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The independent effects of environmental, social and governance initiatives on the performance of UK firms

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


We investigate the effect of environmental, social and governance factors on the financial performance of UK firms. We examine the three factors separately to disentangle the relation of each with performance. We find no difference in the performance of firms with high or low environmental, social or governance rankings. The firms also do not differ in their systematic risks, book-to-market ratios or momentum exposures. However, high-rated firms are consistently larger. Our findings demonstrate...[Show more]

CollectionsANU Research Publications
Date published: 2012
Type: Journal article
Source: Australian Journal of Management
DOI: 10.1177/0312896211410081


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