Assessing the linkages between corporate social responsibility and a-reit performance

Graeme Newell, Hsu Wen Peng, Sharon Yam

    Research output: Contribution to journalArticlepeer-review

    12 Citations (Scopus)

    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 languageEnglish
    Pages (from-to)370-387
    Number of pages18
    JournalPacific Rim Property Research Journal
    Volume17
    Issue number3
    Publication statusPublished - 2011

    Keywords

    • benchmarking (management)
    • performance index
    • portfolio diversification
    • risk-adjusted returns
    • social responsibility of business

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