David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
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Journal of Business Ethics 76 (3):243 - 252 (2007)
Most studies into the performance of socially responsible investment vehicles have focused on the performance of sustainable or socially responsible mutual funds. This research has been complemented recently by a number of studies that have examined the performance of sustainable investment indices. In both cases, the majority of studies have concluded that the returns of socially responsible investment vehicles have either underperformed, or failed to outperform, comparable market indices. Although the impact of sustainable indices to date has been limited, the recent launch of sustainable indices by Dow Jones and FTSE suggests that more attention is being paid to the subject by financial markets, investors, and companies. This development raises a number of important issues which are reviewed in this article: (a) the performance of indices compared with their benchmark indices; (b) the methodologies employed in compiling the indices; and (c) the impact of the indices on companies and the investment community. The article concludes with a number of suggestions for areas that merit future research.
|Keywords||CSR SRI sustainable indices sustainable investing sustainable mutual funds|
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References found in this work BETA
Steve Schueth (2003). Socially Responsible Investing in the United States. Journal of Business Ethics 43 (3):189 - 194.
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Citations of this work BETA
Ioanna Boulouta (2013). Hidden Connections: The Link Between Board Gender Diversity and Corporate Social Performance. [REVIEW] Journal of Business Ethics 113 (2):185-197.
Cory Searcy (2012). Corporate Sustainability Performance Measurement Systems: A Review and Research Agenda. [REVIEW] Journal of Business Ethics 107 (3):239-253.
Michael Robinson, Anne Kleffner & Stephanie Bertels (2011). Signaling Sustainability Leadership: Empirical Evidence of the Value of DJSI Membership. [REVIEW] Journal of Business Ethics 101 (3):493-505.
Ioanna Boulouta & Christos N. Pitelis (2013). Who Needs CSR? The Impact of Corporate Social Responsibility on National Competitiveness. Journal of Business Ethics 119 (3):1-16.
Isabel Costa Lourenço, Jeffrey Lawrence Callen, Manuel Castelo Branco & José Dias Curto (2014). The Value Relevance of Reputation for Sustainability Leadership. Journal of Business Ethics 119 (1):17-28.
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