LOPEZ JIMENEZ, David. Ecotechnology in Mexican households: Hipoteca Verde’s program and its implications in real estate companies’ profitability. rev. econ. Caribe [online]. 2015, n.16, pp.45-72. ISSN 2011-2106.  https://doi.org/10.14482/ecoca.15.719.

The Hipoteca Verde program (HV) of the Institute of the National Housing Fund for Workers (Infonavit for its acronym in Spanish) of Mexico, is an additional compulsory credit -since 2011- looking to install eco-technologies in housing for the benefit of families and environment. Its main results and evaluations are favorable in the areas of loans placed, savings achieved, customer satisfaction and national and international recognition; however, there is no evidence of its impact on the profitability of the companies involved as their suppliers. This paper, based on microeconomic theory, studies linking corporate social responsibility (CSR) and financial performance, analyzes such impact on a deterministic sample of six companies listed on the Mexican Stock Exchange (BMV for its acronym in Spanish). The results show that there is a negative relationship between HV and the profitability ratios (RUN, ROA and ROE), which is explained because, theoretically, the HV behaves in the same way as does a buyer tax in the housing market.

Keywords : Hipoteca Verde; Sustainable Development; Corporate Social Responsibility (CSR); Buyer Tax; Profitability.

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