Graves and Waddock (2000)

Graves, Samuel B., and Sandra A. Waddock. "Beyond Built-to-Last... Stakeholder Relations in 'Built to Last' Companies." Business and Society Review, 2000.

Analyzes the social records of companies featured in the book Built to Last. Finds that the 'Built to Last' companies had significantly better (p<.0001) employee relations and diversity ratings than a group of comparable non-'Built to Last' firms. The 'Built to Last' firms also had significantly higher stock returns (p<.0001, Compustat data).

LK comment:  See Collins and Porras (2004)