Margolis, Joshua D., Hillary Anger Elfenbein, and James P. Walsh. "Do Well by Doing Good? Don't Count on It." Social Responsibility. HBS Centennial Issue. Harvard Business Review 86, no. 1 (January 2008): 19.

Brief summary from Harvard Business Review website:

Research over 35 years shows only a weak link between socially responsible corporate behavior and good financial performance. However, there's no evidence of risk in doing good, only in being exposed for misdeeds.

Available at http://harvardbusinessonline.hbsp.harvard.edu/b01/en/common/item_detail.jhtml?id=F0801D&referral=2340

This citation taken from ECCE's 2007-2008 Top Studies on ESG