Working Paper

18 July 2018

Do Investors Value Sustainability? A Natural Experiment Examining Ranking and Fund Flows

Examining a shock to the salience of the sustainability of the US mutual fund market, we present causal evidence that investors marketwide value sustainability. Being categorized as low sustainability resulted in net outflows of more...

Samuel M. Hartzmark | Abigail B. Sussman
10 December 2017

The relationship between public listing, context, multi-nationality and internal CSR

Are MNEs more socially responsible, and where is this more likely to occur? Are rms less responsible in emerging or transitional economies, and what impact does the dominant national corporate governance regime have? We explore the...

Chris Brewster | Salim Chahine | Marc Goergen | Geoffrey Wood
11 September 2017

Trust, Social Capital, and the Bond Market Benefits of ESG Performance

We investigate whether a firm’s social capital, and the trust that it engenders, are viewed favorably by bondholders. Using firms’ environmental and social (E&S) performance to proxy for social capital, we find no...Read more

Hami Amiraslani | Karl Lins | Henri Servaes | Ane Tamayo