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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Citations of this work BETA
William R. Pasewark & Mark E. Riley (2010). It's a Matter of Principle: The Role of Personal Values in Investment Decisions. [REVIEW] Journal of Business Ethics 93 (2):237 - 253.
Cory Searcy (2012). Corporate Sustainability Performance Measurement Systems: A Review and Research Agenda. [REVIEW] Journal of Business Ethics 107 (3):239-253.
Ioanna Boulouta (2013). Hidden Connections: The Link Between Board Gender Diversity and Corporate Social Performance. [REVIEW] Journal of Business Ethics 113 (2):185-197.
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.
Felipe Arias Fogliano de Souza Cunha & Carlos Patricio Samanez (2013). Performance Analysis of Sustainable Investments in the Brazilian Stock Market: A Study About the Corporate Sustainability Index (ISE). [REVIEW] Journal of Business Ethics 117 (1):19-36.
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