Industry/dimension

Single-dimension

Multi-dimension

Single-industry

Cohen et al. (1997) : Environment from TRI (0)⁷

Shalchian et al. (2012) : KLD social ratings. (+)

Multi-industry

Derwall et al. (2005) : Environmental ratings from Innovest (+)⁸

Yamashita et al. (1999) : Environmental ratings from CEP (+)⁹

Aslaksen and Synnestvedt (2003) : (0)

Kempf and Osthoff (2007) : KLD social ratings (+)

Diltz (1995) : (+): CEP

Shalchian et al. (2012) : KLD social ratings. (+)