Socially responsible investment returns and news: Evidence from Asia

Meng Feng Yen; Yung Ming Shiu; Chi Feng Wang

doi:10.1002/csr.1833

Socially responsible investment returns and news: Evidence from Asia

Meng Feng Yen, Yung Ming Shiu, Chi Feng Wang

Research output: Contribution to journal › Article › peer-review

29 Citations (Scopus)

Abstract

We set out in this study to examine (a) whether “socially responsible investment” (SRI) portfolios can outperform less-SRI portfolios in the emerging Asian stock markets and (b) whether investors within these emerging markets achieve awareness of SRI through publicly available news. On the basis of 2009–2013 data, we find that SRI portfolios tend to perform better in Japan. However, firms in the emerging Asian markets do not earn rewards for superior corporate social responsibility (CSR) practices. We also find that investors in the emerging Asian markets are indeed aware of SRI through public CSR news releases; in particular, investors in these markets reward high environmental-, social-, and governance-rated firms for their good CSR practices advertised through such news releases, relative to those with no news releases.

Original language	English
Pages (from-to)	1565-1578
Number of pages	14
Journal	Corporate Social Responsibility and Environmental Management
Volume	26
Issue number	6
DOIs	https://doi.org/10.1002/csr.1833
Publication status	Published - 2019 Nov 1

All Science Journal Classification (ASJC) codes

Development
Strategy and Management
Management, Monitoring, Policy and Law

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10.1002/csr.1833

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title = "Socially responsible investment returns and news: Evidence from Asia",

abstract = "We set out in this study to examine (a) whether “socially responsible investment” (SRI) portfolios can outperform less-SRI portfolios in the emerging Asian stock markets and (b) whether investors within these emerging markets achieve awareness of SRI through publicly available news. On the basis of 2009–2013 data, we find that SRI portfolios tend to perform better in Japan. However, firms in the emerging Asian markets do not earn rewards for superior corporate social responsibility (CSR) practices. We also find that investors in the emerging Asian markets are indeed aware of SRI through public CSR news releases; in particular, investors in these markets reward high environmental-, social-, and governance-rated firms for their good CSR practices advertised through such news releases, relative to those with no news releases.",

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Socially responsible investment returns and news: Evidence from Asia

Abstract

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