US companies are less likely to disclose details of Corporate Social Responsibility (CSR) in locations with a strong religious presence, but will disclose more in locations where religious groups are not evangelical.
Researchers suggest the common perception of evangelical groups as conservative and sceptical of climate change, puts companies off disclosing CSRs relating to social welfare and the environment.
Research from the University of California and Boston University explored disclosures made by US companies over the period of 2000 - 2011 finding portfolios constructed around religious attributes generate significant returns after disclosures.
Read more at University of California, Boston University