Does it cost to be sustainable?
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Altmetric Citations
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]
Collections | ANU Research Publications |
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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 |
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01_Humphrey_Does_it_cost_to_be_2012.pdf | 201.66 kB | Adobe PDF | Request a copy |
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