Santa Clara University

Leavey School of Business News Blog


Business Today

The following postings have been filtered by tag finance. clear filter
  •  Finance Professor Hoje Jo Named Moskowitz Prize Winner

    Tuesday, Nov. 24, 2009 12:00 PM

    Hoje Jo, associate professor of finance at Santa Clara University Leavey School of Business, has won the 2009 Moskowitz Prize from the Center for Responsible Business at UC Berkeley. The award honors Professor Jo’s paper, “The Economics and Politics of Corporate Social Performance,” (David P. Baron, Maretno A. Harjoto, co-authors), which found evidence that consumer companies benefit from socially responsible activities, while industrial companies do not.

    The award represents the second consecutive win for Santa Clara faculty. Meir Statman, the Glenn Klimek Professor of Finance, received the honor in 2008, and honorable mention in 2005.

    “We are delighted that Professor Jo has been recognized for his important research into corporate social performance,” said Drew Starbird, interim dean of the Leavey School of Business. “He carries on the Leavey School of Business tradition of excellent scholarship informed by values that build a just and sustainable world.”

    Professor Jo and his colleagues described three measurable markets in which firms operate: a product market, a capital market, and a market for social responsibility as urged by shareholders, government, NGOs, and social activists. They found that consumer industries evidenced a positive relationship between financial performance and social performance, while industrial firms had a negative relationship. That differed from overall corporations, which exhibited no strong empirical relationship between their social activities and their financial performance.

    “This paper shows that in the consumer sphere, at least, companies can get a financial edge by behaving socially responsibly,” said Jo.

    The Moskowitz Prize is the only global award recognizing outstanding quantitative research in the field of socially responsible investing (SRI). The prize was launched in 1996 by the Social Investment Forum, the national trade associate for the socially and environmentally responsible investing industry, to recognize the best quantitative SRI study. The prize is named for Milton Moskowitz, one of the first scholars to compare and publish financial performance of screened and unscreened portfolios.

    Media Contact:
    Deborah Lohse
    SCU Media Relations, Asst. Director
    (408) 554-5121

  •  Shefrin Selected Among Decade's Best Business Writers

    Monday, Jul. 20, 2009 4:18 PM

    Hersh Shefrin is one of the most influential business writers in the last decade, according to J.P. Morgan, which has included the Santa Clara University finance professor in its exclusive "Celebrating a Decade of the J.P. Summer Reading List."

    Since 2000, J.P. Morgan has assembled a summer reading list of 10 current business titles recommended for its clients and the general public. In 2003, Hersh Shefrin's book, Beyond Greed and Fear, was selected to be on that year's list.

    To commemorate the tenth anniversary of its list, J.P. Morgan selected 10 from the lists published over the past decade (representing about 5,500 entries overall). Those 10 authors were asked to write a brief essay on their respective book, and the essays were compiled into a commemorative publication distributed to J.P. Morgan's clients. Among the other writers selected were Tom Friedman, Malcolm Gladwell, and PIMCO CEO Mohammed El-Erian.

    In addition to Beyond Greed and Fear, Shefrin is the author of Behavioral Corporate Finance (2006), A Behavioral Approach to Asset Pricing (2nd edition, 2008), and Ending the Management Illusion: How to Drive Busienss Results Using the Principles of Behavioral Finance (2008).

Printer-friendly format