The Effect of Socially Activist Investment Policies on the Financial Markets: Evidence from the South African Boycott
Open accessAbstract
Siew Hong Teoh, Ivo Welch, C. Paul Wazzan, The Effect of Socially Activist Investment Policies on the Financial Markets: Evidence from the South African Boycott, The Journal of Business, Vol. 72, No. 1 (January 1999), pp. 35-89
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Teoh, Welch, and Wazzan (1999) find little discernible effect on firm values from South African divestments.
“Moreover, Teoh, Welch, and Wazzan (1999) find little discernible effect on firm values from South African divestments.”
From Presidential Address: Sustainable Finance and ESG Issues— <i>Value</i> versus <i>Values</i> (2023) · cites this paper as Teoh, Welch, and Wazzan (1999)
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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
Zerbib, O. D. (2022) · Review of Finance · doi:10.1093/rof/rfac045 · Cited by 252 · see citing works
The unintended consequences of divestment
Davies, S. W., & Van Wesep, E. D. (2018) · Journal of Financial Economics · doi:10.1016/j.jfineco.2018.03.007 · Cited by 89 · see citing works
Lin, W. L., Lee, C., & Law, S. H. (2021) · Business Strategy and the Environment · doi:10.1002/bse.2662 · Cited by 30 · see citing works
- Authors
- Teoh, S. H., Welch, I., & Wazzan, C. P.
- Venue
- The Journal of Business
- Publisher
- University of Chicago Press
- Published
- 1999-01
- Volume
- 72
- Issue
- 1
- Pages
- 35-89
- ISSN
- 0021-9398 (ISSN-L)
- 1537-5374
- OpenAlex
- W3121160329
- Cited by
- 513
- References
- 0
- Citations by year
- 2026: 9 · 2025: 25 · 2024: 19 · 2023: 34 · 2022: 43 · 2021: 21 · 2020: 21 · 2019: 32 · 2018: 23 · 2017: 24 · 2016: 24 · 2015: 26 · 2014: 31 · 2013: 20 · 2012: 25
- FWCI
- 7.57
- Type
- journal article
- Language
- en
- Open access
- green
- escholarship.org
- Licence
- cc-by
- Locations
- The Journal of Business (publishedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- eScholarship (California Digital Library) (submittedVersion, cc-by)
- Topics
- Social Sciences › Economics, Econometrics and Finance › Finance › Financial Markets and Investment Strategies
- Social Sciences › Business, Management and Accounting › Strategy and Management › Corporate Social Responsibility Reporting
- Social Sciences › Economics, Econometrics and Finance › Finance › Sustainable Finance and Green Bonds
- Keywords
- socially responsible investment, financial markets, apartheid, shareholder activism, stock returns
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