Market Reaction to Corporate Social Performance

This dissertation investigated the general issue of investors' use of data on corporate social performance. The problem addressed was, do investors, in their role in forming security prices, use data on social performance in their investment decisions? To address this question, two basic approaches were explored. First, an analytical framework was developed to analyze the role of social performance data in various models of investor behavior, with special emphasis on the Capital Asset Pricing Model. The second approach to the research problem consisted of measuring and testing the information content of disclosure of a specific subset of social performance. This subset was environmental performance, as represented by estimated future pollution control expenditures.

Name thesis:degree_name

Ph.D.

Level thesis:degree_level

Dissertation

Discipline thesis:degree_discipline

Accountancy

Grantor

University of Illinois at Urbana-Champaign

Year dc:date

2014

Author dc:creator

• Stevens, William Patrick

• Business Administration, Accounting

Language dc:language

eng

Identifier

(UMI)AAI8017993

OAI identifier oai:identifier

oai:www.ideals.illinois.edu:2142/68271