Saints versus sinners. Does morality matter?

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Saints versus sinners. Does morality matter?

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 (negativ...

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Bibliographic Details
Main Authors:	Durand, Robert B, Koh, Sze, Limkriangkrai, Manapon
Format:	Journal Article
Published:	Elsevier BV North-Holland 2013
Subjects:	Socially responsible investing MSCI KLD400 Social Index Asset pricing Portfolio choice
Online Access:	http://hdl.handle.net/20.500.11937/34073

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