The price of sin in the Pacific-Basin
Hong and Kacperczyk (2009) argue that social norms against sin stocks influence investor behavior and corporate financial policies. This paper examines “sin” stocks in seven Pacific-Basin markets that exhibit a variety of social norms: Australia, India, Japan, South Korea, Malaysia, New Zealand and...
| Main Authors: | , , |
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| Format: | Journal Article |
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Elsevier BV
2013
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| Online Access: | http://hdl.handle.net/20.500.11937/18949 |
| _version_ | 1848749894037143552 |
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| author | Durand, Robert B Koh, SzeKee Tan, Paul |
| author_facet | Durand, Robert B Koh, SzeKee Tan, Paul |
| author_sort | Durand, Robert B |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | Hong and Kacperczyk (2009) argue that social norms against sin stocks influence investor behavior and corporate financial policies. This paper examines “sin” stocks in seven Pacific-Basin markets that exhibit a variety of social norms: Australia, India, Japan, South Korea, Malaysia, New Zealand and Singapore. In doing so, we provide further evidence on the pricing of sin stocks. Consideration of measurable cultural differences between the markets suggests the price of sin is a manifestation of groupthink. |
| first_indexed | 2025-11-14T07:28:11Z |
| format | Journal Article |
| id | curtin-20.500.11937-18949 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T07:28:11Z |
| publishDate | 2013 |
| publisher | Elsevier BV |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-189492017-09-13T15:59:41Z The price of sin in the Pacific-Basin Durand, Robert B Koh, SzeKee Tan, Paul Socially responsible investment Groupthink Corporate financial policy Asset pricing Behavioral finance Social norms Hong and Kacperczyk (2009) argue that social norms against sin stocks influence investor behavior and corporate financial policies. This paper examines “sin” stocks in seven Pacific-Basin markets that exhibit a variety of social norms: Australia, India, Japan, South Korea, Malaysia, New Zealand and Singapore. In doing so, we provide further evidence on the pricing of sin stocks. Consideration of measurable cultural differences between the markets suggests the price of sin is a manifestation of groupthink. 2013 Journal Article http://hdl.handle.net/20.500.11937/18949 10.1016/j.pacfin.2012.06.005 Elsevier BV restricted |
| spellingShingle | Socially responsible investment Groupthink Corporate financial policy Asset pricing Behavioral finance Social norms Durand, Robert B Koh, SzeKee Tan, Paul The price of sin in the Pacific-Basin |
| title | The price of sin in the Pacific-Basin |
| title_full | The price of sin in the Pacific-Basin |
| title_fullStr | The price of sin in the Pacific-Basin |
| title_full_unstemmed | The price of sin in the Pacific-Basin |
| title_short | The price of sin in the Pacific-Basin |
| title_sort | price of sin in the pacific-basin |
| topic | Socially responsible investment Groupthink Corporate financial policy Asset pricing Behavioral finance Social norms |
| url | http://hdl.handle.net/20.500.11937/18949 |