Abstract
Corporate social responsibility (CSR) has taken on increased significance in the property sector in recent years. This paper assesses the level of CSR practices by A-REITs across the environmental, social and governance dimensions of CSR and compares this to other ASX sectors. A number of unique CSR A-REIT performance indices are developed for A-REIT investors committed to the principles of CSR, and their added-value assessed via risk-adjusted performance analysis and their portfolio diversification benefits. Importantly, these CSR A-REIT indices do not significantly under-perform the conventional A-REIT indices, as well as providing portfolio diversification benefits. The CSR A-REIT investment implications are also highlighted.
Original language | English |
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Pages (from-to) | 370-387 |
Number of pages | 18 |
Journal | Pacific Rim Property Research Journal |
Volume | 17 |
Issue number | 3 |
Publication status | Published - 2011 |
Keywords
- benchmarking (management)
- performance index
- portfolio diversification
- risk-adjusted returns
- social responsibility of business