Corporate social responsibility (CSR) is a multidimensional concept that involves several aspects, ranging from environment to social and governance. Companies aiming to comply with CSR standards have to face challenges that vary from one aspect to the other and from one industry to the other....

We analyse the performance of a large sample of Socially Responsible (SR) stocks relative to a Control Sample (CS) of equivalent size for 14 years. We find that individual SR stocks have on average significantly lower returns and unconditional variance than CS stocks when controlling for...

Firm-specific and aggregate shocks generate reassessment of investors and analysts expectations on earnings forecasts and on the fundamental value of equities. In this article, we evaluate the effects of this combined reaction on the implied equity risk premium extracted from a standard...