The Wages of Social Responsibility

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The Sustainability Footprint of Institutional Investors (2018, unknown): “For instance, Statman and Glushkov (2009) show that portfolios based on sustainability signals can outperform on a risk-adjusted basis.”
Outside Directors, Corporate Social Responsibility Performance, and Corporate Tax Aggressiveness: An Empirical Analysis (2016, methodology): “For instance, Watson (2011), using the Kinder, Lydenberg, and Domini (KLD) index as a measure of CSR performance and unrecognized tax benefits as a proxy for tax aggressiveness, concludes that socially responsible firms are less tax aggressive.”
Sin Stocks Revisited: Resolving the Sin Stock Anomaly (2017, result): “Consistent with these two studies, Statman and Glushkov [2009] analyze sin stocks in the United States over the 1992–2007 period and find one-, three-, and four-factor alphas of 2%–3% per annum. Salaber [2007] looks at the returns of sin stocks from the tobacco, alcohol, and gaming sectors for 18 Eu”