Wednesday, 21 March 2007

Research on shareholder engagement

Thanks to Oliver for sending me this great list of research papers on shareholder engagement. Lots of interesting stuff here, I'll try and put up some summaries if I get time.

* The Price of Sin: The Effects of Social Norms on Markets, by Harisson Hong and Marcin Kacperczyk (Princeton University Working Paper).

* Returns to Shareholder Activism Evidence from a Clinical Study of the Hermes U.K. Focus Fund, by Marco Becht, Julian Franks, Colin Mayer, and Stefano Rossi (ECGI Working Paper).

* The Cost of Virtue: Corporate Social Responsibility and the Cost of Debt Financing, by Allen Goss and Gordon S. Roberts (York University Working Paper).

* Monitoring the Monitor: Evaluating CalPERS' Activism , by Brad M. Barber (University of California at Davis Working Paper).

* Mutual Fund Attributes and Investor Behavior, by Nicolas P.B. Bollen (Vanderbilt University Working Paper).

* The Effect of Socially Responsible Investing on Financial Performance, by Alexander Kempf and Peer Osthoff (University of Cologne).

* Cleaning a Passive Index: How to Use Portfolio Optimization to Satisfy CSR Constraints, by M.A. Milevsky et al. (Journal of Portfolio Management 2006).

* The Effects of Corporate Governance on Firms' Credit Ratings, by H. Ashbuagh et al. (Journal of Accounting and Economics 2006).

* Socially Responsible Indexes, by Meir Statman (Journal of Portfolio Management 2006).

* Beyond Dichotomy: The Curvilinear Relationship between Social Responsibility and Financial Performance, by Michael Barnett and Robert Salomon (Strategic Management Journal, forthcoming).

No comments: