“Stock investors punish companies caught doing something unethical a lot more when these businesses also have a record of portraying themselves as virtuous. This hypocrisy penalty is the main finding of a study we recently published in the Journal of Management.”

[COMMENTARY] The results of this study make sense.
Hypocrisy penalty: Investors especially hate companies that say they’re good then behave badly – unless the money is good, by Brian L. Connelly and Lori Trudell, July 27, 2023, The Conversation, Canada.