Which criteria matter when impact investors screen social enterprises?

Which Factors Matter to Investors? Evidence from Mutual Fund Flows

When assessing a fund manager’s skill, sophisticated investors will consider all factors (priced and unpriced) that explain cross-sectional variation in fund performance. We investigate which factors investors attend to by analyzing mutual fund flows as a function of recent returns. Investors attend most to market risk (beta), but treat returns attributable to size, value, momentum, and industr...

What type of controlling investors impact on which elements of corporate social responsibility ?

Using a large sample of 3,541 companies drawn from 30 countries over the period 2002 to 2010 we analyse the impact of strategic shareholdings on different elements of corporate social responsibility (CSR). We find that total strategic or closely held equity holdings adversely affect the environmental, social and governance scores provided by ASSET4. However, this effect is largely driven by ent...

Which Ties Matter When? The Strategic Impact of Network Linkages on Foreign Subsidiary Survival

When Do Covariates Matter? And Which Ones, and How Much?

To be added. ∗I would like to thank David Card, Mark Duggan, Bill Evans, Judy Hellerstein, Ingmar Prucha, Jim Smith, Alex Whalley and seminar participants at Berkeley, the BLS, UC-Irvine, University of Maryland, and RAND for helpful comments and discussions.

When do Investors Exhibit Stronger Behavioral Biases?∗

This paper examines whether individual investors exhibit stronger behavioral biases when value ambiguity or information uncertainty is higher. Using a six year (1991 to 1996) panel of retail stock holdings and trades, I find that investors are more overconfident and exhibit stronger disposition effect when stocks are more difficult to value. Furthermore, using trading correlation as a proxy for...