Skip navigation
Skip navigation

Does it cost to be sustainable?

Humphrey, Jacquelyn; Lee, Darren D; Shen, Yaokan

Description

We investigate whether firms' corporate social performance (CSP) ratings impact their performance (cost of capital) and risk. Using a proprietary CSP ratings database, we find no difference in the risk-adjusted performance of UK firms with high and low CSP ratings. Additionally, the firms do not differ in their amount of idiosyncratic risk. We find some evidence of high-ranked firms being larger. The empirical evidence therefore indicates that investors and managers are able to implement a CSP...[Show more]

CollectionsANU Research Publications
Date published: 2012
Type: Journal article
URI: http://hdl.handle.net/1885/31708
Source: Journal of Corporate Finance
DOI: 10.1016/j.jcorpfin.2012.03.002

Download

File Description SizeFormat Image
01_Humphrey_Does_it_cost_to_be_2012.pdf201.66 kBAdobe PDF    Request a copy


Items in Open Research are protected by copyright, with all rights reserved, unless otherwise indicated.

Updated:  20 July 2017/ Responsible Officer:  University Librarian/ Page Contact:  Library Systems & Web Coordinator