2013 Awards for Excellence

Citation

(2014), "2013 Awards for Excellence", International Journal of Accounting & Information Management, Vol. 22 No. 1. https://doi.org/10.1108/IJAIM-03-2014-002

2013 Awards for Excellence

Article Type: 2013 Awards for Excellence From: International Journal of Accounting and Information Management, Volume 22, Issue 1

The following article was selected for this year’s Outstanding Paper Award for International Journal of Accounting and Information Management

"Do high and low-ranked sustainability stocks perform differently?"

Darren D. Lee, Robert W. Faff and Saphira A.C. Rekker
UQ Business School, University of Queensland, Brisbane, Australia

Purpose – The purpose of this paper is to examine whether portfolios comprising high-ranked corporate social performance (CSP) firms out/underperform portfolios comprised of low-ranked CSP firms. The authors employed a US sample covering the period 1998-2007.
Design/methodology/approach – In the context of the Fama and French model augmented by momentum and industry factors, the authors test the significance of the alpha for a CSP difference portfolio, defined as high-ranked minus low-ranked CSP stocks.
Findings – The results are consistent with the “no-linkage” hypothesis, which argues that no significant difference in the risk-adjusted performance is expected between high- and low-ranked CSP-formed portfolios. Furthermore, little evidence was found that high- or low-ranked CSP-formed portfolios, irrespective of the portfolio formation type, systematically differ with regard to performance, size, book-to-market or momentum factors.
Originality/value – The authors employ sustainability CSP rankings that focus on environmental, social and governance (ESG) materiality factors, in contrast to many prior studies that solely use KLD ratings or just focus on a subarea of CSP. Moreover, the authors’ dataset considerably improves upon previous studies employing similar data in which individual company rankings are not available.

Keywords: Best of sector, Corporate finances, Corporate financial performance, Corporate investments, Corporate social performance, Finance, Social responsibility, Socially responsible investing, Sustainability, US evidence

http://www.emeraldinsight.com/10.1108/IJAIM-03-2014-002

This article originally appeared in Volume 21 Number 2, 2012, International Journal of Accounting and Information Management

The following articles were selected for this year’s Highly Commended Award

"The supplemental role of operating cash flows in explaining share returns: effect of various measures of earnings quality"

C.S. Agnes Cheng, Joseph Johnston and Cathy Zishang Liu

This article originally appeared in Volume 21 Number 1, 2012, International Journal of Accounting and Information Management

"Determinants and usefulness of analysts’ cash flow forecasts: evidence from Australia"

Kamran Ahmed and Muhammad Jahangir Ali

This article originally appeared in Volume 21 Number 1, 2012, International Journal of Accounting and Information Management

"How does environmental accounting information influence attention and investment?"

Hank C. Alewine and Dan N. Stone

This article originally appeared in Volume 21 Number 1, 2012, International Journal of Accounting and Information Management

Outstanding reviewers

Dr Yiuman Tse
Professor Gin Chong