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Utz, Sebastian ; Wimmer, Maximilian

Are they any good at all? A financial and ethical analysis of socially responsible mutual funds

Article

Utz, Sebastian and Wimmer, Maximilian (2014) Are they any good at all? A financial and ethical analysis of socially responsible mutual funds. Journal of Asset Management 15 (1), pp. 72-82.

DOI to cite this document: 10.5283/epub.28511


Abstract

In this article, we examine a broad sample of socially responsible (SR) and conventional mutual funds with respect to financial and ethical parameters. We cannot document profound differences in their financial performance. With regard to ethical performance, we indeed find that an investor who seeks to avoid the least ethical of all available funds can do so by purchasing SR mutual funds. Still, ...

In this article, we examine a broad sample of socially responsible (SR) and conventional mutual funds with respect to financial and ethical parameters. We cannot document profound differences in their financial performance. With regard to ethical performance, we indeed find that an investor who seeks to avoid the least ethical of all available funds can do so by purchasing SR mutual funds. Still, we also demonstrate that SR mutual funds are not holding considerably more ethical assets on average. Moreover, the label ‘SR mutual fund’ does not in any way guarantee the exclusion of clearly unethical firms, which contrasts to the common perception of screening out poor assets.



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Details

Item typeArticle
Journal or Publication TitleJournal of Asset Management
PublisherPalgrave Macmillan
Volume15
Number of Issue or Book Chapter1
Number of Pages17
Page Rangepp. 72-82
Date13 February 2014
Date of publication19 Jul 2013 08:28
InstitutionsBusiness, Economics and Information Systems > Institut für Betriebswirtschaftslehre > Lehrstuhl für Finanzierung (Prof. Dr. Gregor Dorfleitner)
Identification Number
ValueType
10.1057/jam.2014.8DOI
Related URLs
URLURL Type
http://www.palgrave-journals.com/jam/journal/v15/n1/abs/jam20148a.htmlPublisher
Keywordssocially responsible Investment, performance analysis, mutual funds, ESG-scores
Dewey Decimal Classification300 Social sciences > 330 Economics
StatusPublished
RefereedYes, this version has been refereed
Created at the University of RegensburgYes
URN of the UB Regensburgurn:nbn:de:bvb:355-epub-285116
Item ID28511

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