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Does it cost to be sustainable?

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dc.contributor.authorHumphrey, Jacquelyn
dc.contributor.authorLee, Darren D
dc.contributor.authorShen, Yaokan
dc.date.accessioned2015-12-08T22:19:47Z
dc.date.issued2012
dc.date.updated2016-02-24T11:13:35Z
dc.description.abstractWe 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 investment or business strategy without incurring any significant financial cost (or benefit) in terms of risk or return.
dc.identifier.issn0929-1199
dc.identifier.urihttp://hdl.handle.net/1885/31708
dc.publisherElsevier
dc.sourceJournal of Corporate Finance
dc.subjectKeywords: Corporate social performance; Environmental; Governance; Social; Sustainability
dc.titleDoes it cost to be sustainable?
dc.typeJournal article
local.bibliographicCitation.issue3 (June 2012)
local.bibliographicCitation.lastpage639
local.bibliographicCitation.startpage626
local.contributor.affiliationHumphrey, Jacquelyn, College of Business and Economics, ANU
local.contributor.affiliationLee, Darren D, University of Queensland
local.contributor.affiliationShen, Yaokan, University of Queensland
local.contributor.authoruidHumphrey, Jacquelyn, u4867228
local.description.embargo2037-12-31
local.description.notesImported from ARIES
local.identifier.absfor150201 - Finance
local.identifier.absseo900101 - Finance Services
local.identifier.ariespublicationu4602557xPUB85
local.identifier.citationvolume18
local.identifier.doi10.1016/j.jcorpfin.2012.03.002
local.identifier.scopusID2-s2.0-84859202892
local.identifier.thomsonID000300410300011
local.type.statusPublished Version

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