Socially responsible investment in Japanese pensions
AbstractAs the level of retirement-related assets has grown, so too has public and private interest in so-called "Socially Responsible Investment" (SRI), an investment strategy that employs criteria other than the usual financial risk and return factors when selecting firms in which to invest. This study evaluates whether SRI indexes would alter portfolio risk and return patterns for the new defined contribution pension plans currently on offer in Japan. We conclude that SRI funds can be included as an option, albeit with some cost; consequently, mandatory investment in SRI portfolios cannot reasonably be justified.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal Pacific-Basin Finance Journal.
Volume (Year): 14 (2006)
Issue (Month): 5 (November)
Contact details of provider:
Web page: http://www.elsevier.com/locate/pacfin
Other versions of this item:
- Henry Hongbo Jin & Olivia S. Mitchell & John Piggott, 2005. "Socially Responsible Investment in Japanese Pensions," NBER Working Papers 11747, National Bureau of Economic Research, Inc.
- G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
- G20 - Financial Economics - - Financial Institutions and Services - - - General
- G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Bauer, Rob & Koedijk, Kees & Otten, Roger, 2005. "International evidence on ethical mutual fund performance and investment style," Journal of Banking & Finance, Elsevier, vol. 29(7), pages 1751-1767, July.
- Aris Solomon & Jill Solomon & Megumi Suto, 2004. "Can the UK Experience Provide Lessons for the Evolution of SRI in Japan?," Corporate Governance: An International Review, Wiley Blackwell, vol. 12(4), pages 552-566, October.
- Kato, Hideaki Kiyoshi & Loewenstein, Uri & Tsay, Wenyuh, 2002. "Dividend policy, cash flow, and investment in Japan," Pacific-Basin Finance Journal, Elsevier, vol. 10(4), pages 443-473, September.
- Chami, Ralph & Cosimano, Thomas F. & Fullenkamp, Connel, 2002. "Managing ethical risk: How investing in ethics adds value," Journal of Banking & Finance, Elsevier, vol. 26(9), pages 1697-1718, September.
- Bauer, Rob & Koedijk, Kees & Otten, Róger, 2005. "International evidence on ethical mutual fund performance and investment style," Open Access publications from Maastricht University urn:nbn:nl:ui:27-19330, Maastricht University.
- Hiraki, Takato & Inoue, Hideaki & Ito, Akitoshi & Kuroki, Fumiaki & Masuda, Hiroyuki, 2003. "Corporate governance and firm value in Japan: Evidence from 1985 to 1998," Pacific-Basin Finance Journal, Elsevier, vol. 11(3), pages 239-265, July.
- Kiyohiko G. Nishimura & Makoto Saito, 2003. "On Alternatives to Aggressive Demand Policies to Revitalize the Japanese Economy," Asian Economic Papers, MIT Press, vol. 2(3), pages 87-126.
- Alan Gregory & John Matatko & Robert Luther, 1997. "Ethical Unit Trust Financial Performance: Small Company Effects and Fund Size Effects," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 24(5), pages 705-725.
- Gunther Capelle-Blancard & Stéphanie Monjon, 2011.
"The Performance of Socially Responsible Funds: Does the Screening Process Matter?,"
2011-12, CEPII research center.
- Capelle-Blancard, Gunther & Monjon, Stéphanie, 2012. "The Performance of Socially Responsible Funds : Does the Screening Process Matter ?," Open Access publications from UniversitÃ© Paris-Dauphine urn:hdl:123456789/7347, Université Paris-Dauphine.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wendy Shamier).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.