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dc.contributor.authorChow, G.
dc.contributor.authorDurand, Robert
dc.contributor.authorKoh, S.
dc.date.accessioned2017-01-30T10:37:57Z
dc.date.available2017-01-30T10:37:57Z
dc.date.created2014-11-16T20:00:33Z
dc.date.issued2014
dc.identifier.citationChow, G. and Durand, R. and Koh, S. 2014. Are Ethical Investments Good? Australian Journal of Management. 39 (4): pp. 645-665.
dc.identifier.urihttp://hdl.handle.net/20.500.11937/4286
dc.identifier.doi10.1177/0312896213516327
dc.description.abstract

Our study considers whether ethical investments are also good investments. In contrast with previous studies, we utilize long-run event study methodology to examine abnormal returns associated with firms being included in, and dropped from, the MSCI KLD400 Social Index (MSCIKLD400). We find that there are positive and statistically significant long-run abnormal returns for firms being included in the MSCI KLD400. These abnormal returns are associated with higher shareholdings by institutional investors (who are subject to higher public scrutiny), higher analyst coverage and higher growth opportunities.

dc.publisherSage Publications
dc.subjectsocially responsible investing
dc.subjectMSCI KLD400 Social Index
dc.subjectportfolio choice
dc.titleAre Ethical Investments Good?
dc.typeJournal Article
dcterms.source.volume39
dcterms.source.number4
dcterms.source.startPage645
dcterms.source.endPage665
dcterms.source.issn0312-8962
dcterms.source.titleAustralian Journal of Management
curtin.departmentSchool of Economics and Finance
curtin.accessStatusFulltext not available


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