Research Notes. CORPORATE SOCIAL RESPONSIBILITY AND STOCK MARKET PERFORMANCE.
- 1 September 1978
- journal article
- Published by Academy of Management in The Academy of Management Journal
- Vol. 21 (3) , 479-486
- https://doi.org/10.2307/255728
Abstract
The article examines the relationship between social responsibility and stock market performance of corporations in the U.S. for the period 1970-1974. Risk measures and differential returns of the securities in the social responsibility surveys were calculated for the five-year sample period 1970-1974 and a three-year subperiod 1971-1973. The measures of differential return were ranked in descending order over the five and three-year periods. Rank order correlations were calculated between survey rank and differential return rank. These correlations indicate a low insignificant relationship between risk-adjusted performance and degree of social responsibility.This publication has 0 references indexed in Scilit: