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.
- Language
-
Englisch
- Bibliographic citation
-
Series: CFR working paper ; No. 08-07
- Classification
-
Wirtschaft
Portfolio Choice; Investment Decisions
Financial Institutions and Services: General
Corporate Culture; Diversity; Social Responsibility
- Subject
-
Socially Responsible Mutual Funds
Socially Responsible Investing
Ethical Investment
Kapitalanlage
Ethische Geldanlage
Anlageverhalten
Investmentfonds
USA
- Event
-
Geistige Schöpfung
- (who)
-
Osthoff, Peer
- Event
-
Veröffentlichung
- (who)
-
University of Cologne, Centre for Financial Research (CFR)
- (where)
-
Cologne
- (when)
-
2008
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Osthoff, Peer
- University of Cologne, Centre for Financial Research (CFR)
Time of origin
- 2008
Other Objects (12)
Understanding financial inclusion: What matters and how it matters
What matters in households' inflation expectations?
What Matters in Households' Inflation Expectations?
What Matters in Rural and Microfinance
Financialization: What it is and Why it Matters
Financialization: what it is and why it matters
What really matters: Discounting, technological change and sustainable climate
What do lead banks learn from leveraged loan investors?
Introducing Procedural Utility: Not only What, but also How Matters
New stuff or better ways: What matters to access international markets?
Survival of professional CS:GO teams: What matters? A research note
What type of finance matters for growth? Bayesian model averaging evidence
Understanding financial inclusion: What matters and how it matters
What matters in households' inflation expectations?
What Matters in Households' Inflation Expectations?
What Matters in Rural and Microfinance
Financialization: What it is and Why it Matters
Financialization: what it is and why it matters
What really matters: Discounting, technological change and sustainable climate
What do lead banks learn from leveraged loan investors?
Introducing Procedural Utility: Not only What, but also How Matters
New stuff or better ways: What matters to access international markets?
Survival of professional CS:GO teams: What matters? A research note
What type of finance matters for growth? Bayesian model averaging evidence
Understanding financial inclusion: What matters and how it matters
What matters in households' inflation expectations?
What Matters in Households' Inflation Expectations?
What Matters in Rural and Microfinance
Financialization: What it is and Why it Matters
Financialization: what it is and why it matters
What really matters: Discounting, technological change and sustainable climate
What do lead banks learn from leveraged loan investors?
Introducing Procedural Utility: Not only What, but also How Matters
New stuff or better ways: What matters to access international markets?
Survival of professional CS:GO teams: What matters? A research note