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Primary Article

Is it Better to be Naughty or Nice?

Todd M. Shank, Daryl K. Manullang and Ronald Paul Hill
The Journal of Investing Fall 2005, 14 (3) 82-88; DOI: https://doi.org/10.3905/joi.2005.580553
Todd M. Shank
An associate professor of finance at the College of Business Administration of the University of South Florida in St. Petersburg, FL.
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  • For correspondence: tshank@stpt.usf.edu
Daryl K. Manullang
A visiting instructor of finance at the College of Business Administration of the University of South Florida.
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  • For correspondence: daryl@stpt.usf.edu
Ronald Paul Hill
The Bank of America professor of corporate social responsibility at the College of Business Administration of the University of South Florida.
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  • For correspondence: rphill@stpt.usf.edu
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Abstract

Investment analysts are trained that the primary responsibility of managers in public companies is to maximize shareholder wealth by raising the value of their stock holdings without regard for any greater societal good. Only recently have analysts begun to recognize the influence of various external stakeholders on the financial viability of corporations that violate ethical norms. The result is an increasing interest in socially responsible investing, defined as the process of integrating personal values and societal concerns into investment decision making. This orientation to the issue considers both academic research and popular press treatments. Careful selection of socially responsible investments over broader market investments may actually represent a value-maximizing strategy. Financial analysts will need to move beyond a laundry list of mutual funds in their dealings with investors.

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Is it Better to be Naughty or Nice?
Todd M. Shank, Daryl K. Manullang, Ronald Paul Hill
The Journal of Investing Aug 2005, 14 (3) 82-88; DOI: 10.3905/joi.2005.580553

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Is it Better to be Naughty or Nice?
Todd M. Shank, Daryl K. Manullang, Ronald Paul Hill
The Journal of Investing Aug 2005, 14 (3) 82-88; DOI: 10.3905/joi.2005.580553
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