Assessing the linkages between corporate social responsibility and A-Reit performance
Date
2011
Authors
Newell, G.
Peng, H.
Yam, L.H.
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Journal article
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Pacific Rim Property Research Journal, 2011; 17(3):370-387
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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.
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Copyright 2011 Pacific Rim Real Estate Society