Dravenstott and Chieffe (2011)

Dravenstott, John, and Natalie Chieffe.  “Corporate Social Responsibility:  Should I Invest for It or against It?”  Journal of Investing, Fall 2011.

From the authors' abstract:  "[We] compare the returns of a portfolio composed of socially responsible companies with those of a portfolio composed of companies without that distinction... socially responsible companies perform worse than “irresponsible” companies. The reason for this seems to depend on the individual socially responsible investment (SRI) screens. Some screens have a positive impact on returns, some have a negative impact."


Link:  http://joi.iijournals.com/content/20/3/108