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dc.contributor.authorHumphrey, Jacquelyn E.
dc.contributor.authorLee, Darren D.
dc.contributor.authorShen, Yaokan
dc.date.accessioned2017-10-09T12:31:04Z
dc.date.available2017-10-09T12:31:04Z
dc.date.issued2012
dc.identifier.issn0929-1199
dc.identifier.doi10.1016/j.jcorpfin.2012.03.002
dc.identifier.urihttp://hdl.handle.net/10072/345004
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.description.peerreviewedYes
dc.languageEnglish
dc.language.isoeng
dc.publisherElsevier
dc.relation.ispartofpagefrom626
dc.relation.ispartofpageto639
dc.relation.ispartofissue3
dc.relation.ispartofjournalJournal of Corporate Finance
dc.relation.ispartofvolume18
dc.subject.fieldofresearchBanking, Finance and Investment not elsewhere classified
dc.subject.fieldofresearchBanking, Finance and Investment
dc.subject.fieldofresearchcode150299
dc.subject.fieldofresearchcode1502
dc.titleDoes it cost to be sustainable?
dc.typeJournal article
dc.type.descriptionC1 - Articles
dc.type.codeC - Journal Articles
gro.hasfulltextNo Full Text
gro.griffith.authorLee, Darren


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