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| Tekijä: | Benson, K. L. Brailsford, T. J. Humphrey, J. E. |
| Otsikko: | Do socially responsible fund managers really invest differently? |
| Lehti: | Journal of Business Ethics
2006 : JUN I, VOL 65:4, p. 337-357 |
| Asiasana: | social responsibility investors responsibility investments ethics professional ethics funds portfolio management portfolio selection |
| Kieli: | eng |
| Tiivistelmä: | Previous research on socially responsible investment (SRI) has found that, generally, there is no difference in performance between SRI and conventional funds, which has raised the question whether SRI funds are at all different from other funds. This article assesses whether the portfolio allocation across industry sectors and the stock-picking ability of SRI managers are different from those of conventional fund managers. The results indicate that SRI funds show different industry betas consistent with different portfolio positions, but that these differences vary annually. Also, there seems to be little difference in stock-picking ability between the two groups of fund managers. |
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