Saints versus sinners. Does morality matter?
| dc.contributor.author | Durand, Robert B | |
| dc.contributor.author | Koh, Sze | |
| dc.contributor.author | Limkriangkrai, Manapon | |
| dc.date.accessioned | 2017-01-30T13:41:07Z | |
| dc.date.available | 2017-01-30T13:41:07Z | |
| dc.date.created | 2013-02-13T20:00:33Z | |
| dc.date.issued | 2013 | |
| dc.identifier.citation | Durand, Robert B. and Koh, SzeKee and Limkriangkrai, Manapon. 2013. Saints versus sinners. Does morality matter? Journal of International Financial Markets, Institutions & Money. 24: pp. 166-183. | |
| dc.identifier.uri | http://hdl.handle.net/20.500.11937/34073 | |
| dc.identifier.doi | 10.1016/j.intfin.2012.12.002 | |
| dc.description.abstract |
Social norms constrain investors from investing in “sin stocks”, affecting the returns and corporate financial policies of such firms (Hong and Kacperczyk, 2009). This paper finds that “Saints” are influenced by social norms. In almost all instances, where an effect on “Sinners” is positive (negative), we find that the effect for ‘Saints’ is negative (positive). Hong and Kacperczyk provide evidence that social norms prevent ‘evil’ outcomes. This paper finds that social norms exert positive pressure on both investors and firms in the US equity market. | |
| dc.publisher | Elsevier BV North-Holland | |
| dc.subject | Socially responsible investing | |
| dc.subject | MSCI KLD400 Social Index | |
| dc.subject | Asset pricing | |
| dc.subject | Portfolio choice | |
| dc.title | Saints versus sinners. Does morality matter? | |
| dc.type | Journal Article | |
| dcterms.source.volume | 24 | |
| dcterms.source.startPage | 166 | |
| dcterms.source.endPage | 183 | |
| dcterms.source.issn | 1873-0612 | |
| dcterms.source.title | Journal of International Financial Markets, Institutions & Money | |
| curtin.department | ||
| curtin.accessStatus | Fulltext not available |