Stocks, like houses, cars, watches and most other products exude affect, good or bad, beautiful or ugly, admired or despised. Affect plays a role in pricing models of houses, cars and watches but, according to standard financial theory, affect plays no role in pricing of financial assets. We...

Socially responsible investors are similar to conventional investors in some ways but different in others. Like conventional investors, socially responsible investors want high returns and low risk, but socially responsible investors also want their portfolios to conform to their values, whether...

What do we know about socially responsible investments? What distinguishes socially responsible companies from conventional companies? Should investors expect socially responsible investments to yield higher or lower returns than conventional investments? What has been the performance of...

Do stocks of admired companies yield admirable returns? We study Fortune magazine's annual list of quot;America's Most Admired Companiesquot; and find that stocks of admired companies had lower returns, on average, than stocks of despised companies during the 23 years from April 1983 through...

Assets are economically liquid when they can be sold quickly with no loss relative to their fair market value. Assets are quot;mentally liquidquot; when they offer investors options to obscure losses relative to reference prices and options to avoid their realization. Purchase prices are common...

One purpose of this study is to explore the characteristics that define socially responsible companies by comparing the content of the Samp;P 500 Index of conventional companies to the contents of four indexes of socially responsible companies, the Domini 400 Social Index (DS 400 Index), the...

Stocks, like houses, cars, watches, and other products, exude affect - that is, they are considered good or bad, beautiful or ugly; they are admired or disliked. Affect plays an overt role in the pricing of houses, cars, and watches, but according to standard financial theory, it plays no role...

What do we know about SRI? What distinguishes socially responsible companies from conventional companies? Should investors expect socially responsible investments to yield higher or lower returns than conventional investments? What has been the performance of socially responsible portfolios...

Typical socially responsible investors tilt their portfolios toward stocks of companies with high scores on social responsibility characteristics such as community, employee relations and the environment. We analyze returns during 1992-2007 of stocks rated on social responsibility by KLD and...