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Ethical Investing Studies/Research |
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Key
findings -- by release date
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Efficiently weighted indices can lead to SRI
outperformance – EDHEC, by Nina Röhrbein,
January 17, 2012, IPE, France.
Socially Responsible Investing, by Olivia S.
Jung, January 12, 2012, Wharton, University of
Pennsylvania, USA.
Market Interest in Nonfinancial Information, by
Robert G. Eccles, Michael P. Krzus, and George
Serafeim, September 2011, Harvard Business School,
USA.
Shareholder Voting and Corporate Governance Around
the World. Authors: Peter Iliev, Pennsylvania
State University; Karl V. Lins, University of Utah;
Darius P. Miller, Southern Methodist University;
Lukas Roth, January 13, 2011, University of Alberta,
USA/Canada.
The Ethical and Non Ethical Mutual Funds Comparison,
by Rosa Adamo, Angela Coscarelli, Domenica Federico
and Antonella Notte, American Journal of Economics
and Business Administration, Volume 2, Issue 4, USA.
The Impact of Faith-Based Screens on Investment
Performance, by Esmeralda O. Lyn and Edward J.
Zychowicz of the Frank G. Zarb School of Business,
Hofstra University, Hempstead, NY, USA.
Exploring the Cost of Investing in Socially Responsible
Mutual Funds: An Empirical Study, by David M.
Blanchett, July 21, 2010, The Journal of Investing,
USA.
A Tale of Values-Driven and Profit-Seeking Social
Investors, by Jeroen Derwall, Kees Koedijk, and
Jenke Ter Horst, July 13, 2010, School of Economics
and Management, Tilburg University, The Netherlands.
Socially Responsible Investment Fund Performance:
The Impact of Screening Intensity, by Darren
David Lee, Jacquelyn Humphrey, and Karen L.
Benson--all at University of Queensland, Australia,
and Jason Ahn. June 2010, Accounting and Finance,
Australia.
Portfolio Diversification and Environmental, Social
or Governance Criteria: Must Responsible Investments
Really Be Poorly Diversified? By Andreas G. F.
Hoepner, University of St. Andrews - School of
Management, Principles for Responsible Investment,
United Nations.
From Fiduciary Duties to Fiduciary Relationships for
Socially Responsible Investment, by Benjamin J.
Richardson, Osgoode Hall Law School, York University,
Canada, May 2010.
E.S.G. Risk Factors in a Portfolio Context. by
Dr Steffen Hörter, Dr. Wolfgang Mader and Barbara
Menzinger, risklab (a division of Allianz Global
Investors), March 2010.
Who lets ethics guide his economic decision-making? An
empirical analysis of individual investments in ethical
funds, by Jenny Säve-Söderbergh, The Swedish
Institute for Social Research, Stockholm University,
February 2010, Sweden.
Socially Responsible Investing vs. Vice Investing,
by Hoje Jo, Roopali Sharma and Sylvie Wright, all at
Santa Clara University, and Tamanna Saha of New York
University, February 2010, USA.
Information Asymmetry and Socially Responsible
Investment, by
Mark Jonathan Rhodes, December 20, 2009, Journal of
Business Ethics, Netherlands.
Shareholder Activism and Socially Responsible Investors:
Equilibrium changes in asset prices and corporate
behavior, by Christian Gollier and Sébastien Pouget,
September 7, 2009, Toulouse School of Economics,
France.
Vice versus virtue, by Sebastian Lobe, Stefan Roithmeier,
and Christian Walkshäusl, August 2009, University of Regensburg,
Germany.
The Wages of Social Responsibility, by Meir
Statman and Denys Glushkov, July/August, 2009,
Financial Analysts Journal, Vol. 65, No. 4:
33-46, USA.
Are Ethical Investments Good? By Gariet Chow,
Robert B. Durand, and SzeKee Koh, University of
Western Australia, Australia.
Sin Stock Returns Over the Business Cycle, by
Julie M. Salaber
University of Bath School of Management, UK.
EDHEC: No alpha from SRI funds for Europeans, by
Barry B. Burr, March 9, 2009, Pensions &
Investments, USA.
Achieving Consistency and Coherence in Socially
Responsible Investment, by Ville-Pekka Sorsa,
December 19, 2008, School of Geography and the
Environment, University of Oxford, UK.
‘SRI funds not outperforming.’ (Though not
underperforming either.) By Sophie Grene, December
14, 2008, Financial Times, UK.
Green investing proves a winning strategy - study,
by Martin de Sa'Pinto,
November 13, 2008, Reuters, Switzerland.
Is Socially Responsible Investment Profitable? by
Jiro Yoshida, October 2008, University of Tokyo, Japan.
Higher Dividends and Lower Volatility in Values
Based Investing, commentary by Jose Rasco,
October 2008, Merrill Lynch, USA.
Sin Stock Returns, by Frank J. Fabozzi, K.C. Ma,
and Becky J. Oliphant, fall 2008, The Journal of
Portfolio Management, USA.
The Cost of Socially Responsible Investing, by Mark
Kritzman and Tim Adler, Summer 2008, Windham Capital
Management, LLC, USA.
Ethical funds on level footing with counterparts,
by Stefanie Ives, March 27, 2008, FT Advisor,
UK.
UNEP Finance Initiative - Demystifying Responsible
Investment Performance. (PDF -1.2 MB) Key academic and broker
research on environmental, social and governance (ESG)
factors and investment performance.
Board connections and mutual fund returns, by
Lauren Cohen, Andrea Frazzini, and Christopher
Malloy, February 2008, National Bureau of Economic Research, USA.
Imitate or Differentiate? Evaluating the validity of
corporate social responsibility ratings, by
Aaron K. Chatterji, Fuqua School of Business, Duke
University and David I. Levine, Haas School of
Business, University of California, Berkeley,
February 2008, USA.
Ethical funds' exposure not so green, by Tom
Stevenson, February 6, 2008, The Daily Telegraph,
UK.
IMCA Journal of Investment Consulting Publishes New
Paper on Socially Responsible Investments,
November 7, 2007, Marketwire.com, USA.
The Impact of Ethical Rating on Canadian Security
Performance: Portfolio Management and Corporate
Governance Implications, by Klaus P. Fischer,
and Nabil Khoury of the University of Quebec at
Montreal - Faculty of Management, September 24,
2007, Canada.
The Price of Ethics: Evidence from Socially
Responsible Mutual Funds, by Luc Renneboog,
Jenke ter Horst, Chendi Zhang, published by the
Social Science Research Network.
Socially Responsible Investments, by Meir
Statman, Glenn Klimek Professor of Finance, Santa
Clara University, California, June 2007, USA.
THOMSON EXTEL AND THE UK SOCIAL INVESTMENT FORUM
ANNOUNCE RESULTS OF THE SRI & SUSTAINABILITY SURVEY,
June 29, 2007, UK. (Analyzes the ethical investing
research capabilities of investment banks and
stock-brokerages.)
SRI screens have little impact on returns: study
by Steven Lamb, March 12, 2007, Advisor.ca, Canada.
The
Determinants of Sin Stock Returns: Evidence on the European Market,
by Julie M. Salaber, University of Bath School of Management, November
1, 2007, UK.
Most
investment managers see SRI (Socially Responsible Investing or Ethical
Investing) practices becoming mainstream, Mercer
Investment Consulting, Press Release, April 7, 2005, Canada.
Are socially
responsible investors different from conventional investors? A
comparison across six countries, by Geoffrey Williams, Associate
Professor of Financial Economics,
Nottingham University Business School, December 2005.
Many more studies are available at:
SRI Studies
Corporate
Social Responsibility
- Research/Studies
Key
findings
If a link does
not work, please
e-mail us. Link may
only be valid a limited time.
Do Markets Value Corporate Social Responsibility in
the United Kingdom? By Graham Buckingham, Alan
Gregory, and Julie M. Whittaker, December 2011,
University of Exeter, UK.
The Impact of a Corporate Culture of Sustainability
on Corporate Behavior and Performance, by Robert
Eccles and George Serafeim of the Harvard Business
School and Ioannis Ioannou, London Business School,
November 4, 2011. USA/UK.
Does Corporate Social Responsibility Affect the Cost of Capital?
(2011 Moskowitz Prize winner.) By
Sadok El Ghoul, Omrane Guedhami, Chuck C. Y. Kwok, and Dev R. Mishra,
Journal of Banking & Finance, September 2011, USA.
Corporate Social Responsibility for Irresponsibility, by Matthew J.
Kotchen and Jon Jungbien Moon, National Bureau of Economic
Research (NBER), July 2011, USA.
Environmental Externalities and Cost of Capital, by
Sudheer Chava, Georgia Institute of Technology - College of Management,
June 2011, USA.
Do Corporations Invest Enough in Environmental Responsibility? By Yongtae Kim and Meir Statman, Journal of Business Ethics, June 2011,
USA.
Hard to tell whether CSR has a positive effect on
profitability or not, by Cristiana Manescu, University of Gothenburg,
December 6, 2010,
Sweden.
French Corporate Social Responsibility: Which Dimension Pays More?
by Abraham Lioui, Professor of Finance, EDHEC Business School and
Member, EDHEC-Risk Institute, and Laetitia Drusch, Assistant, Mazars,
June 2010, France.
The
Economics and Politics of Corporate Social Performance, by David P.
Baron, Stanford Graduate School of Business; Maretno A. Harjoto
Pepperdine University - Graziadio School of Business and Management; and
Hoje Jo, Santa Clara University. April 9, 2009, USA. This study won the
prestigious 2009 Moskowitz Prize for Socially Responsible Investing.
IBM, Tesco and Dell Receive Top Scores in First-Ever Ranking of Consumer
& Tech Companies on Climate Change Strategies, December 11, 2008,
Ceres, USA.
A European Survey on Corporate Social Responsibility, by Jan
Stentoft Arlbjørn, Professor, PhD; Bent Warming-Rasmussen, Associate
Professor, PhD; Dennis van Liempd, PhD student; and Ole Stegmann
Mikkelsen, external lecturer—University of Southern Denmark, December
8, 2008, Denmark.
How Firms Respond to Being Rated, by Aaron K. Chatterji, Fuqua
School of Business, Duke University and Michael W. Toffel, Harvard
Business School, August 28, 2008, USA.
Corporate Social Responsibility through an Economic Lens, Harvard University, Kennedy School of Government, Faculty Research
Working Paper Series, April 2008, USA.
Corporate social responsibility increases company
value, February 11, 2008, Innovations Report.
Download all or part of this
Ph.D
thesis by Lammertjan Dam, "Corporate social responsibility and financial
markets," University of Groningen, Netherlands.
US firms fall behind Europe in ethical standards,
says Eiris, by Sean O'Grady, September 15, 2007,
The Independent, UK.
How Well do Social Ratings Actually Measure Corporate Social
Responsibility? By Aaron K. Chatterji, Fuqua
School of Business, Duke University; David I. Levine, Haas School of
Business, University of California at Berkeley; Michael W. Toffel,
Harvard Business School, June 7, 2007, USA.
Social Responsibility,
International Standards Association, May 2007.
Study slams ‘trivial’
corporate social responsibility reports, by Rob Edwards, Environment Editor,
June 25, 2006, Sunday Herald (Scotland).
ASQ Poll
Shows U.S. Companies Lag, but Executives See the Advantage of Using
Corporate Social Responsibility, March 08, 2006,
Moskowitz Prize Study Links Strong
Corporate Social Performance with Financial Results, by William
Baue, CSRWire, October 26, 2004, USA.
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