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The drivers of the relationship between corporate environmental performance and stock market returns
16 references·6 citing·24 second hop
The drivers of the relationship between corporate environmental performance and stock market returns (2012)The drivers of the relationship between c…The impact of corporate social responsibility on the cost of bank loans (2010)The impact of corporate socia…Strategic management a stakeholder approach (2010)Strategic management a stakeh…The price of sin: The effects of social norms on markets (2009)The price of sin: The effects…The Social Responsibility of Business Is to Increase Its Profits (2007)The Social Responsibility of …Value Maximisation, Stakeholder Theory, and the Corporate Objective Function (2001)Value Maximisation, Stakehold…Corporate Social Responsibility: A Theory of the Firm Perspective (2001)Corporate Social Responsibili…On Persistence in Mutual Fund Performance (1997)On Persistence in Mutual Fund…A RESOURCE-BASED PERSPECTIVE ON CORPORATE ENVIRONMENTAL PERFORMANCE AND PROFITABILITY. (1997)A RESOURCE-BASED PERSPECTIVE …The Stakeholder Theory of the Corporation: Concepts, Evidence, and Implications (1995)The Stakeholder Theory of the…INSTRUMENTAL STAKEHOLDER THEORY: A SYNTHESIS OF ETHICS AND ECONOMICS (1995)INSTRUMENTAL STAKEHOLDER THEO…Green and competitive: ending the stalemate (1995)Green and competitive: ending…Common risk factors in the returns on stocks and bonds (1993)Common risk factors in the re…A Simple Model of Capital Market Equilibrium with Incomplete Information (1987)A Simple Model of Capital Mar…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…THE PERFORMANCE OF MUTUAL FUNDS IN THE PERIOD 1945–1964 (1968)THE PERFORMANCE OF MUTUAL FUN…CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)CAPITAL ASSET PRICES: A THEOR…The contributions of betas versus characteristics to the ESG premium (2023)The contributions of betas ve…Does the Stock Market Value Inclusion in a Sustainability Index? Evidence from Borsa Istanbul (2020)Does the Stock Market Value I…State Pension Funds and Corporate Social Responsibility: Do Beneficiaries’ Political Values Influence Funds’ Investment Decisions? (2019)State Pension Funds and Corpo…Responsible or Thematic? The True Nature of Sustainability-Themed Mutual Funds (2019)Responsible or Thematic? The …European Pension Funds and Sustainable Development: Trade‐Offs between Finance and Responsibility (2017)European Pension Funds and Su…An equation with many variables: unhiding the relationship between sustainability and investment performance (2014)An equation with many variabl…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)The Framing of Decisions and the Psychology of Choice (1981)The Limits of Arbitrage (1995)The Cross‐Section of Volatility and Expected Returns (2006)The Nature of the Firm (1937)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Corporate Social and Financial Performance: A Meta-Analysis (2003)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)Firm Resources and Sustained Competitive Advantage (1991)Firm resources and sustained competitive advantage (2004)Why would corporations behave in socially responsible ways? an institutional theory of corporate social responsibility (2007)Voluntary Nonfinancial Disclosure and the Cost of Equity Capital: The Initiation of Corporate Social Responsibility Reporting (2010)A resource‐based view of the firm (1984)PERFORMANCE, SLACK, AND RISK TAKING IN ORGANIZATIONAL DECISION MAKING. (1986)A Natural-Resource-Based View of the Firm (1995)Misery Loves Companies: Rethinking Social Initiatives by Business (2003)The Pricing of Options and Corporate Liabilities (1973)A Stakeholder Framework for Analyzing and Evaluating Corporate Social Performance (1995)Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of who and What Really Counts (1997)Multifactor Explanations of Asset Pricing Anomalies (1996)The pyramid of corporate social responsibility: Toward the moral management of organizational stakeholders (1991)
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References

  • 1993Common risk factors in the returns on stocks and bonds26,615 cited
  • 2010Strategic management a stakeholder approach24,023 cited
  • 1964CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK*19,431 cited
  • 1997On Persistence in Mutual Fund Performance17,267 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 2007The Social Responsibility of Business Is to Increase Its Profits11,534 cited
  • 1995The Stakeholder Theory of the Corporation: Concepts, Evidence, and Implications9,170 cited
  • 2001Corporate Social Responsibility: A Theory of the Firm Perspective7,563 cited
  • 1987A Simple Model of Capital Market Equilibrium with Incomplete Information5,808 cited
  • 1997A RESOURCE-BASED PERSPECTIVE ON CORPORATE ENVIRONMENTAL PERFORMANCE AND PROFITABILITY.4,813 cited
  • 1968THE PERFORMANCE OF MUTUAL FUNDS IN THE PERIOD 1945–19644,330 cited
  • 1995Green and competitive: ending the stalemate4,209 cited
  • 1995INSTRUMENTAL STAKEHOLDER THEORY: A SYNTHESIS OF ETHICS AND ECONOMICS3,104 cited
  • 2009The price of sin: The effects of social norms on markets2,600 cited
  • 2001Value Maximisation, Stakeholder Theory, and the Corporate Objective Function

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2,289 cited
  • 2010The impact of corporate social responsibility on the cost of bank loans2,099 cited
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    • 2019State Pension Funds and Corporate Social Responsibility: Do Beneficiaries’ Political Values Influence Funds’ Investment Decisions?47 cited
    • 2019Responsible or Thematic? The True Nature of Sustainability-Themed Mutual Funds35 cited
    • 2017European Pension Funds and Sustainable Development: Trade‐Offs between Finance and Responsibility31 cited
    • 2014An equation with many variables: unhiding the relationship between sustainability and investment performance23 cited