Pension funds and corporate social performance an empirical analysis

Paul Cox*, Stephen Brammer, Andrew Millington

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

19 Citations (Scopus)


This study examines the relationship between pension fund ownership of companies and corporate social performance using a unique database of more than 500 publicly listed U.K. companies. The empirical analysis emphasizes the heterogeneous character of pension fund holdings and the multidimensional nature of corporate social performance. The results highlight that the characteristics of pension fund management are significant drivers of preferences for social performance and that employee-related aspects of social performance are preferred by pension funds.

Original languageEnglish
Pages (from-to)213-241
Number of pages29
JournalBusiness and Society
Issue number2
Early online date18 Sept 2007
Publication statusPublished - 1 Jun 2008
Externally publishedYes


  • pension plans
  • investment institutions
  • corporate social performance
  • social investing


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