Renneboog, Ter Horst and Zhang (2008) highlight that the question of whether or not corporate social responsibility (CSR) is priced remains an open one. In this paper, using a comprehensive set of KLD indicators in Ohlson-model framework with robust two-way cluster analysis of standard errors,...

In this paper, using corporate social responsibility (CSR) measures constructed from EIRIS data and mapped onto Environment, Employee and Community dimensions, as well as a Composite indicator, we show that all two out of the three dimensions of CSR, together with the Composite measure, are...