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https://doi.org/10.1111/j.1467-8608.2011.01617.x

has been cited by the following article:

• TITLE: A Multi-Dimensional Analysis of Corporate Social Responsibility: The Liquidity Risk Factor

  AUTHORS: Homayoon Shalchian, Bouchra M’Zali, Hager Tebini

  KEYWORDS: Corporate Social Responsibility, Liquidity Risk Factor, Financial Performance

  JOURNAL NAME: Journal of Financial Risk Management, Vol.7 No.3, September 21, 2018

  ABSTRACT: This study is an extension to Shalchian et al. (2015) and investigates the effect of the “liquidity” risk factor on the performance of socially responsible investments in different industries and based on different dimensions of corporate social responsibility. Using Pastor and Stambault’s liquidity risk factor, we find that in the mining industry and based on the dimensions of “environment”, “employees’ relations” and “community involvement”, socially responsible investments are relatively less exposed to the liquidity risk factor. Our results also suggest that compared to conventional investments in the manufacturing and service industries, socially responsible investment’s performance is more sensitive to the liquidity risk factor.