Business and Society

2013 Moskowitz Prize for Socially Responsible Investing

April 10, 2013 | 2 min read

The 2012 winners of the Moskowitz Prize were Elroy Dimson (London Business School), Oğuzhan Karakaş (Boston College), and Xi Li (Temple University), who were selected from over 40 submissions for their paper “Active Ownership”[1]. The year before, the prize was awarded to a team of North American scholars which determined that firms with strong corporate social responsibility scores enjoy consistently lower costs of capital financing than firms with weaker CSR track records.[2]

Member of the FSinsight Editorial Board Lloyd Kurtz, lecturer of social investing at Berkeley’s Haas School of Business, is the program administrator for the Moskowitz Prize, which is awarded by the Center for Responsible Business every year since 1996. Lloyd is also the initiator of, a highly informative online annotated bibliography of studies of socially responsible investing which is now (also) being hosted by FSinsight.

Submission Deadline:July 1, 2013


The annual Moskowitz Prize recognizes outstanding quantitative research in the field of social and sustainable investing. First presented in 1996 by the Social Investment Forum, the Prize has been administered by the Center for Responsible Business at UC Berkeley’s Haas School of Business since 2005. It is named for Milton Moskowitz, one of the first investigators to publish comparisons of the financial performance of screened and unscreened portfolios. His distinguished works include “The 100 Best Companies to Work for in America”, an annual list published in Fortune magazine, and “The Global Marketplace: 102 of the Most Influential Companies Outside America”.


The $5,000 Prize competition is open to authors of studies relevant to social and sustainable investing. Studies from all business disciplines are welcomed, but should be of a quality suitable for publication in an academic journal. The prize-winning study is selected by a panel of judges from academia and the investment industry and will be accepted for publication in the Journal of Investing. Honorable mention or additional monetary prizes may be awarded at the judges’ discretion. The Moskowitz Prize is administered by an independent group of volunteers in cooperation with the Center for Responsible Business.


Studies from all business disciplines and economics are welcomed. Both published papers and working papers are eligible. Working papers should be of a quality suitable for publication in a peer-reviewed academic journal. Studies will be considered for the Prize only once.

Judging criteria

Entries are reviewed by a jury of scholars and investment professionals. Judging criteria include:

  • Significance to practitioners of social and sustainable responsible investing.
  • Innovativeness of research question and approach.
  • Appropriateness and rigor of methods

Announcement of the winner

The winning study authors will be notified in September and invited to the 24th annual SRI Conference, October 28-30, 2013, in Colorado Springs, Colorado, to be publicly announced and awarded. They will also have a session in which to present their winning study.

How to enter

By e-mail: send electronic version (.pdf, .doc, or .docx format) to Amy Dihn at


Contact Lloyd Kurtz, Prize Administrator, at: orNadja Guenster at


  1. “Better CSR = lower cost of equity capital”, El Ghoul, Mishra, Kwok and Guedhami,, March 14, 2012.
  2. “Moskowitz Winner 2012: The Benefits of CSR Engagement”, Lloyd Kurtz,, October 3, 2012

This article may be reproduced according to our terms of use with attribution (and link, if online) to To be cited as: “Call for papers for 2013 Moskowitz Prize for Socially Responsible Investing”,, April 10, 2013.

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