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Performance of Ethical Mutual Funds in Spain: Sacrifice or Premium?

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  • Angeles Fernandez-Izquierdo

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  • Juan Matallin-Saez
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    Abstract

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    File URL: http://hdl.handle.net/10.1007/s10551-007-9492-3
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    Bibliographic Info

    Article provided by Springer in its journal Journal of Business Ethics.

    Volume (Year): 81 (2008)
    Issue (Month): 2 (August)
    Pages: 247-260

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    Handle: RePEc:kap:jbuset:v:81:y:2008:i:2:p:247-260

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    Web page: http://www.springerlink.com/link.asp?id=100281

    Related research

    Keywords: ethical investment; mutual funds; financial performance; style analysis; bootstrap method;

    References

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    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.:
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    1. Horst, J.R. ter & Nijman, T.E. & Roon, F.A. de, 1998. "Style Analysis and Performance Evaluation of Dutch Mutual Funds," Discussion Paper 1998-50, Tilburg University, Center for Economic Research.
    2. Detzler, Miranda Lam & Wiggins, James B, 1997. " The Performance of Actively Managed International Mutual Funds," Review of Quantitative Finance and Accounting, Springer, vol. 8(3), pages 291-313, May.
    3. Grinblatt, Mark & Titman, Sheridan, 1993. "Performance Measurement without Benchmarks: An Examination of Mutual Fund Returns," The Journal of Business, University of Chicago Press, vol. 66(1), pages 47-68, January.
    4. Luboš Pástor & Robert F. Stambaugh, . "Mutual Fund Performance and Seemingly Unrelated Assets.”," CRSP working papers 527, Center for Research in Security Prices, Graduate School of Business, University of Chicago.
    5. Josep Lozano & Laura Albareda & M. Balaguer, 2006. "Socially Responsible Investment in the Spanish financial market," Journal of Business Ethics, Springer, vol. 69(3), pages 305-316, December.
    6. Gonzalo Rubio, 1993. "Performance measurement of managed portfolios: a survey," Investigaciones Economicas, Fundación SEPI, vol. 17(1), pages 3-41, January.
    7. William N. Goetzmann & Stephen J. Brown, 1998. "Mutual Fund Styles," Yale School of Management Working Papers ysm40, Yale School of Management.
    8. N. Kreander & R.H. Gray & D.M. Power & C.D. Sinclair, 2005. "Evaluating the Performance of Ethical and Non-ethical Funds: A Matched Pair Analysis," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 32(7-8), pages 1465-1493.
    9. Bauer, Bob & Koedijk, Kees & Otten, Roger, 2002. "International Evidence on Ethical Mutual Fund Performance and Investment Style," CEPR Discussion Papers 3452, C.E.P.R. Discussion Papers.
    10. Adler, Michael & Dumas, Bernard, 1983. " International Portfolio Choice and Corporation Finance: A Synthesis," Journal of Finance, American Finance Association, vol. 38(3), pages 925-84, June.
    11. Ferson, Wayne E & Schadt, Rudi W, 1996. " Measuring Fund Strategy and Performance in Changing Economic Conditions," Journal of Finance, American Finance Association, vol. 51(2), pages 425-61, June.
    12. William F. Sharpe, 1965. "Mutual Fund Performance," The Journal of Business, University of Chicago Press, vol. 39, pages 119.
    13. Solnik, Bruno H., 1974. "An equilibrium model of the international capital market," Journal of Economic Theory, Elsevier, vol. 8(4), pages 500-524, August.
    14. Rob Bauer & Jeroen Derwall & Rogér Otten, 2007. "The Ethical Mutual Fund Performance Debate: New Evidence from Canada," Journal of Business Ethics, Springer, vol. 70(2), pages 111-124, January.
    15. Horst, J.R. ter & Nijman, T.E. & Roon, F.A. de, 1998. "Performance analysis of international mutual funds incorporating market frictions," Discussion Paper 1998-51, Tilburg University, Center for Economic Research.
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    Citations

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    Cited by:
    1. Basso, Antonella & Funari, Stefania, 2014. "Constant and variable returns to scale DEA models for socially responsible investment funds," European Journal of Operational Research, Elsevier, vol. 235(3), pages 775-783.
    2. Chad Albrecht & Jeffery Thompson & Jeffrey Hoopes & Pablo Rodrigo, 2010. "Business Ethics Journal Rankings as Perceived by Business Ethics Scholars," Journal of Business Ethics, Springer, vol. 95(2), pages 227-237, August.
    3. Gunther Capelle-Blancard & Stéphanie Monjon, 2011. "The Performance of Socially Responsible Funds: Does the Screening Process Matter?," Working Papers 2011-12, CEPII research center.
    4. Hooi Hooi Lean & Duc Khuong Nguyen, 2014. "Policy uncertainty and performance characteristics of sustainable investments across regions around the global financial crisis," Working Papers 2014-295, Department of Research, Ipag Business School.

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