Arbeitspapier
What matters to SRI investors?
In this paper I investigate the investment behavior of SRI investors based on SRI mutual fund flows. Specifically, I analyze how SRI investors react to past performance and ethical standards. This empirical study shows that over the years along with the development of the SRI fund market, the performance sensitivity of SRI investors has increased. Today, SRI investors chase past top performing funds at least as much as conventional investors do. Besides performance, SRI investors care about the actual ethical standards of SRI funds. SRI funds with high ethical standards regarding the positive rating and especially regarding environment attract higher inflows. I also find that SRI investors are more likely to reinvest in the same fund. Overall, I conclude that, like conventional investors, nowadays SRI investors chase previously top performing funds, but additionally pay attention to the actual ethical standards of their investments.
- Sprache
-
Englisch
- Erschienen in
-
Series: CFR working paper ; No. 08-07
- Klassifikation
-
Wirtschaft
Portfolio Choice; Investment Decisions
Financial Institutions and Services: General
Corporate Culture; Diversity; Social Responsibility
- Thema
-
Socially Responsible Mutual Funds
Socially Responsible Investing
Ethical Investment
Kapitalanlage
Ethische Geldanlage
Anlageverhalten
Investmentfonds
USA
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Osthoff, Peer
- Ereignis
-
Veröffentlichung
- (wer)
-
University of Cologne, Centre for Financial Research (CFR)
- (wo)
-
Cologne
- (wann)
-
2008
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Osthoff, Peer
- University of Cologne, Centre for Financial Research (CFR)
Entstanden
- 2008
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