search query: @indexterm Social responsibility / total: 844
reference: 260 / 844
| Author: | Consolandi, C. (et al.) |
| Title: | Global standards and ethical stock indexes: The case of the Dow Jones Sustainability Stoxx Index |
| Journal: | Journal of Business Ethics
2009 : VOL. 87:1 p. 185-197 |
| Index terms: | ethics social responsibility investments performance appraisal funds |
| Language: | eng |
| Abstract: | The increased scrutiny of investors regarding the non-financial aspects of corporate performance has forced portfolio managers to weigh the benefits of "holding the market" against the cost of having positions in companies which are subsequently found to have questionable business practice. The availability of stock indexes based on sustainability screening - "Socially Responsible Investment" (SRI) - offers institutional investors an option with comparatively low costs. This paper explores whether these incentives have been so far detectable with particular reference to the Dow Jones Sustainability Stoxx Index (DJSSI). The performance of this index is analyzed and also an event study is performed to find out whether the stock market evaluation reacts to the inclusion in the DJSSI. The results indicate that the evaluation of the CSR performance of a company is a significant criterion for asset allocation activities. |
SCIMA