David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
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Journal of Business Ethics 117 (1):137-151 (2013)
We investigate what drives responsible investment of European pension funds. Pension funds are institutional investors who assure the income of part of the population for a long period of time. Increasingly, stakeholders hold pension funds accountable for the non-financial consequences of their investments and many funds have engaged in responsible investing. However, it appears that there is a wide difference between pension funds in this respect. We investigate what determines pension funds’ responsible investments on the basis of a survey of more than 250 pension funds in 15 European countries in 2010. We use multinomial logistic regression and find that especially legal origin of the country, ownership of the pension fund and fund size-related variables are to be associated with pension funds′ responsible investment. For fund size, we establish a curvilinear relationship; especially the smallest and largest pension funds in the sample tend to engage with responsible investing
|Keywords||Pension funds Socially responsible investment Survey Corporate social responsibility Responsible investing Europe Investments Multinomial logistic regression analysis|
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References found in this work BETA
Kristian Alm (2007). Challenges to Investment Ethics in the Norwegian Petroleum Fund: A Newspaper Debate. Philosophica 80 (2):21-43.
Antonio Argandoña & Heidi von Weltzien Hoivik (2009). Corporate Social Responsibility: One Size Does Not Fit All. Collecting Evidence From Europe. [REVIEW] Journal of Business Ethics 89 (3):221 - 234.
Subhabrata Bobby Banerjee (2010). Governing the Global Corporation. Business Ethics Quarterly 20 (2):265-274.
Amir Barnea & Amir Rubin (2010). Corporate Social Responsibility as a Conflict Between Shareholders. Journal of Business Ethics 97 (1):71 - 86.
Elias Bengtsson (2008). A History of Scandinavian Socially Responsible Investing. Journal of Business Ethics 82 (4):969 - 983.
Citations of this work BETA
Riikka Sievänen (2014). Practicalities Bottleneck to Pension Fund Responsible Investment? Business Ethics: A European Review 23 (3):309-326.
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