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  1. Why Wine Is Not Glue? The Unresolved Problem of Negative Screening in Socially Responsible Investing.Simone De Colle & Jeffrey G. York - 2009 - Journal of Business Ethics 85 (S1):83 - 95.
    The purpose of socially responsible investing (SRI) is to: (1) allow investors to reflect their personal values and ethics in their choices, and (2) encourage companies to improve their ethical, social, and environmental performance. In order to achieve these ends, the means SRI fund managers employ include the use of negative screening, or the exclusion of companies involved in "sinful" industries. We argue that there are problems with this methodology, both at a theoretical and at a practical level. As a (...)
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  • Ethical Investing: Ethical Investors and Managers.Richard Hudson - 2005 - Business Ethics Quarterly 15 (4):641-657.
    “Ethical investing” is interpreted in the following paper to be the use of non-financial normative criteria by investors in the choice ofsecurities for their portfolios.Ethical investors may aim at fulfilling duties they feel they have, possibly including increasing the amount of good in society through theconsequences of their buying and selling behavior. The main duties are those of not-profiting from bad corporate behavior and of punishing bad (or rewarding good) firms. The main consequence desired is that managers manage corporations in (...)
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  • The Ethics of Investing: Making Money or Making a Difference?Joakim Sandberg - 2008 - Dissertation, University of Gothenburg
    The concepts of 'ethical' and 'socially responsible' investment (SRI) have become increasingly popular in recent years and funds which offer this kind of investment have attracted many individual inve... merstors. The present book addresses the issue of 'How ought one to invest?' by critically engaging with the ideas of the proponents of this movement about what makes 'ethical' investing ethical. The standard suggestion that ethical investing simply consists in refraining from investing in certain 'morally unacceptable companies' is criticised for being (...)
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  • Reflections Upon the Responsive Approach to Corporate Social Responsibility.Jan Tullberg - 2005 - Business Ethics: A European Review 14 (3):261-276.
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  • Doing Business with Rights Violating Regimes Corporate Social Responsibility and Myanmar’s Military Junta.Ian Holliday - 2005 - Journal of Business Ethics 61 (4):329 - 342.
    Whether to do business with rights violating regimes is one of many dilemmas faced by socially responsible corporations. In this article the difficult case of Myanmar is considered. Ruled for decades by a closed and sometimes brutal military elite, the country has long been subject to informal and formal sanctions. However, as sanctions have failed to trigger political reform, it is necessary to review the policy options. The focus here is on the contribution socially responsible corporations might make to change. (...)
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  • Reflections Upon the Responsive Approach to Corporate Social Responsibility.Jan Tullberg - 2005 - Business Ethics 14 (3):261-276.
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  • The Challenges of Socially Responsible Investment Among Institutional Investors: Exploring the Links Between Corporate Pension Funds and Corporate Governance.Laura Albareda Vivó & María Rosario Balaguer Franch - 2009 - Business and Society Review 114 (1):31-57.
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  • Investing in Socially Responsible Companies is a Must for Public Pension Funds – Because There is No Better Alternative.S. Prakash Sethi - 2005 - Journal of Business Ethics 56 (2):99 - 129.
    >With assets of over US$1.0 trillion and growing, public pension funds in the United States have become a major force in the private sector through their holding of equity positions in large publicly traded corporations. More recently, these funds have been expanding their investment strategy by considering a corporations long-term risks on issues such as environmental protection, sustainability, and good corporate citizenship, and how these factors impact a companys long-term performance. Conventional wisdom argues that the fiduciary responsibility of the pension (...)
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  • It’s a Matter of Principle: The Role of Personal Values in Investment Decisions. [REVIEW]William R. Pasewark & Mark E. Riley - 2010 - Journal of Business Ethics 93 (2):237 - 253.
    We investigate the role of personal values in an investment decision in a controlled experimental setting. Participants were asked to choose an investment in a bond issued by a tobacco company or a bond issued by a non-tobacco company that offered an equal or sometimes lower yield. We then surveyed the participants regarding their feelings toward tobacco use to determine whether these values influenced their investment decision. Using factor analysis, we identified investment- and tobacco-related dimensions on which participants’ responses tended (...)
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  • Information Asymmetry and Socially Responsible Investment.Mark Jonathan Rhodes - 2010 - Journal of Business Ethics 95 (1):145 - 151.
    Selecting, applying and reporting on investment screens for socially responsible investing (SRI) presents challenges for companies, investors and fund managers. This article seeks to clarify the nature of these challenges in developing an understanding of the foundations of ethical investment screens. At a conceptual level this work argues that there is a common element to the ethical foundations of SRI, even with very different apparent motivations and investment restrictions. Establishing this commonality assists in explaining the information asymmetry problem inherent in (...)
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  • Fixing the Game? Legitimacy, Morality Policy and Research in Gambling.Rohan Miller & Grant Michelson - 2013 - Journal of Business Ethics 116 (3):601-614.
    It is a truism that some industries are controversial either because the processes employed or the resulting products, for instance, can potentially harm the well-being of people. The controversy that surrounds certain industries can sharply polarise public opinion and debate. In this article, we employ legitimacy theory and morality policy to show how one industry sector (the electronic gaming machine sector as part of the wider gambling industry) is subject to this reaction. We suggest that the difficulty in establishing legitimacy (...)
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  • An Investigation of Real Versus Perceived CSP in S&P-500 Firms.Catherine Liston-Heyes & Gwen Ceton - 2009 - Journal of Business Ethics 89 (2):283-296.
    Firms are spending billions annually in the name of corporate social responsibility (CSR). Whilst markets are increasingly willing to reward good and responsible firms, they lack the instruments to measure corporate social performance (CSP). To convince investors and other stakeholders, firms invest heavily in building a reputation for good corporate behaviour. This article argues that reputations for CSP are often unrepresentative of true CSP and investigates how differences in 'perceived' and 'actual' – as measured by the Fortune and KLD databases, (...)
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  • What’s in a Name: An Analysis of Impact Investing Understandings by Academics and Practitioners.Anna Katharina Höchstädter & Barbara Scheck - 2015 - Journal of Business Ethics 132 (2):449-475.
  • Speaking Truth to Power: Religious Institutions as Both Dissident Organizational Stakeholders and Organizational Partners.Harry J. van Buren - 2007 - Business and Society Review 112 (1):55-72.
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  • The Opportunity Cost of Negative Screening in Socially Responsible Investing.Pieter Jan Trinks & Bert Scholtens - 2017 - Journal of Business Ethics 140 (2):193-208.
    This paper investigates the impact of negative screening on the investment universe as well as on financial performance. We come up with a novel identification process and as such depart from mainstream socially responsible investing literature by concentrating on individual firms’ conduct and by studying a much wider range of issues. Firstly, we study the size and financial performance of fourteen potentially controversial issues: abortion, adult entertainment, alcohol, animal testing, contraceptives, controversial weapons, fur, gambling, genetic engineering, meat, nuclear power, pork, (...)
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  • The Origins and Meanings of Names Describing Investment Practices That Integrate a Consideration of ESG Issues in the Academic Literature.N. S. Eccles & S. Viviers - 2011 - Journal of Business Ethics 104 (3):389-402.
    The aim of this study was to reflect on the origins and meanings of names describing investment practices that integrate a consideration of environmental, social and corporate governance issues in the academic literature. A review of 190 academic papers spanning the period from 1975 to mid-2009 was conducted. This exploratory study evaluated the associations and disassociations of the primary name assigned to this genre of investment with variables grouped into five domains, namely Primary Ethical Position, Investment Strategy, Publication Date, Regions (...)
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  • A History of Scandinavian Socially Responsible Investing.Elias Bengtsson - 2008 - Journal of Business Ethics 82 (4):969-983.
    This article contributes to the literature on national varieties of socially responsible investment (SRI) by demonstrating how Scandinavian SRI developed from the 60s and onwards. Combining findings on Scandinavian SRI with insights from previous research and institutional theory, the article accounts for the role of changes in societal values and norms, the mechanisms by which SRI practices spread, and how investors adopt and transform practices to suit their surrounding institutional contexts. Especially, the article draws attention to how different categories of (...)
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  • Socially Responsible Investment in the Spanish Financial Market.Josep M. Lozano, Laura Albareda & M. Rosario Balaguer - 2006 - Journal of Business Ethics 69 (3):305-316.
    This paper reviews the development of socially responsible investment (SRI) in the Spanish financial market. The year, 1997 saw the appearance in Spain of the first SRI mutual fund, but it was not until late 1999, that major Spanish fund managers offered SRI mutual funds on the retail market. The development of SRI in the Spanish financial market has not experienced the high levels of development seen in other European countries, such as France or Italy, where interest in SRI began (...)
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  • Attraction or Distraction? Corporate Social Responsibility in Macao’s Gambling Industry.Tiffany Cheng Han Leung & Robin Stanley Snell - 2017 - Journal of Business Ethics 145 (3):637-658.
    This paper attempts to investigate how and why organisations in Macao’s gambling industry engage in corporate social responsibility. It is based on an in-depth investigation of Macao’s gambling industry with 49 semi-structured interviews, conducted in 2011. We found that firms within the industry were emphasising pragmatic legitimacy based on both economic and non-economic contributions, in order to project positive images of the industry, while glossing over two domains of adverse externalities: problem gambling among visitors, and the pollution and despoliation of (...)
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  • Elevating the Role of Divestment in Socially Responsible Investing.Cedric Dawkins - 2018 - Journal of Business Ethics 153 (2):465-478.
    The divest movement has focused attention on strategic and ethical differences in the practice of socially responsible investing and highlighted an unnecessary bifurcation of best-of-class engagement and divestment. Although best-of-class engagement is favored as a contemporary and pragmatic approach, this paper calls for a more pronounced recognition of absolute dealbreakers and divestment as an underpinning for best-of-class engagement. After linking divestment and best-of-class engagement to their foundations of absolutism and relativism, respectively, I critique best-of-class engagement and argue that without a (...)
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  • Reflections Upon the Responsive Approach to Corporate Social Responsibility.Jan Tullberg - 2005 - Business Ethics 14 (3):261–276.
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  • From Preaching to Investing: Attitudes of Religious Organisations Towards Responsible Investment. [REVIEW]Céline Louche, Daniel Arenas & Katinka C. Cranenburgh - 2012 - Journal of Business Ethics 110 (3):301-320.
    Religious organisations are major investors with sometimes substantial investment volumes. An important question for them is how to make investments in, and to earn returns from, companies and activities that are consistent with their religious beliefs or that even support these beliefs. Religious organisations have pioneered responsible investment. Yet little is known about their investment attitudes. This article addresses this gap by studying faith consistent investing. Based on a survey complemented by interviews, we investigate religious organisations’ attitudes towards responsible investment (...)
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  • The Heterogeneity of Socially Responsible Investment.Joakim Sandberg, Carmen Juravle, Ted Martin Hedesström & Ian Hamilton - 2009 - Journal of Business Ethics 87 (4):519-533.
    Many writers have commented on the heterogeneity of the socially responsible investment (SRI) movement. However, few have actually tried to understand and explain it, and even fewer have discussed whether the opposite – standardisation – is possible and desirable. In this article, we take a broader perspective on the issue of the heterogeneity of SRI. We distinguish between four levels on which heterogeneity can be found: the terminological, definitional, strategic and practical. Whilst there is much talk about the definitional ambiguities (...)
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  • Saving for Retirement Without Harming Others.Steven Daskal - 2013 - Journal of Business Ethics 113 (1):147-156.
    This article discusses moral issues raised by defined contribution retirement plans, specifically 401(k) plans in the United States. The primary aim is to defend the claim that the federal government ought to require 401(k) plans to include a range of socially responsible investment (SRI) options. The analysis begins with the minimal assumption that corporations engage in behavior that imposes morally impermissible harms on others with sufficient regularity to warrant attention. After motivating this assumption, I argue that individual investors typically share (...)
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  • Investing in Socially Responsible Companies is a Must for Public Pension Funds? Because There is No Better Alternative.S. Prakash Sethi - 2005 - Journal of Business Ethics 56 (2):99-129.
    With assets of over US$1.0 trillion and growing, public pension funds in the United States have become a major force in the private sector through their holding of equity positions in large publicly traded corporations. More recently, these funds have been expanding their investment strategy by considering a corporation's long-term risks on issues such as environmental protection, sustainability, and good corporate citizenship, and how these factors impact a company's long-term performance. Conventional wisdom argues that the fiduciary responsibility of the pension (...)
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  • Doing Business with Rights Violating Regimes Corporate Social Responsibility and Myanmar’s Military Junta.Ian Holliday - 2005 - Journal of Business Ethics 61 (4):329-342.
    Whether to do business with rights violating regimes is one of many dilemmas faced by socially responsible corporations. In this article the difficult case of Myanmar is considered. Ruled for decades by a closed and sometimes brutal military elite, the country has long been subject to informal and formal sanctions. However, as sanctions have failed to trigger political reform, it is necessary to review the policy options. The focus here is on the contribution socially responsible corporations might make to change. (...)
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  • It’s a Matter of Principle: The Role of Personal Values in Investment Decisions.William R. Pasewark & Mark E. Riley - 2010 - Journal of Business Ethics 93 (2):237-253.
  • Strategic Corporate Social Responsibility in Controversial Industry Sectors: The Social Value of Harm Minimisation. [REVIEW]Lindorff Margaret, Prior Jonson Elizabeth & McGuire Linda - 2012 - Journal of Business Ethics 110 (4):457-467.
    This paper examines how it is possible for firms in controversial sectors, which are often marked by social taboos and moral debates, to act in socially responsible ways, and whether a firm can be socially responsible if it produces products harmful to society or individuals. It contends that a utilitarian justification can be used to support the legal and regulated provision of goods and services in these areas, and the regulated and legal provision of these areas produces less harm than (...)
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  • From Preaching to Investing: Attitudes of Religious Organisations Towards Responsible Investment.Céline Louche, Daniel Arenas & Katinka C. van Cranenburgh - 2012 - Journal of Business Ethics 110 (3):301-320.
    Religious organisations are major investors with sometimes substantial investment volumes. An important question for them is how to make investments in, and to earn returns from, companies and activities that are consistent with their religious beliefs or that even support these beliefs. Religious organisations have pioneered responsible investment. Yet little is known about their investment attitudes. This article addresses this gap by studying faith consistent investing. Based on a survey complemented by interviews, we investigate religious organisations’ attitudes towards responsible investment (...)
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  • Do Socially Responsible Fund Managers Really Invest Differently?Karen L. Benson, Timothy J. Brailsford & Jacquelyn E. Humphrey - 2006 - Journal of Business Ethics 65 (4):337-357.
    To date, research into socially responsible investment (SRI), and in particular the socially responsible investment funds industry, has focused on whether investing in SRI assets has any differential impact on investor returns. Prior findings generally suggest that, on a risk-adjusted basis, there is no difference in performance between SRI and conventional funds. This result has led to questions about whether SRI funds are really any different from conventional funds. This paper examines whether the portfolio allocation across industry sectors and the (...)
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