Corporate social investments: Do they pay?
The stock market reaction to two very different corporate social investments (the 1977 Sullivan Principles adoption announcement and the 1990 McDonald's Corporation environmental statement) is explored. A market model event study methodology is employed using daily stock returns. The results ar...
| Main Author: | |
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| Format: | Electronic Article |
| Language: | English |
| Check availability: | HBZ Gateway |
| Journals Online & Print: | Drawer...
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| Fernleihe: | Fernleihe für die Fachinformationsdienste |
| Published: |
Springer Science + Business Media B. V
1996
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| In: |
Journal of business ethics
Year: 1996, Volume: 15, Issue: 3, Pages: 309-314 |
| Further subjects: | B
Event Study
B Stock Market B Stock Return B Economic Growth B Market Model |
| Online Access: |
Volltext (JSTOR) Volltext (lizenzpflichtig) |
| Summary: | The stock market reaction to two very different corporate social investments (the 1977 Sullivan Principles adoption announcement and the 1990 McDonald's Corporation environmental statement) is explored. A market model event study methodology is employed using daily stock returns. The results are that the stock market appears to have ignored the 1977 announcement, but rewarded the 1990 event. Future research and possible managerial implications are discussed. |
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| ISSN: | 1573-0697 |
| Contains: | Enthalten in: Journal of business ethics
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| Persistent identifiers: | DOI: 10.1007/BF00382956 |