The Financial Performance of Socially Responsible Investments: Insights from the Intertemporal CAPM

The Financial Performance of Socially Responsible Investments: Insights from the Intertemporal CAPM This study formulates a two-factor empirical model under the intertemporal CAPM framework to evaluate the cross-sectional implications of socially responsible investments in the US equity market. Our results show that socially responsible investments have no asset pricing impact on the US market. We argue that this ‘no financial impact’ finding indicates that investors will not be disadvantaged financially by investing in socially responsible funds or corporations. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Business Ethics Springer Journals

The Financial Performance of Socially Responsible Investments: Insights from the Intertemporal CAPM

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Publisher
Springer Netherlands
Copyright
Copyright © 2015 by Springer Science+Business Media Dordrecht
Subject
Philosophy; Ethics; Business and Management, general; Management; Business Ethics; Quality of Life Research
ISSN
0167-4544
eISSN
1573-0697
D.O.I.
10.1007/s10551-015-2894-8
Publisher site
See Article on Publisher Site

Abstract

This study formulates a two-factor empirical model under the intertemporal CAPM framework to evaluate the cross-sectional implications of socially responsible investments in the US equity market. Our results show that socially responsible investments have no asset pricing impact on the US market. We argue that this ‘no financial impact’ finding indicates that investors will not be disadvantaged financially by investing in socially responsible funds or corporations.

Journal

Journal of Business EthicsSpringer Journals

Published: Oct 20, 2015

References

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