Green and Good? The Investment Performance of US Environmental Mutual Funds

Journal of Business Ethics 103 (2):275-287 (2011)
Increased concern for the environment has increased the number of investment opportunities in mutual funds specialized in promoting responsible environmental attitudes. This article examines the performance and risk sensitivities of US green mutual funds vis-à-vis their conventional peers. We also analyze and compare this performance relative to other socially responsible investing (SRI) mutual funds. In order to implement this analysis, we apply a CAPM-based methodology and find that in the 1987–2009 period, environ- mental funds had lower performance than conventional funds with similar characteristics. However, if we focus on a more recent period (2001–2009), green funds achieved adjusted returns not significantly different from the rest of SRI and conventional mutual funds
Keywords socially responsible investments  mutual funds  performance evaluation  ethical investing  corporate social responsibility
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DOI 10.1007/s10551-011-0865-2
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References found in this work BETA
[author unknown] (2003). Socially Responsible Mutual Funds. Business Ethics: The Magazine of Corporate Responsibility 17 (1):19-19.
[author unknown] (1998). Mutual Fund Performance. Business Ethics: The Magazine of Corporate Responsibility 12 (1):20-20.

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