Governmental and scientific news and insights on investor oriented environmental, social, and governance (ESG) data.

Investment Professionals’ Use of Corporate Social Responsibility Disclosures

We conduct an experiment to examine investment professionals’ use of corporate social responsibility (CSR) disclosures when making personal investment decisions or investment recommendations to clients. We predict and find that investment professionals are more willing to personally invest and recommend investment to a client when a firm discloses positive CSR performance than when it makes [...]

By |2017-09-01T09:07:36+00:00September 1st, 2017|CSR, ESG, Firm Value, Indicators, Investors|0 Comments

Corporate Environmental Policy and Shareholder Value: Following the Smart Money

We examine the value consequences of corporate social responsibility through the lens of institutional shareholders. We find a sharp asymmetry between corporate policies that mitigate the firm’s exposure to environmental risk and those that enhance its perceived environmental friendliness (“greenness”). Institutional investors shun stocks with high environmental risk exposure, which we show have lower valuations [...]

By |2017-09-01T09:04:03+00:00September 1st, 2017|Environmental, Firm Value, Indicators, Investors|0 Comments