An empirical examination of institutional investor preferences for corporate social performance

Journal of Business Ethics 52 (1):27-43 (2004)
Abstract
This study investigates the pattern of institutional shareholding in the U.K. and its relationship with socially responsible behavior by companies within a sample of over 500 UK companies. We estimate a set of ownership models that distinguish between long- and short-term investors and their largest components and which incorporate both aggregated and disaggregated measures of corporate social performance (CSP). The results suggest that long-term institutional investment is positively related to CSP providing further support for earlier studies by Johnson and Greening (1999, Academy of Management Journal 42, 564–576) and Graves and Waddock (1994, Academy of Management Journal 37, 1034–1046). Disaggregation of CSP into its constituent components suggests that the pattern of institutional investment is also related to the form which CSP takes. Investigation of the impact of investment screens on the selection of stocks suggests that long-term institutional investors select primarily through exclusion, rejecting those firms which have the worst CSP.
Keywords No keywords specified (fix it)
Categories (categorize this paper)
Options
 Save to my reading list
Follow the author(s)
My bibliography
Export citation
Find it on Scholar
Edit this record
Mark as duplicate
Revision history Request removal from index
 
Download options
PhilPapers Archive


Upload a copy of this paper     Check publisher's policy on self-archival     Papers currently archived: 9,357
External links
  •   Try with proxy.
  • Through your library Configure
    References found in this work BETA

    No references found.

    Citations of this work BETA

    View all 10 citations

    Similar books and articles
    Frank Jan de Graaf (2005). Corporate Social Performance and the Governance Structure. Proceedings of the International Association for Business and Society 16:225-229.
    Stephen Brammer, Stephen Pavelin & Lynda Porter (2005). Corporate Social Performance and Geographical Diversification. Proceedings of the International Association for Business and Society 16:81-86.
    Analytics

    Monthly downloads

    Added to index

    2009-01-28

    Total downloads

    11 ( #112,987 of 1,088,781 )

    Recent downloads (6 months)

    1 ( #69,666 of 1,088,781 )

    How can I increase my downloads?

    My notes
    Sign in to use this feature


    Discussion
    Start a new thread
    Order:
    There  are no threads in this forum
    Nothing in this forum yet.