SRI funds: Nomen est omen

Arbeitspapier

We test the frequently made claim that SRI funds are conventional funds in disguise. For this purpose, we compare the portfolio holdings of SRI funds to conventional funds concerning their social and environmental standards. Our empirical study of US equity funds shows that SRI funds have a significantly higher ethical ranking than standard funds, i.e., they are not conventional funds in disguise. This result holds for all ethical criteria we investigate. It is stable over time and holds after controlling for several fund characteristics. Finally, we find no evidence that our result is generated by window dressing strategies of SRI funds.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: CFR Working Paper ; No. 07-13

Klassifikation und Themen

• 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

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Kempf, Alexander ; Osthoff, Peer
• Ereignis: Veröffentlichung
• (wer): University of Cologne, Centre for Financial Research (CFR)
• (wo): Cologne
• (wann): 2007

Weitere Informationen

• Handle: http://hdl.handle.net/10419/57726
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ