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.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 11747.
Date of creation: Nov 2005
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Publication status: published as Jin, Henry Hongbo & Mitchell, Olivia S. & Piggott, John, 2006. "Socially responsible investment in Japanese pensions," Pacific-Basin Finance Journal, Elsevier, vol. 14(5), pages 427-438, November.
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Other versions of this item:
- Jin, Henry Hongbo & Mitchell, Olivia S. & Piggott, John, 2006. "Socially responsible investment in Japanese pensions," Pacific-Basin Finance Journal, Elsevier, Elsevier, vol. 14(5), pages 427-438, November.
- 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
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-11-12 (All new papers)
- NEP-FIN-2005-11-12 (Finance)
- NEP-SEA-2005-11-12 (South East Asia)
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