The financial performance of socially responsible investments: insights from the intertemporal CAPM

Xiao, Yuchao, Faff, Robert, Gharghori, Philip and Min, Byoung-Kyu 2017, The financial performance of socially responsible investments: insights from the intertemporal CAPM, Journal of business ethics, vol. 146, no. 2, pp. 353-364, doi: 10.1007/s10551-015-2894-8.

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Title The financial performance of socially responsible investments: insights from the intertemporal CAPM
Author(s) Xiao, Yuchao
Faff, Robert
Gharghori, Philip
Min, Byoung-Kyu
Journal name Journal of business ethics
Volume number 146
Issue number 2
Start page 353
End page 364
Total pages 12
Publisher Springer
Place of publication New York, N.Y.
Publication date 2017-10
ISSN 0167-4544
1573-0697
Keyword(s) Socially responsible investments
intertemporal CAPM
Asset pricing
Economic tracking
portfolios
Summary © 2015 Springer Science+Business Media Dordrecht 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.
Language eng
DOI 10.1007/s10551-015-2894-8
Field of Research 150299 Banking, Finance and Investment not elsewhere classified
220102 Business Ethics
1503 Business And Management
2201 Applied Ethics
1505 Marketing
Socio Economic Objective 970115 Expanding Knowledge in Commerce, Management, Tourism and Services
HERDC Research category C1 Refereed article in a scholarly journal
Copyright notice ©2015, Springer
Persistent URL http://hdl.handle.net/10536/DRO/DU:30079883

Document type: Journal Article
Collections: School of Accounting, Economics and Finance
Department of Finance
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