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  1. Environmental and Economic Dimensions of Sustainability and Price Effects on Consumer Responses.Sungchul Choi & Alex Ng - 2011 - Journal of Business Ethics 104 (2):269-282.
    The lack of attention to sustainability, as a concept with multiple dimensions, has presented a developmental gap in green marketing literature, sustainability, and marketing literature for decades. Based on the established premise of customer–corporate (C–C) identification, in which consumers respond favorably to companies with corporate social responsibility initiatives that they identify with, we propose that consumers would respond similarly to companies with sustainability initiatives. We postulate that consumers care about protecting and preserving favorable economic environments (an economic dimension of sustainability) (...)
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  • Does Religion Matter to Equity Pricing?Sadok El Ghoul, Omrane Guedhami, Yang Ni, Jeffrey Pittman & Samir Saadi - 2012 - Journal of Business Ethics 111 (4):491-518.
    For a sample comprising 36,105 U.S. firm-year observations from 1985 to 2008, we find that firms located in more religious counties enjoy cheaper equity financing costs. This result is robust to a battery of sensitivity tests, including alternative assumptions and model specifications, additional controls for noise in analyst forecasts, and various approaches to addressing endogeneity. In another set of tests, we find that the equity pricing role that religion plays comes predominantly from Mainline Protestants. We also document that the effect (...)
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  • Beyond “Does it Pay to be Green?” A Meta-Analysis of Moderators of the CEP–CFP Relationship.Heather R. Dixon-Fowler, Daniel J. Slater, Jonathan L. Johnson, Alan E. Ellstrand & Andrea M. Romi - 2013 - Journal of Business Ethics 112 (2):353-366.
    Review of extant research on the corporate environmental performance (CEP) and corporate financial performance (CFP) link generally demonstrates a positive relationship. However, some arguments and empirical results have demonstrated otherwise. As a result, researchers have called for a contingency approach to this research stream, which moves beyond the basic question “does it pay to be green?” and instead asks “when does it pay to be green?” In answering this call, we provide a meta-analytic review of CEP–CFP literature in which we (...)
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  • Green and Good? The Investment Performance of US Environmental Mutual Funds.Francisco Climent & Pilar Soriano - 2011 - Journal of Business Ethics 103 (2):275-287.
    Increased concern for the environment has increased the number of investment opportunities in mutual funds specialized in promoting responsible environmental attitudes. This article examines the performance and risk sensitivities of US green mutual funds vis-à-vis their conventional peers. We also analyze and compare this performance relative to other socially responsible investing (SRI) mutual funds. In order to implement this analysis, we apply a CAPM-based methodology and find that in the 1987–2009 period, environ- mental funds had lower performance than conventional funds (...)
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  • Drivers of Environmental Disclosure and Stakeholder Expectation: Evidence from Taiwan. [REVIEW]Cheng-Li Huang & Fan-Hua Kung - 2010 - Journal of Business Ethics 96 (3):435 - 451.
    This article investigates stakeholder expectations associated with corporate environmental disclosure. Several articles have studied the effect that stakeholder pressure has on environmental disclosing strategies. In this article, we extend previous research to an examination of the influence of external, internal, and intermediary stakeholder groups or constituencies in turn to clarify the demands of multiple stakeholders as to firms' disclosure of sufficient and adequate environmental information. The sample comprised Taiwanese firms listed on the Taiwan Stock Exchange. Our results show that the (...)
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  • Does Social Performance Really Lead to Financial Performance? Accounting for Endogeneity.Roberto Garcia-Castro, Miguel A. Ariño & Miguel A. Canela - 2010 - Journal of Business Ethics 92 (1):107-126.
    The empirical relationship between a firm’s social performance and its financial performance is still not well established in the literature. Despite more than 30 years of research and more than 100 empirical studies on the issue, the results are still mixed. We argue that the heterogeneous results found in previous studies are not due exclusively to problems related with the measurement instruments or the samples used. Instead, we posit that a more fundamental problem related with the endogeneity of social strategic (...)
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  • Doing Well While Doing Bad? CSR in Controversial Industry Sectors.Ye Cai, Hoje Jo & Carrie Pan - 2012 - Journal of Business Ethics 108 (4):467 - 480.
    In this article, we examine the empirical association between firm value and CSR engagement for firms in sinful industries, such as tobacco, gambling, and alcohol, as well as industries involved with emerging environmental, social, or ethical issues, i.e., weapon, oil, cement, and biotech. We develop and test three hypotheses, the window-dressing hypothesis, the value-enhancement hypothesis, and the value-irrelevance hypothesis. Using an extesive US sample from 1995 to 2009, we find that CSR engagement of firms in controversial industries positively affects firm (...)
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  • Reviewing the Business Case for Corporate Social Responsibility: New Evidence and Analysis. [REVIEW]Philipp Schreck - 2011 - Journal of Business Ethics 103 (2):167-188.
    This study complements previous empirical research on the business case for corporate social responsibility (CSR) by employing hitherto unused data on corporate social performance (CSP) and proposing statistical analyses to account for bi-directional causality between social and financial performance. By allowing for differences in the importance of single components of CSP between industries, the data in this study overcome certain limitations of the databases used in earlier studies. The econometrics employed offer a rigorous way of addressing the problem of endogeneity (...)
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  • Environmental marketing: A source of reputational, competitive, and financial advantage. [REVIEW]Morgan P. Miles & Jeffrey G. Covin - 2000 - Journal of Business Ethics 23 (3):299 - 311.
    Corporate reputation is an intangible asset that is related to marketing and financial performance. The social, economic, and global environment of the 1990'shas resulted in environmental performance becoming an increasingly important component of a company'sreputation. This paper explores the relationship between reputation, environmental performance, and financial performance, and looks at the contingencies that impact environmental policy making.
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