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  1. Avshalom Madhala Adam & Tal Shavit (2008). How Can a Ratings-Based Method for Assessing Corporate Social Responsibility (Csr) Provide an Incentive to Firms Excluded From Socially Responsible Investment Indices to Invest in Csr? Journal of Business Ethics 82 (4):899 - 905.
    Socially Responsible Investment (SRI) indices play a major role in the stock markets. A connection between doing good and doing well in business is implied. Leading indices, such as the Domini Social Index and others, exemplify the movement toward investing in socially responsible corporations. However, the question remains: Does the ratings-based methodology for assessing corporate social responsibility (CSR) provide an incentive to firms excluded from SRI indices to invest in CSR? Not in its current format. The ratings-based methodology employed by (...)
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  2. Elias Bengtsson (2008). A History of Scandinavian Socially Responsible Investing. Journal of Business Ethics 82 (4):969 - 983.
    This article contributes to the literature on national varieties of socially responsible investment (SRI) by demonstrating how Scandinavian SRI developed from the 60s and onwards. Combining findings on Scandinavian SRI with insights from previous research and institutional theory, the article accounts for the role of changes in societal values and norms, the mechanisms by which SRI practices spread, and how investors adopt and transform practices to suit their surrounding institutional contexts. Especially, the article draws attention to how different categories of (...)
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  3. Tim Benijts (2010). A Framework for Comparing Socially Responsible Investment Markets: An Analysis of the Dutch and Belgian Retail Markets. Business Ethics 19 (1):50-63.
    The increasing popularity of socially responsible investment among individual investors throughout Europe reveals the need for a framework that allows the comparison of socially responsible retail markets in different European countries. This article proposes such a framework, containing 16 different characteristics of socially responsible retail markets describing the size, institutionalization and nature of this market and correcting for differences in the size of countries and financial markets. When this framework was applied to the Dutch and Belgian socially responsible retail markets, (...)
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  4. Karen L. Benson, Timothy J. Brailsford & Jacquelyn E. Humphrey (2006). Do Socially Responsible Fund Managers Really Invest Differently? Journal of Business Ethics 65 (4):337 - 357.
    To date, research into socially responsible investment (SRI), and in particular the socially responsible investment funds industry, has focused on whether investing in SRI assets has any differential impact on investor returns. Prior findings generally suggest that, on a risk-adjusted basis, there is no difference in performance between SRI and conventional funds. This result has led to questions about whether SRI funds are really any different from conventional funds. This paper examines whether the portfolio allocation across industry sectors and the (...)
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  5. James A. Brander (2006). The Effect of Ethical Fund Portfolio Inclusion on Executive Compensation. Journal of Business Ethics 69 (4):317 - 329.
    This paper divides firms in the Standard and Poor’s 500 (S&P 500) into two groups based on inclusion in or exclusion from the Domini Social Index (DSI). Inclusion in the DSI is interpreted as a positive indicator of ethical status. Using data for the 1992–2003 period, I provide evidence that chief executive officer (CEO) compensation, other executive compensation, and director compensation tend to be lower in DSI firms than in other firms in the S&P 500. This applies to the unconditional (...)
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  6. Gordon L. Clark (2000). Moral Sentiments and Reciprocal Obligations: The Case for Pension Fund Investment in Community Development. Ethics, Place and Environment 3 (1):7 – 24.
    Squeezed between increasing entitlement expenditures and static or declining real revenues, state-funded urban development is increasingly perceived as an unaffordable luxury. At the same time, the power and significance of the banking sector is giving way to new kinds of financial institutions that have little or no interest in community development. Not surprisingly, it is often argued that pension funds ought to be more sensitive to community needs. However, some analysts argue that pension funds are properly only the agents of (...)
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  7. Maria Ceu Cortez, Florinda Silva & Nelson Areal (2009). The Performance of European Socially Responsible Funds. Journal of Business Ethics 87 (4):573 - 588.
    Recent years have witnessed an increasing growth in mutual funds that invest according to social criteria. As a consequence, the financial performance of these portfolios has attracted the interest of academics and practitioners. This paper investigates the performance of a sample of socially responsible mutual funds from seven European countries investing globally and/or in the European market. Using unconditional and conditional models, we assess the performance of these funds in comparison to conventional and socially responsible benchmark portfolios. The results show (...)
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  8. Christopher J. Cowton & Joakim Sandberg (2012). Socially Responsible Investment. In Ruth Chadwick (ed.), Encyclopedia of Applied Ethics, 2nd ed. Academic Press.
    Socially responsible investment (SRI) – sometimes termed “ethical investment” – refers to the practice of integrating social, environmental, or ethical criteria into financial investment decisions. Whereas conventional investment focuses upon financial risk and return from stocks and bonds, SRI includes other goals or constraints. It is the nature of the source, and not just the size, of the financial return that is of concern in SRI. This article introduces the principal investment strategies generally pursued under SRI, and then focuses specifically (...)
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  9. Paul Cox, Stephen Brammer & Andrew Millington (2004). An Empirical Examination of Institutional Investor Preferences for Corporate Social Performance. Journal of Business Ethics 52 (1):27-43.
    This study investigates the pattern of institutional shareholding in the U.K. and its relationship with socially responsible behavior by companies within a sample of over 500 UK companies. We estimate a set of ownership models that distinguish between long- and short-term investors and their largest components and which incorporate both aggregated and disaggregated measures of corporate social performance (CSP). The results suggest that long-term institutional investment is positively related to CSP providing further support for earlier studies by Johnson and Greening (...)
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  10. Douglas Cumming & Sofia Johan (2007). Socially Responsible Institutional Investment in Private Equity. Journal of Business Ethics 75 (4):395 - 416.
    This article studies institutional investor allocations to the socially responsible asset class. We propose two elements influence socially responsible institutional investment in private equity: internal organizational structure, and internationalization. We study socially responsible investments from Dutch institutional investments into private equity funds, and compare socially responsible investment across different asset classes and different types of institutional investors (banks, insurance companies, and pension funds). The data indicate socially responsible investment in private equity is 40–50% more common when the decision to implement (...)
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  11. Simone de Colle & Jeffrey G. York (2009). Why Wine is Not Glue? The Unresolved Problem of Negative Screening in Socially Responsible Investing. Journal of Business Ethics 85 (1):83–95.
    The purpose of socially responsible investing (SRI) is to: (1) allow investors to reflect their personal values and ethics in their choices, and (2) encourage companies to improve their ethical, social, and environmental performance. In order to achieve these ends, the means SRI fund managers employ include the use of negative screening, or the exclusion of companies involved in “sinful” industries. We argue that there are problems with this methodology, both at a theoretical and at a practical level. As a (...)
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  12. Stephen Dillenburg, Timothy Greene & O. Homer Erekson (2003). Approaching Socially Responsible Investment with a Comprehensive Ratings Scheme: Total Social Impact. [REVIEW] Journal of Business Ethics 43 (3):167 - 177.
    The socially responsible investment industry (SRI) is slowly changing from a screening, avoidance paradigm to a comprehensive paradigm that seeks to affect corporate behavior. Credible rating systems are a key component of this sea change. Reliable and recognizable social and environmental metrics are critical to this progress. The Total Social Impact (TSI) rating approach is a new social metric scheme based on a comprehensive rating of stakeholder issues. This paper describes the evolution of SRI ratings and the role that TSI (...)
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  13. Neil Stuart Eccles (2010). UN Principles for Responsible Investment Signatories and the Anti-Apartheid SRI Movement: A Thought Experiment. [REVIEW] Journal of Business Ethics 95 (3):415 - 424.
    There appears to be a growing disquiet amongst academics surrounding the ascendancy of 'responsible' investment that is egoist or self-interested in character — 'business case' responsible investment. This ascendancy has in no small measure been associated with the uptake of United Nations Principles for Responsible Investment (PRI) as a de facto standard for mainstream responsible investment. This article contributes to this disquiet. It does this by examining how egoist 'responsible' investors (as endorsed by the PRI) might have behaved had they (...)
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  14. Luis Ferruz, Fernando Muñoz & María Vargas (2012). Managerial Abilities: Evidence From Religious Mutual Fund Managers. [REVIEW] Journal of Business Ethics 105 (4):503-517.
    In this study, we analyze the financial performance and the managerial abilities of religious mutual fund managers, implementing a comparative analysis with conventional mutual funds. We use a broad sample, free of survivorship bias, of religious equity mutual funds from the US market, for the period from January 1994 to September 2010. We build a matched-pair conventional sample in order to compare the results obtained for both kinds of mutual fund managers. We analyze stock-picking and market timing abilities, topics widely (...)
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  15. Luis Ferruz, Fernando Muñoz & Maria Vargas (2010). Stock Picking, Market Timing and Style Differences Between Socially Responsible and Conventional Pension Funds: Evidence From the United Kingdom. Business Ethics 19 (4):408-422.
    As far as we are aware, this study presents the first comparative analysis of the stock picking and market timing abilities of managers of conventional and socially responsible (SR) pension funds, and of their use of superior information. For the United Kingdom, the results obtained show a slight stock picking ability on the part of SR pension fund managers (although it disappears if multifactorial models are considered), and a negative market timing ability on the part of both SR and conventional (...)
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  16. Javier Gil-Bazo, Pablo Ruiz-Verdú & André A. P. Santos (2010). The Performance of Socially Responsible Mutual Funds: The Role of Fees and Management Companies. [REVIEW] Journal of Business Ethics 94 (2):243 - 263.
    In this article, we shed light on the debate about the financial performance of socially responsible investment (SRI) mutual funds by separately analyzing the contributions of before-fee performance and fees to SRI funds' performance, and by investigating the role played by fund management companies in the determination of those variables. We apply the matching estimator methodology to obtain our results and find that in the period 1997–2005, US SRI funds had better beforeand after-fee performance than conventional funds with similar characteristics. (...)
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  17. Katherina Glac (2009). Understanding Socially Responsible Investing: The Effect of Decision Frames and Trade-Off Options. [REVIEW] Journal of Business Ethics 87 (1):41 - 55.
    Over the past two decades, the phenomenon of socially responsible investing has become more widespread. However, knowledge about the individual socially responsible investor is largely limited to descriptive and comparative accounts. The question of "why do some investors practice socially responsible investing and others don't?" is therefore still largely unanswered. To address this shortcoming in the current literature, this paper develops a model of the decision to invest socially responsibly that is grounded in the cognition literature. The hypotheses proposed in (...)
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  18. Terrence Guay, Jonathan P. Doh & Graham Sinclair (2004). Non-Governmental Organizations, Shareholder Activism, and Socially Responsible Investments: Ethical, Strategic, and Governance Implications. [REVIEW] Journal of Business Ethics 52 (1):125-139.
    In this article, we document the growing influence of non-governmental organizations (NGOs) in the realm of socially responsible investing (SRI). Drawing from ethical and economic perspectives on stakeholder management and agency theory, we develop a framework to understand how and when NGOs will be most influential in shaping the ethical and social responsibility orientations of business using the emergence of SRI as the primary influencing vehicle. We find that NGOs have opportunities to influence corporate conduct via direct, indirect, and interactive (...)
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  19. Sirkku Hellsten & Chris Mallin (2006). Are 'Ethical' or 'Socially Responsible' Investments Socially Responsible? Journal of Business Ethics 66 (4):393 - 406.
    In this article we discuss whether it pays to invest ethically. Our aim is to examine corporate social responsibility from philosophical, moral and practical points of views. We focus on two main issues related to ethical investments. Firstly we discuss the moral dilemma of how capitalism has changed its shape in today’s world and from ‘blaming the business’ there is a general attempt to use the markets to promote ethics values and corporate social responsibility. Secondly, we analyze the growth of (...)
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  20. Richard Hudson & Roger Wehrell (2005). Socially Responsible Investors and the Microentrepreneur: A Canadian Case. [REVIEW] Journal of Business Ethics 60 (3):281 - 292.
    Socially responsible investors buy financial securities with two goals: to make a market-based return, and to make companies act in a more socially responsible way. Most research on socially responsible investment deals with investing in stocks traded on major exchanges. We add the case of loaning small amounts of funds to microentrepreneurs through a discussion of a particular case. The case is that of Calmeadow which, in conjunction with the Royal Bank of Canada, set up a microlending project in rural (...)
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  21. Stewart Jones, Sandra van der Laan, Geoff Frost & Janice Loftus (2008). The Investment Performance of Socially Responsible Investment Funds in Australia. Journal of Business Ethics 80 (2):181 - 203.
    Interest in the notion of the possible financial sacrifice suffered by socially responsible investment (SRI) fund investors for considering ethical, social and environmental issues in their investment decisions has spawned considerable academic interest in the performance of SRI funds. Both the Australian and international research literature have yielded largely mixed results. However, several of these studies are hampered by methodological problems which can obscure the significance of reported results, such as the use of small sample sizes, inconsistencies in the time (...)
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  22. Carmen Juravle & Alan Lewis (2008). Identifying Impediments to Sri in Europe: A Review of the Practitioner and Academic Literature. [REVIEW] Business Ethics 17 (3):285–310.
    For more than 15 years, the investment community and the academic community have written extensively on socially responsible investment (SRI). Despite the abundance of SRI thought, the adoption of SRI practices among institutional investors is a comparative rarity. This paper endeavours to achieve two goals. First, by integrating the practitioner and academic literature on the topic, the paper attempts to identify the many impediments to SRI in Europe from an institutional investor's perspective. Second, the paper proposes a unitary framework to (...)
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  23. Alan Lewis & Carmen Juravle (2010). Morals, Markets and Sustainable Investments: A Qualitative Study of 'Champions'. [REVIEW] Journal of Business Ethics 93 (3):483 - 494.
    Sustainable investment (SI), which integrates social, environmental and ethical issues, has grown from a niche market of individual ethical investors to embrace institutional investors (e.g. pension funds) resulting in £764 billion in assets under management in the UK alone [Eurosif, 2008 : ‘European SRI Study 2008’ (Eurosif, Paris)]. Explaining this growth is complex, involving shifts in personal and collective values, reactions to corporate scandals, scientific and media pronouncements about climate change, Government initiatives, responses from financial markets and the influence of (...)
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  24. Alan Lewis & Craig Mackenzie (2000). Support for Investor Activism Among U.K. Ethical Investors. Journal of Business Ethics 24 (3):215 - 222.
    An important goal of ethical investment is to influence companies to improve their ethical and environmental performance. The principal means that many ethical funds employ is passive market signalling, which may not, on its own, have a significant effect. A much more promising approach may be active engagement. This paper reports on a questionnaire study of a sample of 1146 ethical investors in order to assess whether U.K. ethical investors would support more activist ethical investment and whether they would be (...)
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  25. Josep M. Lozano, Laura Albareda & M. Rosario Balaguer (2006). Socially Responsible Investment in the Spanish Financial Market. Journal of Business Ethics 69 (3):305 - 316.
    This paper reviews the development of socially responsible investment (SRI) in the Spanish financial market. The year, 1997 saw the appearance in Spain of the first SRI mutual fund, but it was not until late 1999, that major Spanish fund managers offered SRI mutual funds on the retail market. The development of SRI in the Spanish financial market has not experienced the high levels of development seen in other European countries, such as France or Italy, where interest in SRI began (...)
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  26. William Martin (2009). Socially Responsible Investing: Is Your Fiduciary Duty at Risk? [REVIEW] Journal of Business Ethics 90 (4):549 - 560.
    Socially responsible investing identifies the fiduciary duty and liability for financial advisors serving individual and institutional clients when consulting in the SRI space. This article first discusses the role of a fiduciary emerging from both a legal and an ethical basis. Further, the special aspects of maintaining fiduciary duty and minimizing fiduciary liability are described as they relate to SRI. A number of recommendations are discussed: legal, ethical, and practice. This study argues that prudence focuses more on the process of (...)
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  27. Jonathan McLachlan & John Gardner (2004). A Comparison of Socially Responsible and Conventional Investors. Journal of Business Ethics 52 (1):11-25.
    Socially responsible investment is a rapidly emerging phenomenon within the field of personal investment. However, the factors that lead investors to choose socially responsible investment products are not well understood, especially in an Australian context. This study provides a comparative examination of conventional and socially responsible investors, with the aim of identifying such factors. A total of 55 conventional investors and 54 ethical investors participated in the study by completing mailed questionnaires about their investment and general behaviour and their attitudes (...)
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  28. Greig A. Mill (2006). The Financial Performance of a Socially Responsible Investment Over Time and a Possible Link with Corporate Social Responsibility. Journal of Business Ethics 63 (2):131 - 148.
    This paper empirically examines the financial performance of a UK unit trust that was initially “conventional” and later adopted socially responsible investment (SRI) principles (ethical investment principles). Comparison is made with three similar conventional funds whose investment objectives remained unchanged. Analysis techniques employed in previous studies find similar results: mean risk-adjusted performance is unchanged by the switch to SRI, with no evidence of over-or under-performance relative to the benchmark market index by any of the four funds. More interestingly, changes in (...)
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  29. Jonas Nilsson (2008). Investment with a Conscience: Examining the Impact of Pro-Social Attitudes and Perceived Financial Performance on Socially Responsible Investment Behavior. [REVIEW] Journal of Business Ethics 83 (2):307 - 325.
    This article addresses the growing industry of retail socially responsible investment (SRI) profiled mutual funds. Very few previous studies have examined the final consumer of SRI profiled mutual funds. Therefore, the purpose of this study was to, in an exploratory manner, examine the impact of a number of pro-social, financial performance, and socio-demographic variables on SRI behavior in order to explain why investors choose to invest different proportions of their investment portfolio in SRI profiled funds. An ordinal logistic regression analysis (...)
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  30. Moses L. Pava & Joshua Krausz (1996). The Association Between Corporate Social-Responsibility and Financial Performance: The Paradox of Social Cost. [REVIEW] Journal of Business Ethics 15 (3):321 - 357.
    It is generally assumed that common stock investors are exclusively interested in earning the highest level of future cash-flow for a given amount of risk. This view suggests that investors select a well-diversified portfolio of securities to achieve this goal. Accordingly, it is often assumed that investors are unwilling to pay a premium for corporate behavior which can be described as socially-responsible.Recently, this view has been under increasing attack. According to the Social Investment Forum, at least 538 institutional investors now (...)
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  31. Henry L. Petersen & Harrie Vredenburg (2009). Morals or Economics? Institutional Investor Preferences for Corporate Social Responsibility. Journal of Business Ethics 90 (1):1 - 14.
    This article presents the results of a study that analysed whether social responsibility had any bearing on the decision making of institutional investors. Being that institutional investors prefer socially aligned organizations, this study explored to what extent the corporate actions and/or social/environmental investments influenced their decisions. Our results suggest that there are specific variables that affect the perceived value of the organization, leading to decisions to not only invest, but whether to hold or sell the shares, and therefore having a (...)
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  32. Mark Jonathan Rhodes (2010). Information Asymmetry and Socially Responsible Investment. Journal of Business Ethics 95 (1):145 - 151.
    Selecting, applying and reporting on investment screens for socially responsible investing (SRI) presents challenges for companies, investors and fund managers. This article seeks to clarify the nature of these challenges in developing an understanding of the foundations of ethical investment screens. At a conceptual level this work argues that there is a common element to the ethical foundations of SRI, even with very different apparent motivations and investment restrictions. Establishing this commonality assists in explaining the information asymmetry problem inherent in (...)
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  33. Mark Jonathan Rhodes & Teerooven Soobaroyen (2010). Erratum To: Information Asymmetry and Socially Responsible Investment. [REVIEW] Journal of Business Ethics 95 (1):151-151.
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  34. Benjamin J. Richardson (2009). Keeping Ethical Investment Ethical: Regulatory Issues for Investing for Sustainability. [REVIEW] Journal of Business Ethics 87 (4):555 - 572.
    Regulation must target the financial sector, which often funds and profits from environmentally unsustainable development. In an era of global financial markets, the financial sector has a crucial impact on the state of the environment. The long-standing movement for ethically and socially responsible investment (SRI) has recently begun to advocate environmental standards for financiers. While this movement is gaining more adherents, it has increasingly justified responsible financing as a path to be prosperous, rather than virtuous. This trend partly owes to (...)
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  35. Kyoko Sakuma & Céline Louche (2008). Socially Responsible Investment in Japan: Its Mechanism and Drivers. [REVIEW] Journal of Business Ethics 82 (2):425 - 448.
    The paper explores the emergence and development of socially responsible investment (SRI) in Japan. SRI is a recent field in Japan. It is not clear which model it will follow: the European, American or its own model. Through the analysis of the historical roots of SRI, the key actors and motivations that have contributed to its diffusion, the paper provides explorative grounds to sketch the translation mechanisms of SRI in Japan and offers insight into its future path. Based on primary (...)
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  36. Joakim Sandberg (2013). Ethical Investment. In Hugh LaFollette (ed.), The International Encyclopedia of Ethics. Wiley-Blackwell.
    Ethical investment (also known as social investment, socially responsible investment [SRI], or sustainable investment) typically refers to the practice of integrating putatively ethical, social, or environmental considerations into a financial investment process – for instance, a pension fund's process of deciding what stocks or bonds to buy or sell. Whereas conventional or mainstream investment focuses solely upon financial risk and return, ethical investment thus also includes various nonfinancial goals or constraints in typical investment decisions. This type of investment has grown (...)
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  37. Joakim Sandberg (2013). (Re-)Interpreting Fiduciary Duty to Justify Socially Responsible Investment for Pension Funds? Corporate Governance 21 (5):436-446.
    A critical issue for the future growth of socially responsible investment (SRI) is to what extent institutional investors such as pension funds can be persuaded to engage in it. This paper considers attempts at justifying such engagement stemming from a range of (re-)interpretations of the fiduciary duties owed by pension funds to their beneficiaries, and thereby develops a hypothesis concerning the most effective political or legal remedy. Previous commentary suggests that fiduciary duty either already mandates SRI for pension funds, or (...)
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  38. Joakim Sandberg (2011). What Are Your Investments Doing Right Now? In Wim Vandekerckhove, Jos Leys, Kristian Alm, Bert Scholtens, Silvana Signori & Henry Schäfer (eds.), Responsible Investment in Times of Turmoil. Springer. 165--177.
    Where Weber et al. give us an account of what ESG does to your finances, Joakim Sandberg does the opposite. Sandberg is skeptical regarding the potential of responsible investment when it comes to actually having an impact. He discusses what interaction on the stock market can do for your ESG concerns. Sandberg argues that if we are out to make a change, as individual investors we cannot make much of a difference by refraining from investing in certain kinds of companies.
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  39. Joakim Sandberg (2011). Socially Responsible Investment and Fiduciary Duty: Putting the Freshfields Report Into Perspective. [REVIEW] Journal of Business Ethics 101 (1):143-162.
    A critical issue for the future growth and impact of socially responsible investment (SRI) is whether institutional investors are legally permitted to engage in it – in particular whether it is compatible with the fiduciary duties of trustees. An ambitious report from the United Nations Environment Programme’s Finance Initiative (UNEP FI), commonly referred to as the ‘Freshfields report’, has recently given rise to considerable optimism on this issue among proponents of SRI. The present article puts the arguments of the Freshfields (...)
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  40. Joakim Sandberg (2008). The Ethics of Investing: Making Money or Making a Difference? Dissertation, University of Gothenburg
    The concepts of 'ethical' and 'socially responsible' investment (SRI) have become increasingly popular in recent years and funds which offer this kind of investment have attracted many individual inve... merstors. The present book addresses the issue of 'How ought one to invest?' by critically engaging with the ideas of the proponents of this movement about what makes 'ethical' investing ethical. The standard suggestion that ethical investing simply consists in refraining from investing in certain 'morally unacceptable companies' is criticised for being (...)
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  41. Joakim Sandberg (2007). Should I Invest with My Conscience? Business Ethics: A European Review 16 (1):71–86.
    In this article I discuss the idea that investors have moral reasons to avoid investing in certain business areas based on their own moral views towards these areas. Some has referred to this as ”conscience investing”, and it is a central part of the conception of ethical investing within the socially responsible investment (SRI) movement. I present what I take to be the main arguments for this kind of investing as they are given by those who have defended it, and (...)
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  42. Joakim Sandberg, Carmen Juravle, Ted Martin Hedesström & Ian Hamilton (2009). The Heterogeneity of Socially Responsible Investment. Journal of Business Ethics 87 (4):519 - 533.
    Many writers have commented on the heterogeneity of the socially responsible investment (SRI) movement. However, few have actually tried to understand and explain it, and even fewer have discussed whether the opposite – standardisation – is possible and desirable. In this article, we take a broader perspective on the issue of the heterogeneity of SRI. We distinguish between four levels on which heterogeneity can be found: the terminological, definitional, strategic and practical. Whilst there is much talk about the definitional ambiguities (...)
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  43. S. Prakash Sethi (2005). Investing in Socially Responsible Companies is a Must for Public Pension Funds – Because There is No Better Alternative. Journal of Business Ethics 56 (2):99 - 129.
    >With assets of over US$1.0 trillion and growing, public pension funds in the United States have become a major force in the private sector through their holding of equity positions in large publicly traded corporations. More recently, these funds have been expanding their investment strategy by considering a corporations long-term risks on issues such as environmental protection, sustainability, and good corporate citizenship, and how these factors impact a companys long-term performance. Conventional wisdom argues that the fiduciary responsibility of the pension (...)
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  44. Russell Sparkes & Christopher J. Cowton (2004). The Maturing of Socially Responsible Investment: A Review of the Developing Link with Corporate Social Responsibility. [REVIEW] Journal of Business Ethics 52 (1):45-57.
    This paper reviews the development of socially responsible investment (SRI) over recent years and highlights the prospects for an increasingly strong connection with the practice of corporate social responsibility. The paper argues that not only has SRI grown significantly, it has also matured. In particular, it has become an investment philosophy adopted by a growing proportion of large investment institutions. This shift in SRI from margin to mainstream and the position in which institutional investors find themselves is leading to a (...)
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  45. Robert Taylor (2005). Testing Drugs on Animals: A Test Case for Socially Responsible Investment. Business Ethics 14 (2):164–175.
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  46. Robert Taylor (2000). How New is Socially Responsible Investment? Business Ethics 9 (3):174–179.
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  47. Hai Yap Teoh & Godwin Y. Shiu (1990). Attitudes Towards Corporate Social Responsibility and Perceived Importance of Social Responsibility Information Characteristics in a Decision Context. Journal of Business Ethics 9 (1):71 - 77.
    This study addressed the questions of perceived importance of social responsibility information (SRI) characteristics in a decision context, as well as the attitudes of institutional investors toward social responsibility involvement. The results showed that SRI presently disclosed in company annual reports did not have any significant impact on institutional investors' decisions. However, if SRI were presented in quantified, financial form, and were focused on product improvement and fair business practices, such information would be perceived as more important for investment decisions. (...)
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  48. Peter Waring & John Lewer (2004). The Impact of Socially Responsible Investment on Human Resource Management: A Conceptual Framework. Journal of Business Ethics 52 (1):99-108.
    Socially responsible investment (SRI) has increasingly assumed a major role in global equity markets. In this article we argue that the continued growth in investors seeking to align their ethical concerns with their investment strategies may influence the way in which the employment relationship is managed in publicly-listed corporations. After tracing the historical development of SRI, its implications for the conduct of human resource management (HRM) are examined. We conclude by analysing a number of the key problems associated with investor (...)
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  49. Richard C. Warren (2002). The Responsible Shareholder: A Case Study. Business Ethics 11 (1):14–24.
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  50. Shuangge Wen (2009). Institutional Investor Activism on Socially Responsible Investment: Effects and Expectations. Business Ethics 18 (3):308-333.
    Concentrated attention on institutional investors' activism has been perceived in the last few decades and further intensified in the post-Enron era. A new area of particular significance that has emerged is institutional investors' growing awareness and practice of socially responsible investment (SRI). This article starts by reviewing the importance of institutional investor activism and the historical implication of SRI. Significantly, various elements that give rise to the growth of SRI in the modern business world are considered in detail. It is (...)
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