Anderson and Myers (2017)
Anderson, Anne, and David Myers. “Sustainability: Discounting the Future, Social Distance, and Efficiency Effects.” Working paper (Lehigh University), 2017.
From the authors' abstract: "[W]e posit that beyond the traditional wealth-maximizing motivations of the socially responsible investors, there are two new dimensions from which social decisions for SRI and CSR are made: social distance and efficiency. SRI decisions that parallel altruistic philanthropy and ethical obligations in CSR are made with a strong orientation towards social distance. SRI decisions that parallel the economic dimensions in CSR (i.e. SRI investment for value-enhancing) are made with a strong orientation towards efficiency... [A]long these two dimensions we place a spectrum of ethical and socially responsible investment decisions from philanthropy to microfinance to socially responsible investments and corporate social responsibility."