Advanced Search
MyIDEAS: Login to save this paper or follow this series

On the Performance of Socially Responsible Investing: Further Evidence

Contents:

Author Info

  • Shalchian, H
  • Mzali, B
  • Lilti, JJ
  • Elbadraoui, K
Registered author(s):

    Abstract

    We examine the relation between corporate social performance and stock portfolios performances. Based on Kinder, Lydenberg and Domini social performance ratings, the study constructs and evaluates different sets of equity portfolios that differ in social performance. The high-ranked portfolios provide, in most cases, higher average returns than their low-ranked counterparts over the 1995-2006 period. In addition, we observe that the relation social-financial performance depends also on the economic cycle and consequently, on the market performance. Socially responsible investments seem to be more popular during bearish market periods and less popular during bullish market periods. Finally, our results suggest that in some industries, the differences of performances are more significant than in others. In other words, the relation social-financial performance seems to be considerably affected by the nature of firms’ activities. Therefore, our empirical results suggest that industry is an important factor that should be taken in consideration in studies on the relation between social and financial performance

    Download Info

    If 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.
    File URL: http://mpra.ub.uni-muenchen.de/42686/
    File Function: original version
    Download Restriction: no

    Bibliographic Info

    Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 42686.

    as in new window
    Length:
    Date of creation: 2012
    Date of revision:
    Handle: RePEc:pra:mprapa:42686

    Contact details of provider:
    Postal: Schackstr. 4, D-80539 Munich, Germany
    Phone: +49-(0)89-2180-2219
    Fax: +49-(0)89-2180-3900
    Web page: http://mpra.ub.uni-muenchen.de
    More information through EDIRC

    Related research

    Keywords: RSE; performance;

    Find related papers by JEL classification:

    This paper has been announced in the following NEP Reports:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:42686. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ekkehart Schlicht).

    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.