Table 1 Summary statistics of SRI investment and cost of equity capital
SRI Investment (%) | Risk Premium (%) | ||||||
|---|---|---|---|---|---|---|---|
Group | Num. Firms | Mean | Std.Dev. | Median | Mean | Std.Dev. | Median |
nonSRI | 224 | 0.000 | 0.000 | 0.000 | 5.548 | 5.321 | 4.564 |
Other | 340 | 0.102 | 0.508 | 0.003 | 4.953 | 4.023 | 4.476 |
\(\Delta\)SRI | 982 | 0.052 | 0.215 | 0.004 | 4.695 | 3.399 | 4.403 |
SRI | 1,434 | 0.234 | 0.943 | 0.045 | 4.397 | 3.255 | 4.159 |