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A Review of Corporate Social Responsibility and Real Estate Investment Trust Studies: An Australian Perspective
Author(s) -
Westermann Steffen,
Niblock Scott J.,
Kortt Michael A.
Publication year - 2018
Publication title -
economic papers: a journal of applied economics and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.245
H-Index - 19
eISSN - 1759-3441
pISSN - 0812-0439
DOI - 10.1111/1759-3441.12201
Subject(s) - corporate social responsibility , real estate investment trust , empirical research , business , corporate governance , real estate , accounting , perspective (graphical) , investment (military) , corporate real estate , sustainability , finance , public relations , political science , ecology , philosophy , epistemology , artificial intelligence , politics , computer science , law , biology
The aim of this paper is to review empirical findings in the literature relating to corporate social responsibility ( CSR ) and real estate investment trust ( REIT ) performance. Specifically, we synthesise CSR ‐focused REIT performance studies in an attempt to establish empirical approaches utilised in the academic literature, present findings, identify relevant gaps and reveal themes for future research. The literature focusing on the CSR of REIT s to‐date has primarily focused on corporate governance, sustainability and performance, with the latter concentrating on firm‐level financial consequences rather than investment return performance. The review showed that there has been limited empirical research conducted on the relationship between CSR and risk‐adjusted returns of REIT s, particularly in Australia.