Journal of Business Ethics 65 (4):337 - 357 (2006)
|Abstract||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 stock-picking ability of SRI managers are different when compared to conventional fund managers. The study finds that SRI funds exhibit different industry betas consistent with different portfolio positions, but that these differences vary from year to year. It is also found that there is little difference in stock-picking ability between the two groups of fund managers|
|Keywords||C1 350301 Finance 710401 Finance and investment services Business Ethics Socially Responsible Investment Managed Funds Portfolio Composition Ethical Investment Performance Persistence|
|Categories||categorize this paper)|
|Through your library||Configure|
Similar books and articles
Mark Jonathan Rhodes (2010). Information Asymmetry and Socially Responsible Investment. Journal of Business Ethics 95 (1):145 - 151.
Francisco Climent & Pilar Soriano (2011). Green and Good? The Investment Performance of US Environmental Mutual Funds. Journal of Business Ethics 103 (2):275-287.
Jacquelyn E. Humphrey & Darren D. Lee (2011). Australian Socially Responsible Funds: Performance, Risk and Screening Intensity. [REVIEW] Journal of Business Ethics 102 (4):519-535.
Maria Ceu Cortez, Florinda Silva & Nelson Areal (2009). The Performance of European Socially Responsible Funds. Journal of Business Ethics 87 (4):573 - 588.
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.
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.
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.
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.
D. Bruce Johnsen (2003). Socially Responsible Investing: A Critical Appraisal. [REVIEW] Journal of Business Ethics 43 (3):219 - 222.
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.
Added to index2009-01-28
Total downloads14 ( #90,445 of 722,745 )
Recent downloads (6 months)1 ( #60,247 of 722,745 )
How can I increase my downloads?