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An Empirical Study of the World Price of Sustainability
16 references·4 citing·33 second hop
An Empirical Study of the World Price of Sustainability (2012)An Empirical Study of the World Price of …Academy of Management Journal (2013)Academy of Management JournalThe price of sin: The effects of social norms on markets (2009)The price of sin: The effects…Socially responsible investments: Institutional aspects, performance, and investor behavior (2008)Socially responsible investme…The Social Responsibility of Business Is to Increase Its Profits (2007)The Social Responsibility of …The Eco-Efficiency Premium Puzzle (2005)The Eco-Efficiency Premium Pu…International evidence on ethical mutual fund performance and investment style (2004)International evidence on eth…The Effect of Green Investment on Corporate Behavior (2001)The Effect of Green Investmen…An Empirical Investigation of the Relationship Between Change in Corporate Social Performance and Financial Performance: A Stakeholder Theory Perspective (2001)An Empirical Investigation of…THE CORPORATE SOCIAL PERFORMANCE-FINANCIAL PERFORMANCE LINK (1997)THE CORPORATE SOCIAL PERFORMA…The Corporate Social Performance and Corporate Financial Performance Debate (1997)The Corporate Social Performa…Green and competitive: ending the stalemate (1995)Green and competitive: ending…It's not Easy Being Green (1994)It's not Easy Being GreenCommon risk factors in the returns on stocks and bonds (1993)Common risk factors in the re…Corporate Social Responsibility and Financial Performance (1984)Corporate Social Responsibili…On the Measurement of Corporate Social Responsibility: Self-Reported Disclosures as a Method of Measuring Corporate Social Involvement (1979)On the Measurement of Corpora…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…Expected and realized returns on stocks with high- and low-ESG exposure (2021)Expected and realized returns…The global pricing of environmental, social, and governance (ESG) criteria (2020)The global pricing of environ…The Impacts of Environmental, Social, and Governance Factors on Firm Performance: Panel Study of Malaysian Companies (2019)The Impacts of Environmental,…Value relevance of environmental, social and governance disclosure (2018)Value relevance of environmen…CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Cross-Section of Expected Stock Returns (1992)Illiquidity and stock returns: cross-section and time-series effects (2002)A five-factor asset pricing model (2014)A Survey of Corporate Governance (1997)On Persistence in Mutual Fund Performance (1997)Corporate social responsibility and stakeholder value maximization: Evidence from mergers (2013)Sustainable investing in equilibrium (2020)The role of ESG performance during times of financial crisis: Evidence from COVID-19 in China (2020)The Behavior of Stock-Market Prices (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)A Three-Dimensional Conceptual Model of Corporate Performance (1979)Competitive Strategy: Techniques for Analyzing Industries and Competitors (1980)Corporate Social Performance Revisited (1991)Corporate Social Responsibility: A Theory of the Firm Perspective (2001)Corporate Social and Financial Performance: A Meta-Analysis (2003)A Simple Model of Capital Market Equilibrium with Incomplete Information (1987)Does the stock market fully value intangibles? Employee satisfaction and equity prices (2011)Do Investors Care about Carbon Risk? (2019)CORPORATE SOCIAL RESPONSIBILITY AND FIRM FINANCIAL PERFORMANCE. (1988)The role of environmental disclosures as tools of legitimacy: A research note (2006)Corporate responsibility and financial performance: the role of intangible resources (2009)WHY COMPANIES GO GREEN: A MODEL OF ECOLOGICAL RESPONSIVENESS. (2000)Misery Loves Companies: Rethinking Social Initiatives by Business (2003)Corporate Social Responsibility Theories: Mapping the Territory (2004)Stakeholder influence capacity and the variability of financial returns to corporate social responsibility (2007)Corporate Sustainability: First Evidence on Materiality (2016)The pyramid of corporate social responsibility: Toward the moral management of organizational stakeholders (1991)A Stakeholder Framework for Analyzing and Evaluating Corporate Social Performance (1995)The Stakeholder Theory of the Corporation: Concepts, Evidence, and Implications (1995)Emotional Intelligence, Cognitive Intelligence, and Job Performance (2006)7 Emotion in Organizations (2007)Hidden Connections: The Link Between Board Gender Diversity and Corporate Social Performance (2012)
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References

  • 1993Common risk factors in the returns on stocks and bonds26,615 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 2007The Social Responsibility of Business Is to Increase Its Profits11,534 cited
  • 1997THE CORPORATE SOCIAL PERFORMANCE-FINANCIAL PERFORMANCE LINK6,756 cited
  • 2013Academy of Management Journal4,798 cited
  • 1995Green and competitive: ending the stalemate4,209 cited
  • 2009The price of sin: The effects of social norms on markets2,600 cited
  • 1997The Corporate Social Performance and Corporate Financial Performance Debate2,285 cited
  • 1984Corporate Social Responsibility and Financial Performance1,970 cited
  • 2008Socially responsible investments: Institutional aspects, performance, and investor behavior1,756 cited
  • 2001The Effect of Green Investment on Corporate Behavior1,498 cited
  • 1994It's not Easy Being Green1,437 cited
  • 2004International evidence on ethical mutual fund performance and investment style1,150 cited
  • 1979On the Measurement of Corporate Social Responsibility: Self-Reported Disclosures as a Method of Measuring Corporate Social Involvement1,047 cited
  • 2001An Empirical Investigation of the Relationship Between Change in Corporate Social Performance and Financial Performance: A Stakeholder Theory Perspective

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963 cited
  • 2005The Eco-Efficiency Premium Puzzle963 cited
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    • 2020The global pricing of environmental, social, and governance (ESG) criteria44 cited
    • 2018Value relevance of environmental, social and governance disclosure31 cited
    • 2021Expected and realized returns on stocks with high- and low-ESG exposure30 cited