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Ranking Socially Responsible Mutual Funds Based on the Particular Preferences of the Decision Maker

In: Socially Responsible Investment

Author

Listed:
  • Ana B. Ruiz

    (University of Málaga)

  • Bouchra M’Zali

    (Affiliated Researcher at CRG-ESCA, ESG-UQAM)

  • Paz Méndez-Rodrı́guez

    (Universidad de Oviedo)

Abstract

Several methods for ranking mutual funds based on financial performance have been developed, but few of them propose a ranking methodology based on their non-financial performance. The aim of this chapter is to present two ranking methods for mutual funds based on their socially responsible performance. The ranking approaches suggested can be understood as complement financial information which can help socially responsible mutual fund managers, individual and institutional investors in their portfolio selection process. Both methods use multiple criteria decision analysis (MCDA) techniques, namely, one is based on AHP (Analytic Hierarchy Process) and the other one apply MACBETH (Measuring Attractiveness by a Categorical Based Evaluation Technique). The results reveal that an integrated framework using multiple criteria decision analysis (MCDA) techniques could help the investor in selecting a suitable socially responsible mutual funds portfolio, because the consideration of several criteria reflect more precisely the multiple dimensions of this decision making problem.

Suggested Citation

  • Ana B. Ruiz & Bouchra M’Zali & Paz Méndez-Rodrı́guez, 2015. "Ranking Socially Responsible Mutual Funds Based on the Particular Preferences of the Decision Maker," International Series in Operations Research & Management Science, in: Enrique Ballestero & Blanca Pérez-Gladish & Ana Garcia-Bernabeu (ed.), Socially Responsible Investment, edition 127, chapter 0, pages 227-262, Springer.
    • Handle: RePEc:spr:isochp:978-3-319-11836-9_12
    DOI: 10.1007/978-3-319-11836-9_12
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