Stock Returns in Relation to Environmental, Social and Governance Performance: Mispricing or Compensation for Risk?

By C. Manescu. 2011

202 citations recorded by the source corpus.

Subfields: Accounting, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/3ddf2288a718a6d91f1025a61ae21babaedb652e

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Citations in the corpus

Peer Effects of Corporate Social Responsibility (2019, unknown): “However, as pointed out by Manescu (2011), the raw CSR score may be problematic for evaluating a firm’s actual CSR activities over years as the number of Strengths and Concerns within each category can differ.”
Corporate social responsibility and corporate cash holdings (2016, background): “However, Manescu (2011) points out some potential limitations of these aggregation methods, including the lack of comparability across years and dimensions, due to the varying number of indicators over time, and the inflated KLD scores for industries that are not sensitive to certain ESG dimensions…”
Doing Well by Doing Good: A Systematic Review and Research Agenda for Sustainable Investment (2019, unknown): “Lee, Humphrey, Benson, & Ahn [105]; Mǎnescu [106]; Mitsuyama & Shimizutani [107]; Siew [108]; Ortas, Alvarez, & Garayar [109] Soler-Domínguez & Matallín-Sáez [110]; Ur Rehman, Zhang, Uppal, Cullinan, & Akram Naseem [111]”
Impact of Sustainability Performance of Company on its Financial Performance: A Study of Listed Indian Companies (2013, background): “…& Niskala, 2010) to negative (Lopez et al., 2007; Detre & Gunderson, 2011) to mixed (Jones, 2005; Brammer et al., 2006; Mohd Taib & Ameer, 2012; Manescu, 2011; Semenova et al., 2009) and even to insignificant relationship (Van de Velde et al., 2005; Buys et al., 2011; Adams et al., 2012;…”
Valuation effects of corporate social responsibility (2015, methodology): “Mǎnescu (2011) uses detailed data on ESG attributes of a panel of large, publicly-traded U.S. firms between July 1992 and June 2008 and finds that only one of these, i.e., community relations, has a positive effect on risk-adjusted stock returns.”
Corporate social responsibility and dividend policy (2018, unknown): “ However, Manescu (2011) points out some potential limitations of these aggregation methods, including the lack of comparability across years and across dimensions due to the varying number of indicators over time and inflated KLD scores for industries that are not sensitive …”
Measuring the level and risk of corporate responsibility – An empirical comparison of different ESG rating approaches (2015, background): “Osthoff (2007) and Statman and Glushkov (2009) provide evidence of the fact that stocks with high ESG scores achieve excess returns, Galema et al (2008) and Mănescu (2011) do not suggest a statistically significant difference in risk-adjusted returns between screened and conventional portfolios.”