Show me the money; the wages of sin.(Princeton University and University of British Columbia)(Brief article)

Pensions & Investments,  April, 2007  by Parmar, Arundhati

Tags: alcohol, Princeton University, stock, tobacco, University of British Columbia

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Byline: Arundhati Parmar Sin pays. That's the conclusion researchers at Princeton University and the University of British Columbia reached when they found that returns of sin stocks - alcohol, tobacco and gaming - outperformed their wholesome counterparts in the beverage, food and hotel/entertainment industries by 30 basis points per month between 1965 and 2004.

Investors that eschew sin stocks "are giving up 3% to 4% in returns per year,'' said Marcin Kacperczyk, assistant professor of finance at the Sauder School of Business, University of British Columbia, Vancouver, ...

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