Faculty Publications


“Doing well while doing good” revisited: A study of socially responsible firms’ short-term versus long-term performance.

SelectedWorks Author Profiles:

Todd M. Shank

Document Type


Publication Date


Date Issued

January 2005

Date Available

February 2012


This article reexamines the “doing well while doing good” debate within the financial management literature, using comparisons among socially responsible mutual funds (SRMF), the NYSE Composite Index, and a portfolio made up of firms most valued by SRMF managers (MostSRF). The performance of MostSRF did no better or no worse than the overall market or SRMF in three to five year comparisons. However, results from the ten-year performance comparison refute earlier studies and indicate that the market prices social responsibility character is tics in the long run. Given MostSRF out per formed the other two in dices in this time line, a new paradigm for understanding the impact of SRI is revealed.


Abstract only. At this time, full-text article is available only through licensed access provided by the publisher. Published in Managerial Finance, 31(8), 33-46. Members of the USF System may access the full-text of the article through the authenticated link provided.




MCB University Press

Creative Commons License

Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.