IDEAS home Printed from https://ideas.repec.org/p/hal/wpaper/hal-02494009.html
   My bibliography  Save this paper

Intérêts et Limites de la labélisation du marché français de l'ISR

Author

Listed:
  • Vincent Lavaine

    (PULV - Pôle Universitaire Léonard de Vinci)

Abstract

Cette étude propose de comparer la performance financière de différents fonds ISR en fonction de leur engagement dans les différents labels ISR français. Les résultats qui en ressortent montrent que les fonds ISR labélisés ne sont pas plus performants que les fonds non labélisés. Cependant, lorsqu'un fond ISR est labélisé plus de deux fois, sa performance financière tend à s'améliorer.

Suggested Citation

  • Vincent Lavaine, 2020. "Intérêts et Limites de la labélisation du marché français de l'ISR," Working Papers hal-02494009, HAL.
    • Handle: RePEc:hal:wpaper:hal-02494009
    Note: View the original document on HAL open archive server: https://hal.science/hal-02494009
    as

    Download full text from publisher

    File URL: https://hal.science/hal-02494009/document
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Jonathan Peillex & Breeda Comyns, 2020. "Pourquoi les sociétés financières décident-elles d’adopter les Principes des Nations Unies pour l’Investissement Responsable ?," Comptabilité - Contrôle - Audit, Association francophone de comptabilité, vol. 26(1), pages 79-117.
    2. Philippe DESBRIERES, 2017. "L’investissement conforme à la Charia est-il socialement responsable ?,Is Shariah compliant investment socially responsible?," Working Papers CREGO 1171001, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations.
    3. Jaballah, Jamil & Peillex, Jonathan & Weill, Laurent, 2018. "Is Being Sharia compliant worth it?," Economic Modelling, Elsevier, vol. 72(C), pages 353-362.
    4. Paul Gompers & Joy Ishii & Andrew Metrick, 2003. "Corporate Governance and Equity Prices," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 118(1), pages 107-156.
    5. Jonathan Peillex & Loredana Ureche-Rangau, 2014. "How does the Market Price of the Corporate Sponsor React to Socially Responsible Fund Introductions?," Bankers, Markets & Investors, ESKA Publishing, issue 131, pages 17-29, July-Augu.
    6. M. Benlemlih & J. Jaballah & Jonathan Peillex, 2018. "Does It Really Pay to Do Better? Exploring the Financial Effects of Changes in CSR Ratings," Post-Print hal-03680601, HAL.
    7. Philippe Desbrières & Elias Erragragui & Jonathan Peillex, 2018. "Is Shariah Compliant Investment Socially Responsible ? [¿ Es la inversión conforme a Shariah una inversión socialmente responsable ?]," Post-Print hal-01879591, HAL.
    8. Peillex, Jonathan & Erragragui, Elias & Bitar, Mohammad & Benlemlih, Mohammed, 2019. "The contribution of market movements, asset allocation and active management to Islamic equity funds’ performance," The Quarterly Review of Economics and Finance, Elsevier, vol. 74(C), pages 32-38.
    9. Marie Brière & Jonathan Peillex & Loredana Ureche-Rangau, 2017. "Do Social Responsibility Screens Matter when Assessing Mutual Fund Performance?," Post-Print hal-02315452, HAL.
    10. Jonathan Peillex & Loredana Ureche-Rangau, 2016. "Identifying the Determinants of the Decision to Create Socially Responsible Funds: An Empirical Investigation," Journal of Business Ethics, Springer, vol. 136(1), pages 101-117, June.
    11. Zakri Y. Bello, 2005. "Socially Responsible Investing And Portfolio Diversification," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 28(1), pages 41-57, March.
    12. George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 84(3), pages 488-500.
    13. Jonathan Peillex & Loredana Ureche-Rangau, 2012. "Création d'un indice boursier islamique sur la place financière de Paris : méthodologie et performance," Revue d'économie financière, Association d'économie financière, vol. 0(3), pages 289-314.
    14. Mohammed Benlemlih & Jamil Jaballah & Jonathan Peillex, 2018. "Does it really pay to do better? Exploring the financial effects of changes in CSR ratings," Applied Economics, Taylor & Francis Journals, vol. 50(51), pages 5464-5482, November.
    15. Carhart, Mark M, 1997. "On Persistence in Mutual Fund Performance," Journal of Finance, American Finance Association, vol. 52(1), pages 57-82, March.
    16. El Ouadghiri, Imane & Guesmi, Khaled & Peillex, Jonathan & Ziegler, Andreas, 2021. "Public Attention to Environmental Issues and Stock Market Returns," Ecological Economics, Elsevier, vol. 180(C).
    17. Darby, Michael R & Karni, Edi, 1973. "Free Competition and the Optimal Amount of Fraud," Journal of Law and Economics, University of Chicago Press, vol. 16(1), pages 67-88, April.
    18. Jonathan Peillex & Loredana Ureche-Rangau, 2016. "Identifying the Determinants of the Decision to Create Socially Responsible Funds: An Empirical Investigation," Post-Print hal-03680597, HAL.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Peillex, Jonathan, 2022. "Comment expliquer la décision de création d’un fond éthique ? [What explain the creation of ethical funds?]," MPRA Paper 115067, University Library of Munich, Germany.
    2. Peillex, Jonathan, 2023. "Réaction des investisseurs à la création de fonds éthiques [Investor reaction to the creation of ethical funds]," MPRA Paper 118930, University Library of Munich, Germany.
    3. Mendiela, Pauline, 2021. "Information security breaches and financial market reaction: the French case," MPRA Paper 105029, University Library of Munich, Germany.
    4. Barda, Kelly, 2020. "Analyser la performance financière des indices boursiers environnementaux [Analyzing financial performance of green stock market indices]," MPRA Paper 102537, University Library of Munich, Germany.
    5. Delâtre, Chloë, 2022. "Désinvestissement des combustibles fossiles: quelles conséquences pour la gestion de portefeuille ? [Fossil fuel divestment and portfolios implications]," MPRA Paper 114633, University Library of Munich, Germany.
    6. Alexandra Huang, 2019. "Déterminants des encours nationaux socialement responsables : Une analyse exploratoire internationale," Working Papers hal-02242796, HAL.
    7. Jonathan Peillex & Sabri Boubaker & Breeda Comyns, 2021. "Does It Pay to Invest in Japanese Women? Evidence from the MSCI Japan Empowering Women Index," Journal of Business Ethics, Springer, vol. 170(3), pages 595-613, May.
    8. El Ouadghiri, Imane & Guesmi, Khaled & Peillex, Jonathan & Ziegler, Andreas, 2021. "Public Attention to Environmental Issues and Stock Market Returns," Ecological Economics, Elsevier, vol. 180(C).
    9. mehagni, soheir, 2019. "Comités de savants islamiques [Islamic boards]," MPRA Paper 92863, University Library of Munich, Germany.
    10. Renneboog, Luc & Ter Horst, Jenke & Zhang, Chendi, 2008. "The price of ethics and stakeholder governance: The performance of socially responsible mutual funds," Journal of Corporate Finance, Elsevier, vol. 14(3), pages 302-322, June.
    11. Shihe Fu & Liwei Shan, 2009. "Corporate Equality and Equity Prices: Doing Well While Doing Good?," EERI Research Paper Series EERI_RP_2009_09, Economics and Econometrics Research Institute (EERI), Brussels.
    12. Alexander Kempf & Peer Osthoff, 2008. "SRI Funds: Nomen est Omen," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 35(9‐10), pages 1276-1294, November.
    13. Francisco José López-Arceiz & Ana José Bellostas-Pérezgrueso & José Mariano Moneva, 2018. "Evaluation of the Cultural Environment’s Impact on the Performance of the Socially Responsible Investment Funds," Journal of Business Ethics, Springer, vol. 150(1), pages 259-278, June.
    14. Alexander, Cindy R. & Bauguess, Scott W. & Bernile, Gennaro & Lee, Yoon-Ho Alex & Marietta-Westberg, Jennifer, 2013. "Economic effects of SOX Section 404 compliance: A corporate insider perspective," Journal of Accounting and Economics, Elsevier, vol. 56(2), pages 267-290.
    15. Peillex, Jonathan & El Ouadghiri, Imane & Gomes, Mathieu & Jaballah, Jamil, 2021. "Extreme heat and stock market activity," Ecological Economics, Elsevier, vol. 179(C).
    16. Alexander Kempf & Peer Osthoff, 2008. "SRI Funds: Nomen est Omen," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 35(9-10), pages 1276-1294.
    17. Abid, Ilyes & Benlemlih, Mohammed & El Ouadghiri, Imane & Peillex, Jonathan & Urom, Christian, 2023. "Fossil fuel divestment and energy prices: Implications for economic agents," Journal of Economic Behavior & Organization, Elsevier, vol. 214(C), pages 1-16.
    18. Fu, Yufen & Wright, Danika & Blazenko, George, 2020. "Ethical Investing Has No Portfolio Performance Cost," Research in International Business and Finance, Elsevier, vol. 52(C).
    19. Manuel Ammann & Philipp Horsch & David Oesch, 2016. "Competing with Superstars," Management Science, INFORMS, vol. 62(10), pages 2842-2858, October.
    20. Ng, Joe Cho Yiu & Leung, Charles Ka Yui & Chan, Suikang, 2022. "Corporate Real Estate Holding and Stock Returns: International Evidence from Listed Companies," MPRA Paper 111691, University Library of Munich, Germany.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:wpaper:hal-02494009. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.