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Institutional Investors And Corporate Social Responsibility
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Book Synopsis Corporate Social Responsibility and the Institutional Investor by : Bevis Longstreth
Download or read book Corporate Social Responsibility and the Institutional Investor written by Bevis Longstreth and published by New York : Praeger. This book was released on 1973 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: "A report to the Ford Foundation."--T.p.
Book Synopsis Responsible Investment and the Claim of Corporate Change by : Elisa Minou Zarbafi
Download or read book Responsible Investment and the Claim of Corporate Change written by Elisa Minou Zarbafi and published by Springer Science & Business Media. This book was released on 2011-04-06 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: Elisa M. Zarbafi analyzes the role of financial stakeholders as a potential driver of Corporate Social Responsibility (CSR) and focuses her theoretical analysis on socio-psychological drivers to understand the complex nature of responsible investment.
Book Synopsis Institutional Investors and Corporate Social Responsibility by : John R. Nofsinger
Download or read book Institutional Investors and Corporate Social Responsibility written by John R. Nofsinger and published by . This book was released on 2019 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Institutional investors appear to have selective preferences regarding corporate social responsibility. They appear indifferent to the presence of positive environmental (E) and social (S) indicators, but underweight stocks with negative ES indicators. This asymmetric pattern is particularly strong for longer-horizon institutions. Our empirical analyses indicate that this pattern is likely driven by economic incentives as the presence of negative ES indicators reflect downside risks: higher stock return skewness and probability of eventual bankruptcy and/or delisting. Positive ES indicators seem irrelevant in this context. Time-varying economic incentives also drive the dynamic pattern of institutional ownership of stocks with static negative indicators due to their controversial products (e.g., tobacco and firearms).
Book Synopsis ESG and Responsible Institutional Investing Around the World: A Critical Review by : Pedro Matos
Download or read book ESG and Responsible Institutional Investing Around the World: A Critical Review written by Pedro Matos and published by CFA Institute Research Foundation. This book was released on 2020-05-29 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: This survey examines the vibrant academic literature on environmental, social, and governance (ESG) investing. While there is no consensus on the exact list of ESG issues, responsible investors increasingly assess stocks in their portfolios based on nonfinancial data on environmental impact (e.g., carbon emissions), social impact (e.g., employee satisfaction), and governance attributes (e.g., board structure). The objective is to reduce exposure to investments that pose greater ESG risks or to influence companies to become more sustainable. One active area of research at present involves assessing portfolio risk exposure to climate change. This literature review focuses on institutional investors, which have grown in importance such that they have now become the largest holders of shares in public companies globally. Historically, institutional investors tended to concentrate their ESG efforts mostly on corporate governance (the “G” in ESG). These efforts included seeking to eliminate provisions that restrict shareholder rights and enhance managerial power, such as staggered boards, supermajority rules, golden parachutes, and poison pills. Highlights from this section: · There is no consensus on the exact list of ESG issues and their materiality. · The ESG issue that gets the most attention from institutional investors is climate change, in particular their portfolio companies’ exposure to carbon risk and “stranded assets.” · Investors should be positioning themselves for increased regulation, with the regulatory agenda being more ambitious in the European Union than in the United States. Readers might come away from this survey skeptical about the potential for ESG investing to affect positive change. I prefer to characterize the current state of the literature as having a “healthy dose of skepticism,” with much more remaining to be explored. Here, I hope the reader comes away with a call to action. For the industry practitioner, I believe that the investment industry should strive to achieve positive societal goals. CFA Institute provides an exemplary case in its Future of Finance series (www.cfainstitute.org/research/future-finance). For the academic community, I suggest we ramp up research aimed at tackling some of the open questions around the pressing societal goals of ESG investing. I am optimistic that practitioners and academics will identify meaningful ways to better harness the power of global financial markets for addressing the pressing ESG issues facing our society.
Book Synopsis Socially Responsible Finance and Investing by : H. Kent Baker
Download or read book Socially Responsible Finance and Investing written by H. Kent Baker and published by John Wiley & Sons. This book was released on 2012-08-31 with total page 528 pages. Available in PDF, EPUB and Kindle. Book excerpt: A detailed look at the role of social responsibility in finance and investing The concept of socially responsible finance and investing continues to grow, especially in the wake of one of the most devastating financial crises in history. This includes responsibility from the corporate side (corporate social responsibility) as well as the investor side (socially responsible investing) of the capital markets. Filled with in-depth insights and practical advice, Socially Responsible Finance and Investing offers an important basis of knowledge regarding both the theory and practice of this ever-evolving area of finance. As part of the Robert W. Kolb Series in Finance, this book showcases contributed chapters from professionals and academics with extensive expertise on this particular subject. It provides a comprehensive view of socially responsible foundations and their applications to finance and investing as determined by the current state of research. Discusses many important issues associated with socially responsible finance and investing, like moral hazard and the concept of "too big to fail" Contains contributed chapters from numerous thought-leaders in the field of finance Presents comprehensive coverage starting with the basics and bringing you through to cutting-edge, current theory and practice Now more than ever, we need to be mindful of the social responsibilities of all investment practices. The recent financial crisis and recession has changed the financial landscape for years to come and Socially Responsible Finance and Investing is a timely guide to help us navigate this difficult terrain.
Book Synopsis Corporate Social Responsibility and Shareholder's Value by : Leonardo Becchetti
Download or read book Corporate Social Responsibility and Shareholder's Value written by Leonardo Becchetti and published by . This book was released on 2007-08 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate social respon. (CSR) is increasingly a core component of corp. strategy in the global economy. While corp. are busy adopting & enhancing CSR practices, there is no established empirical research on CSR¿s impact & relevance in the capital market. This paper investigates this issue by tracing the market reaction to corp. entry & exit from the Domini 400 Social Index, recognized as a CSR benchmark, between 1990 & 2004. There are 2 main findings: a significant upward trend in absolute value abnormal returns, irrespective of the type of event, & a significant negative effect on abnormal returns after exit announce. from the Domini index. The latter effect persists even after controlling for concurring financial distress shocks & stock market seasonality.
Book Synopsis Socially Responsible Investments by : Mario La Torre
Download or read book Socially Responsible Investments written by Mario La Torre and published by Springer. This book was released on 2018-12-27 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Palgrave Pivot aims to build a bridge between corporate social responsibility (CSR) and sustainable finance in financial markets. It investigates classic CSR topics in the light of a modern conception of sustainability. The first part emphasizes four relevant topics in the CSR panorama of financial institutions: banks remuneration practices; human capital disclosure; the impact of environmental performance on banks, and finally, the institutional investors’ attitude towards socially responsible investments (SRIs). The second part explores CSR practices within the financial markets and discusses risk-return profiles of SRI and non-SRI indexes in different time frames. It investigates whether thematic social responsible funds obtain different risk-return than traditional funds, and finally, assesses whether equity crowdfunding could foster social innovation. This book is aimed at scholars and students who are interested in social impact investing and practitioners involved in the social impact market.
Book Synopsis Institutional Investors' Power to Change Corporate Behavior by : Suzanne Young
Download or read book Institutional Investors' Power to Change Corporate Behavior written by Suzanne Young and published by Emerald Group Publishing. This book was released on 2013-10-24 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: Institutional Investors' Power to Change Corporate Behavior
Book Synopsis Institutional Ownership Horizon, Corporate Social Responsibility and Shareholder Value by : Otgontsetseg Erhemjamts
Download or read book Institutional Ownership Horizon, Corporate Social Responsibility and Shareholder Value written by Otgontsetseg Erhemjamts and published by . This book was released on 2019 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: A widely held view among policymakers, corporate executives and the media is that short-termism among institutional investors is increasingly prevalent. However, some institutional investors are increasingly vocal about taking a long-term approach, and these investors care about environmental, social and governance (ESG) issues. The reality is that investors are a diverse set of stakeholders with various objectives and time horizons. In the academic literature, empirical evidence on the relationship between institutional ownership horizon and corporate social responsibility (CSR) has been mixed. In this paper, we show that institutions with longer (shorter) investment horizons promote (discourage) CSR at the firm level. In addition, the higher the proportion of long-term (short-term) investors, the higher (lower) the effect of CSR on long-term (short-term) buy-and-hold returns. These findings are consistent with the view that short-termism on the part of institutional investors places short-term pressure on companies, and therefore discourages long-term investments that create value.
Book Synopsis Exit, Voice, and Loyalty by : Albert O. Hirschman
Download or read book Exit, Voice, and Loyalty written by Albert O. Hirschman and published by Harvard University Press. This book was released on 1970 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: An innovator in contemporary thought on economic and political development looks here at decline rather than growth. Albert O. Hirschman makes a basic distinction between alternative ways of reacting to deterioration in business firms and, in general, to dissatisfaction with organizations: one, “exit,” is for the member to quit the organization or for the customer to switch to the competing product, and the other, “voice,” is for members or customers to agitate and exert influence for change “from within.” The efficiency of the competitive mechanism, with its total reliance on exit, is questioned for certain important situations. As exit often undercuts voice while being unable to counteract decline, loyalty is seen in the function of retarding exit and of permitting voice to play its proper role. The interplay of the three concepts turns out to illuminate a wide range of economic, social, and political phenomena. As the author states in the preface, “having found my own unifying way of looking at issues as diverse as competition and the two-party system, divorce and the American character, black power and the failure of ‘unhappy’ top officials to resign over Vietnam, I decided to let myself go a little.”
Book Synopsis Is Institutional Ownership Related to Corporate Social Responsibility? The Non-Linear Relation and Its Implication for Stock Return Volatility by : Maretno A. Harjoto
Download or read book Is Institutional Ownership Related to Corporate Social Responsibility? The Non-Linear Relation and Its Implication for Stock Return Volatility written by Maretno A. Harjoto and published by . This book was released on 2015 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the relation between corporate social responsibility (CSR) and institutional investor ownership, and the impact of this relation on stock return volatility. We find that institutional ownership does not strictly increase or decrease in CSR; rather, institutional ownership is a concave function of CSR. This evidence suggests that institutional investors do not see CSR as strictly value enhancing activities. Institutional investors adjust their percentage of ownership when CSR activities go beyond the perceived optimal level. Employing the path analysis, we also examine the mediating effect of institutional ownership on the relation between CSR and stock return volatility. We find that CSR decreases stock return volatility at a decreasing rate through its effect on institutional ownership. Our results remain robust under several different CSR measures and estimation methods.
Book Synopsis Institutional Ownership and Corporate Social Responsibility by : Maretno A. Harjoto
Download or read book Institutional Ownership and Corporate Social Responsibility written by Maretno A. Harjoto and published by . This book was released on 2015 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the relation between corporate social responsibility (CSR) and institutional investor ownership, and the impact of this relation on stock return volatility. We find that institutional ownership does not strictly increase or decrease in CSR; rather, institutional ownership is a concave function of CSR. This evidence suggests that institutional investors do not see CSR as strictly value enhancing activities. Institutional investors adjust their percentage of ownership when CSR activities go beyond the perceived optimal level. Employing the path analysis, we also examine the mediating effect of institutional ownership on the relation between CSR and stock return volatility. We find that CSR decreases stock return volatility at a decreasing rate through its effect on institutional ownership. Our results remain robust under several different CSR measures and estimation methods.
Book Synopsis Sustainable Investing for Institutional Investors by : Mirjam Staub-Bisang
Download or read book Sustainable Investing for Institutional Investors written by Mirjam Staub-Bisang and published by John Wiley & Sons. This book was released on 2012-05-22 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive guide to socially responsible investing (SRI) With concerns about climate change increasing among investors, many are looking for opportunities that offer positive social as well as monetary returns. Sustainable Investing for Institutional Investors: Risk, Regulation and Strategies explores the key issues related to "Socially Responsible Investment" (SRI) for institutional investors and trustees, including investment strategies, risk and returns, market data, regulatory frameworks, and more. Looking at all investment classes, including bonds, equities, real estate, commodities, and many others, the book provides an in-depth view of SRI-relevant asset classes to help you decide which is best for you. To better contextualize SRI opportunities and challenges, the book presents 20 case studies involving institutional investors that are currently following a sustainable investment strategy and how they have approached SRI. For business leaders already familiar with or practicing corporate social responsibility and/or environmentally sustainable management, SRI is the next step to turning modern corporations into good citizens, and this book contains everything you need to get started. Provides a comprehensive overview on all aspects of sustainable investing relevant for institutional investors and trustees Explores sustainable investment strategies across all asset classes Includes 20 SRI case studies that show investors at work around the world Features a Foreword by Dr. Klaus Schwab, Executive Chairman of the World Economic Forum Featuring everything you need to understand and benefit from the opportunities presented by environmentally sustainable investing, Sustainable Investing for Institutional Investors is essential reading for individual investors, their advisors, and anyone interested in making profitable, socially conscious investment choices.
Book Synopsis Portfolio Preferences of Foreign Institutional Investors by : Reena Aggarwal
Download or read book Portfolio Preferences of Foreign Institutional Investors written by Reena Aggarwal and published by World Bank Publications. This book was released on 2003 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Oxford Handbook of Business and the Natural Environment by : Pratima Bansal
Download or read book The Oxford Handbook of Business and the Natural Environment written by Pratima Bansal and published by Oxford University Press. This book was released on 2012 with total page 717 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook discusses the main issues, research, and theory on business and the natural environment, and how they impact on different business functions and disciplines
Book Synopsis Responsible Investment and the Claim of Corporate Change by : Elisa Minou Zarbafi
Download or read book Responsible Investment and the Claim of Corporate Change written by Elisa Minou Zarbafi and published by Gabler Verlag. This book was released on 2011-02-10 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Elisa M. Zarbafi analyzes the role of financial stakeholders as a potential driver of Corporate Social Responsibility (CSR) and focuses her theoretical analysis on socio-psychological drivers to understand the complex nature of responsible investment.
Book Synopsis Do Institutional Investors Drive Corporate Social Responsibility? by : Alexander Dyck
Download or read book Do Institutional Investors Drive Corporate Social Responsibility? written by Alexander Dyck and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
