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| Author: | Climent, F. Soriano, P. |
| Title: | Green and good? The investment performance of US environmental mutual funds |
| Journal: | Journal of Business Ethics
2011 : OCT I, VOL. 103:2, p. 275-287 |
| Index terms: | USA corporate responsibility social responsibility investment ethics performance appraisal |
| Freeterms: | CSR mutual funds |
| Language: | eng |
| Abstract: | This article explores the performance and risk sensitivities of U.S. green mutual funds in relation to their conventional peers. It is also analyzed and compared this performance relative to other socially responsible investing (SRI) mutual funds. In order to implement this analysis, a CAPM-based methodology is applied. It is found that in the period from 1987 to 2009, environmental funds had lower performance than conventional funds with similar characteristics. However, when focusing on a more recent period, that is from 2001 to 2009, green funds achieved adjusted returns not significantly different from the rest of SRI and conventional mutual funds. |
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