Red and blue investing: Values and finance
Integrity signals
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Hong and Kostovetsky (2012) show that political preferences of investment managers predict their investments in socially responsible stocks.
“Hong and Kostovetsky (2012), for instance, show that political preferences of investment managers predict their investments in socially responsible stocks.”
From The Importance of Climate Risks for Institutional Investors (2020) · cites this paper as Hong and Kostovetsky (2012)
An increasing number of investors appears to make investment decisions not only based on expected future returns, but also considers non-monetary aspects and social norms.
“An increasing number of investors appears to make investment decisions not only based on expected future returns, but also considers non-monetary aspects and social norms (e.g., Hong and Kostovetsky 2012).”
From Mandatory CSR and sustainability reporting: economic analysis and literature review (2021) · cites this paper as Hong and Kostovetsky 2012
Cites
On Persistence in Mutual Fund Performance
Carhart, M. M. (1997) · The Journal of Finance · doi:10.1111/j.1540-6261.1997.tb03808.x · Cited by 17,283 · see citing works
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LINS, K. V., SERVAES, H., & TAMAYO, A. (2017) · The Journal of Finance · doi:10.1111/jofi.12505 · Cited by 3,794 · see citing works
The Importance of Climate Risks for Institutional Investors
Krueger, P., Sautner, Z., & Starks, L. T. (2020) · The Review of Financial Studies · doi:10.1093/rfs/hhz137 · Cited by 3,034 · see citing works
Sustainable investing in equilibrium
Pástor, Ľ., Stambaugh, R. F., & Taylor, L. A. (2021) · Journal of Financial Economics · doi:10.1016/j.jfineco.2020.12.011 · Cited by 2,226 · see citing works
Mandatory CSR and sustainability reporting: economic analysis and literature review
Christensen, H. B., Hail, L., & Leuz, C. (2021) · Review of Accounting Studies · doi:10.1007/s11142-021-09609-5 · Cited by 1,923 · see citing works
Engle, R. F., Giglio, S., Kelly, B., Lee, H., & Stroebel, J. (2020) · The Review of Financial Studies · doi:10.1093/rfs/hhz072 · Cited by 1,489 · see citing works
Why Do Investors Hold Socially Responsible Mutual Funds?
RIEDL, A., & SMEETS, P. (2017) · The Journal of Finance · doi:10.1111/jofi.12547 · Cited by 1,378 · see citing works
Christensen, H. B., Floyd, E., Liu, L. Y., & Maffett, M. (2017) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2017.08.001 · Cited by 547 · see citing works
Get Real! Individuals Prefer More Sustainable Investments
Bauer, R., Ruof, T., & Smeets, P. (2021) · The Review of Financial Studies · doi:10.1093/rfs/hhab037 · Cited by 552 · see citing works
Presidential Address: Sustainable Finance and ESG Issues— <i>Value</i> versus <i>Values</i>
STARKS, L. T. (2023) · The Journal of Finance · doi:10.1111/jofi.13255 · Cited by 474 · see citing works
Commitment to social good and insider trading
Gao, F., Lisic, L. L., & Zhang, I. X. (2014) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2014.03.001 · Cited by 375 · see citing works
Discretionary Information in ESG Investing: A Text Analysis of Mutual Fund Prospectuses
Andrikogiannopoulou, A., Krueger, P., Mitali, S. F., & Papakonstantinou, F. (2022) · SSRN Electronic Journal · doi:10.2139/ssrn.4082263 · Cited by 18 · see citing works
Unlocking ESG Premium from Options
Cao, J., Goyal, A., Zhan, X., & Zhang, W. E. (2023) · doi:10.2139/ssrn.3878123 · Cited by 16 · see citing works
- Authors
- Hong, H., & Kostovetsky, L.
- Affiliations
- Princeton University (US)
- University of Rochester (US)
- Corresponding author
- Kostovetsky, Leonard
- Venue
- Journal of Financial Economics
- Publisher
- Elsevier BV
- Published
- 2012-01
- Volume
- 103
- Issue
- 1
- Pages
- 1-19
- ISSN
- 0304-405X (ISSN-L)
- OpenAlex
- W3124024717
- Cited by
- 749
- References
- 1
- Citations by year
- 2026: 55 · 2025: 87 · 2024: 90 · 2023: 90 · 2022: 65 · 2021: 80 · 2020: 43 · 2019: 43 · 2018: 39 · 2017: 32 · 2016: 33 · 2015: 24 · 2014: 18 · 2013: 25 · 2012: 12
- FWCI
- 70.78
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- Journal of Financial Economics (publishedVersion)
- Topics
- Social Sciences › Business, Management and Accounting › Strategy and Management › Corporate Social Responsibility Reporting
- Social Sciences › Economics, Econometrics and Finance › Finance › Financial Markets and Investment Strategies
- Social Sciences › Economics, Econometrics and Finance › Finance › Sustainable Finance and Green Bonds
- Keywords
- socially responsible investment, mutual fund managers, campaign contributions, fund managers, tobacco industry, firearms industry, defense industry, employee relations, diversity, political ideology
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Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
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