Fund Performance and Social Responsibility: New Evidence using Social Active Share and Social Tracking Error

2019 ◽  
Author(s):  
Sadok El Ghoul ◽  
Aymen Karoui
Keyword(s):  
Social Responsibility ◽  
Tracking Error ◽  
Fund Performance ◽  
New Evidence

New Evidence on the Role of the Media in Corporate Social Responsibility

2016 ◽  
Vol 154 (4) ◽  
pp. 1051-1079 ◽  
Author(s):  
Sadok El Ghoul ◽  
Omrane Guedhami ◽  
Robert Nash ◽  
Ajay Patel
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
The Media ◽  
Corporate Social ◽  
New Evidence

Corporate Social Responsibility Exposure and Performance of Mutual Funds

2019 ◽  
Keyword(s):  
Corporate Social Responsibility ◽  
Financial Crisis ◽  
Social Responsibility ◽  
Mutual Funds ◽  
Stock Return ◽  
Fund Performance ◽  
A Value ◽  
Performance Patterns ◽  
And Performance ◽  
Corporate Social

The authors study the performance consequences of exposure to corporate social responsibility (CSR) through stock holdings for mutual funds. Using a large sample of US domestic mutual funds, they find that funds overweighting low-CSR stocks outperform funds underweighting them by 1.7% to 2.6% annually. This outperformance, however, reverses during the 2008-2009 financial crisis. They also find similar performance patterns among stocks. An equal-weighted high-minus-low CSR stock return spread can explain the CSR-based fund performance spread, whereas a value-weighted spread cannot. These results are consistent with the interpretation that low-CSR funds overweight low-CSR small-cap stocks that offer high returns to investors who are averse to low-CSR investments. Investors tend to avoid low-CSR stocks due to either social norms against these stocks or risk of underperformance of these investments when overall trust in corporations suffers a negative shock (such as during a financial crisis).

scholarly journals The Ethical Mutual Fund Performance Debate: New Evidence from Canada

2006 ◽  
Vol 70 (2) ◽  
pp. 111-124 ◽  
Author(s):  
Rob Bauer ◽  
Jeroen Derwall ◽  
Rogér Otten
Keyword(s):  
Mutual Fund ◽  
Fund Performance ◽  
Mutual Fund Performance ◽  
New Evidence

scholarly journals New Evidence on the Relationship Between Corporate Social Responsibility and the Use of Equity Capital

2021 ◽  
Vol 25 (2) ◽  
pp. 200
Author(s):  
Mohammed Benlemlih ◽  
Mohammad Bitar ◽  
Elias Erragragui ◽  
Jonathan Peillex
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Equity Capital ◽  
Corporate Social ◽  
New Evidence ◽  
The Relationship

scholarly journals Effects of Corporate Social Responsibility Disclosure on Brand Value: An analysis of Interbrand Companies

2021 ◽  
Vol 16 (6) ◽  
pp. 17
Author(s):  
Giovanni Zampone ◽  
Natalia Aversano ◽  
Giuseppe Sannino
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Brand Value ◽  
Environmental Disclosure ◽  
Corporate Social Responsibility Disclosure ◽  
Starting Point ◽  
Growing Body ◽  
Corporate Social ◽  
New Evidence ◽  
Governance Disclosure

The paper aims at investigating how CSR (Corporate Social Responsibility) and ESG (Environmental, Social and Governance) disclosure affect the brand value of a sample of Interbrand companies. Empirically results show that the brand value is positively related to the environmental disclosure, social disclosure, and ESG disclosure, whereas no significant correlation has been found for the governance disclosure. This study provides new evidence to the growing body of literature that identifies CSR as a means of improving the company’s brand value and can represent a starting point in the discussion on the reputational benefits of CSR practices.

scholarly journals The Impact of Corporate Social Responsibility on Regulatory Comment Letters: Evidence from Iran

2022 ◽  
Vol 25 (1) ◽  
pp. 58-75
Author(s):  
Reza Hesarzadeh
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Written Responses ◽  
Additional Information ◽  
Governance Quality ◽  
Corporate Governance Quality ◽  
Corporate Social ◽  
The Impact ◽  
New Evidence ◽  
To Receive

Securities commissions regularly review corporate reports, and if the review reveals a possible deficiency— such as a potential accounting error— or requires further clarifications, they send the company a comment letter (CL), including a request for providing written responses and relative additional information. Current study aims to examine whether and how corporate social responsibility (CSR) affects CLs. This empirical study is based on a sample of 437 Iranian firm year observations from 2011 to 2017. Results show that firms with more CSR are less likely to receive CL, that more CSR does not influence the association of managerial misbehavior and CLs, and that the negative association between CSR and CLs is stronger among firms facing higher environmental information asymmetry and firms having higher corporate governance quality. Collectively, this paper contributes to the literature by providing new evidence on the beneficial effect of CSR in the context of CLs. Las comisiones de valores revisan periódicamente los informes de las empresas, y si la revisión revela una posible deficiencia -como un posible error contable- o se requiere más aclaraciones, envían a la empresa una carta de comentarios (CL), que incluye una solicitud de respuesta por escrito y la relativa información adicional. El presente estudio pretende examinar si la Responsabilidad Social de las Empresas (RSE) afecta a las cartas de comentarios y cómo lo hace. Este estudio empírico se basa en una muestra de 437 observaciones anuales de empresas iraníes desde 2011 hasta 2017. Los resultados muestran que las empresas con más RSC tienen menos probabilidades de recibir CL y que más RSC no influye en la asociación entre mal comportamiento de los directivos y CL. También se pone de manifiesto que la asociación negativa entre RSC y CL es más fuerte entre las empresas que enfrentan una mayor asimetría de información ambiental y las empresas que tienen una mayor calidad de gobierno corporativo. En conjunto, este trabajo contribuye a la literatura aportando nuevas pruebas sobre el efecto beneficioso de la RSC en el contexto de las CL.

scholarly journals New Evidence On Hedge Fund Performance Measures

2011 ◽  
Vol 8 (11) ◽  
Author(s):  
Komlan Sedzro
Keyword(s):  
Data Envelopment Analysis ◽  
Performance Measures ◽  
Hedge Funds ◽  
Hedge Fund ◽  
Fund Performance ◽  
Sharpe Ratio ◽  
Data Envelopment ◽  
Sharpe Ratios ◽  
Hedge Fund Performance ◽  
New Evidence

Hedge funds are still relatively unfamiliar to most investors despite the intense popularity they have enjoyed in recent years. Measuring the performance of these financial instruments using traditional methods is, however, problematic, since their returns do not follow a normal distribution. In this study, we consider rankings obtained with the Stochastic Dominance (SD) method and compare them with ranks produced using Sharpe Ratios, Modified Sharpe Ratios, and Data Envelopment Analysis. We also explore the advantages highlighted by the literature of the Data Envelopment Analysis (DEA) method in relation to traditional measures like Sharpe ratio and Modified Sharpe ratio. Our results show that classic performance measures are better correlated with SD than DEA results.

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