Matches in SemOpenAlex for { <https://semopenalex.org/work/W3122037887> ?p ?o ?g. }
- W3122037887 abstract "This paper explores stock market reactions to corporate social performance. We find that a value-weighted portfolio based on the list of “100 Best CSR companies in the world” published by Reputation Institute yields annual abnormal returns of 2.74% and 1.98%, by controlling for Carhart four factors and Fama French five factors, respectively. Moreover, such abnormal returns decrease as time goes, especially after the CSR lists were first published in 2013. The paper also indicates that companies with better social performance are more likely to have positive earnings surprises, and their returns are sensitive to earnings surprises. The results of this paper have three implications. First, CSR reputation can positively contribute to a firm’s short-term superior equity performance (i.e., factor-adjusted abnormal returns). Second, the CSR lists help the market correct mispricing of intangibles such as CSR reputation; the abnormal returns decrease as the market gradually learns about the value of firms’ social performance. Lastly, this paper contributes to the socially responsible investing (SRI) screens, a guide for investors who would like to do well by doing good." @default.
- W3122037887 created "2021-02-01" @default.
- W3122037887 creator A5010108137 @default.
- W3122037887 creator A5013759735 @default.
- W3122037887 creator A5023658727 @default.
- W3122037887 date "2018-01-01" @default.
- W3122037887 modified "2023-09-23" @default.
- W3122037887 title "A Learning Curve of the Market: Chasing Alpha of Socially Responsible Firms" @default.
- W3122037887 doi "https://doi.org/10.2139/ssrn.3224796" @default.
- W3122037887 hasPublicationYear "2018" @default.
- W3122037887 type Work @default.
- W3122037887 sameAs 3122037887 @default.
- W3122037887 citedByCount "4" @default.
- W3122037887 countsByYear W31220378872019 @default.
- W3122037887 crossrefType "journal-article" @default.
- W3122037887 hasAuthorship W3122037887A5010108137 @default.
- W3122037887 hasAuthorship W3122037887A5013759735 @default.
- W3122037887 hasAuthorship W3122037887A5023658727 @default.
- W3122037887 hasConcept C10138342 @default.
- W3122037887 hasConcept C106159729 @default.
- W3122037887 hasConcept C119857082 @default.
- W3122037887 hasConcept C121955636 @default.
- W3122037887 hasConcept C127413603 @default.
- W3122037887 hasConcept C141261163 @default.
- W3122037887 hasConcept C144024400 @default.
- W3122037887 hasConcept C144133560 @default.
- W3122037887 hasConcept C147598955 @default.
- W3122037887 hasConcept C151730666 @default.
- W3122037887 hasConcept C162324750 @default.
- W3122037887 hasConcept C17744445 @default.
- W3122037887 hasConcept C18903297 @default.
- W3122037887 hasConcept C199539241 @default.
- W3122037887 hasConcept C199728807 @default.
- W3122037887 hasConcept C204036174 @default.
- W3122037887 hasConcept C2776291640 @default.
- W3122037887 hasConcept C2777303722 @default.
- W3122037887 hasConcept C2780299701 @default.
- W3122037887 hasConcept C2780762169 @default.
- W3122037887 hasConcept C2780821815 @default.
- W3122037887 hasConcept C2781426361 @default.
- W3122037887 hasConcept C36289849 @default.
- W3122037887 hasConcept C39389867 @default.
- W3122037887 hasConcept C41008148 @default.
- W3122037887 hasConcept C48798503 @default.
- W3122037887 hasConcept C556758197 @default.
- W3122037887 hasConcept C78519656 @default.
- W3122037887 hasConcept C86803240 @default.
- W3122037887 hasConceptScore W3122037887C10138342 @default.
- W3122037887 hasConceptScore W3122037887C106159729 @default.
- W3122037887 hasConceptScore W3122037887C119857082 @default.
- W3122037887 hasConceptScore W3122037887C121955636 @default.
- W3122037887 hasConceptScore W3122037887C127413603 @default.
- W3122037887 hasConceptScore W3122037887C141261163 @default.
- W3122037887 hasConceptScore W3122037887C144024400 @default.
- W3122037887 hasConceptScore W3122037887C144133560 @default.
- W3122037887 hasConceptScore W3122037887C147598955 @default.
- W3122037887 hasConceptScore W3122037887C151730666 @default.
- W3122037887 hasConceptScore W3122037887C162324750 @default.
- W3122037887 hasConceptScore W3122037887C17744445 @default.
- W3122037887 hasConceptScore W3122037887C18903297 @default.
- W3122037887 hasConceptScore W3122037887C199539241 @default.
- W3122037887 hasConceptScore W3122037887C199728807 @default.
- W3122037887 hasConceptScore W3122037887C204036174 @default.
- W3122037887 hasConceptScore W3122037887C2776291640 @default.
- W3122037887 hasConceptScore W3122037887C2777303722 @default.
- W3122037887 hasConceptScore W3122037887C2780299701 @default.
- W3122037887 hasConceptScore W3122037887C2780762169 @default.
- W3122037887 hasConceptScore W3122037887C2780821815 @default.
- W3122037887 hasConceptScore W3122037887C2781426361 @default.
- W3122037887 hasConceptScore W3122037887C36289849 @default.
- W3122037887 hasConceptScore W3122037887C39389867 @default.
- W3122037887 hasConceptScore W3122037887C41008148 @default.
- W3122037887 hasConceptScore W3122037887C48798503 @default.
- W3122037887 hasConceptScore W3122037887C556758197 @default.
- W3122037887 hasConceptScore W3122037887C78519656 @default.
- W3122037887 hasConceptScore W3122037887C86803240 @default.
- W3122037887 hasLocation W31220378871 @default.
- W3122037887 hasOpenAccess W3122037887 @default.
- W3122037887 hasPrimaryLocation W31220378871 @default.
- W3122037887 hasRelatedWork W1852892816 @default.
- W3122037887 hasRelatedWork W2009178347 @default.
- W3122037887 hasRelatedWork W2014341357 @default.
- W3122037887 hasRelatedWork W2036111401 @default.
- W3122037887 hasRelatedWork W2116652331 @default.
- W3122037887 hasRelatedWork W2142521292 @default.
- W3122037887 hasRelatedWork W2148278939 @default.
- W3122037887 hasRelatedWork W2154118345 @default.
- W3122037887 hasRelatedWork W2285692798 @default.
- W3122037887 hasRelatedWork W2516856379 @default.
- W3122037887 hasRelatedWork W2613583280 @default.
- W3122037887 hasRelatedWork W2951543658 @default.
- W3122037887 hasRelatedWork W3121164403 @default.
- W3122037887 hasRelatedWork W3122053072 @default.
- W3122037887 hasRelatedWork W3122165825 @default.
- W3122037887 hasRelatedWork W3133394525 @default.
- W3122037887 hasRelatedWork W3134676078 @default.
- W3122037887 hasRelatedWork W3164657442 @default.
- W3122037887 hasRelatedWork W350166686 @default.
- W3122037887 hasRelatedWork W47145402 @default.
- W3122037887 isParatext "false" @default.