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| Author: | Eccles, N.S. Viviers, S. |
| Title: | The origins and meanings of names describing investment practices that integrate a consideration of ESG issues in the academic literature |
| Journal: | Journal of Business Ethics
2011 : DEC, VOL 104:3, p. 389-402 |
| Index terms: | investments business ethics corporate governance heuristic methods |
| Freeterms: | investment policy risk-return relationship socially responsible investment |
| Language: | eng |
| Abstract: | This study aims to reflect on the origins and meanings of names describing investment practices that integrate environmental, social and corporate governance issues in the academic literature from 1975 to mid-2009. The study indicated that papers expressing a deontological ethical position were more frequently associated with the name Ethical Investment. Positive screening, best-in-class and cause-based investing were seldom associated with Responsible Investment. Finally, the study yielded some hints that the name Responsible Investment might be linked to an egoist ethical position. Therefore, we follow the heuristic tradition set by Sparkes, and suggest that Responsible Investment be defined as 'Investment practices that integrate a consideration of ESG issues with the primary purpose of delivering higher-risk-adjusted financial returns'. |
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