Looking Beyond Profit

Book excerpt: In this revealing book Peggy Chiu argues against the common belief that maximizing wealth is the primary concern of ordinary small shareholders when they make their share-buying decisions. This fascinating in-depth study of small shareholders provides both theoretical and empirical insights into their personal values and attitudes to corporate social responsibility (CSR). The author establishes that personal values are a major influence on decisions about the type of investments people make and about which companies they choose to invest in. Financial risk and return are far from being the only factors that determine small shareholders' investment decisions - irresponsible behaviour is not acceptable and will not attract investment from this significant group. Looking Beyond Profit is an essential book, not just for encouraging investment managers to look more closely at their environmental impacts, but for finance advisers and all concerned with corporate governance, either as practitioners, researchers, business educators or students.