Are Ethical Investments Good?
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 the...
| Main Authors: | , , |
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| Format: | Journal Article |
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Sage Publications
2014
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| Online Access: | http://hdl.handle.net/20.500.11937/4286 |
| _version_ | 1848744472878252032 |
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| author | Chow, G. Durand, Robert Koh, S. |
| author_facet | Chow, G. Durand, Robert Koh, S. |
| author_sort | Chow, G. |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | 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. |
| first_indexed | 2025-11-14T06:02:01Z |
| format | Journal Article |
| id | curtin-20.500.11937-4286 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T06:02:01Z |
| publishDate | 2014 |
| publisher | Sage Publications |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-42862017-09-13T14:47:34Z Are Ethical Investments Good? Chow, G. Durand, Robert Koh, S. socially responsible investing MSCI KLD400 Social Index portfolio choice 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. 2014 Journal Article http://hdl.handle.net/20.500.11937/4286 10.1177/0312896213516327 Sage Publications restricted |
| spellingShingle | socially responsible investing MSCI KLD400 Social Index portfolio choice Chow, G. Durand, Robert Koh, S. Are Ethical Investments Good? |
| title | Are Ethical Investments Good? |
| title_full | Are Ethical Investments Good? |
| title_fullStr | Are Ethical Investments Good? |
| title_full_unstemmed | Are Ethical Investments Good? |
| title_short | Are Ethical Investments Good? |
| title_sort | are ethical investments good? |
| topic | socially responsible investing MSCI KLD400 Social Index portfolio choice |
| url | http://hdl.handle.net/20.500.11937/4286 |