David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
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Journal of Business Ethics 75 (4):395 - 416 (2007)
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 such an investment plan is centralised with a single chief investment officer. Socially responsible investment in private equity is also more common among institutional investors with a greater international investment focus, and less common among fund-of-fund private equity investments.
|Keywords||socially responsible investment international institutional investment private equity|
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References found in this work BETA
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.
Laura J. Spence, René Schmidpeter & André Habisch (2003). Assessing Social Capital: Small and Medium Sized Enterprises in Germany and the U.K. [REVIEW] Journal of Business Ethics 47 (1):17 - 29.
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.
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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.
Citations of this work BETA
Riikka Sievänen, Hannu Rita & Bert Scholtens (2013). The Drivers of Responsible Investment: The Case of European Pension Funds. [REVIEW] Journal of Business Ethics 117 (1):137-151.
Kevin Morrell & Ian Clark (2010). Private Equity and the Public Good. Journal of Business Ethics 96 (2):249 - 263.
Douglas Cumming, Grant Fleming, Sofia Johan & Mai Takeuchi (2010). Legal Protection, Corruption and Private Equity Returns in Asia. Journal of Business Ethics 95 (2):173 - 193.
Patricia Crifo & Vanina D. Forget (2013). Think Global, Invest Responsible: Why the Private Equity Industry Goes Green. [REVIEW] Journal of Business Ethics 116 (1):21-48.
Mariarosa Scarlata & Luisa Alemany (2010). Deal Structuring in Philanthropic Venture Capital Investments: Financing Instrument, Valuation and Covenants. [REVIEW] Journal of Business Ethics 95 (2):121 - 145.
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