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Paying to Be Good? U.K. Ethical Investments

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  • Cullis, John G
  • Lewis, Alan
  • Winnett, Adrian

Abstract

Ethical investing raises questions relating both to the possibility of private provision of public goods and to the determination of asset prices in financial markets. In both cases, economists have turned.to more complex, psychologically based models of behavior to provide adequate explanations. Such models show that there is unlikely to be a clearly identifiable cost to ethical investment and suggest the need for closer consideration of the diversity of investors' motives. The discussion is illustrated by reference to the growth and performance of U.K. ethical investments. Copyright 1992 by WWZ and Helbing & Lichtenhahn Verlag AG

Suggested Citation

  • Cullis, John G & Lewis, Alan & Winnett, Adrian, 1992. "Paying to Be Good? U.K. Ethical Investments," Kyklos, Wiley Blackwell, vol. 45(1), pages 3-24.
  • Handle: RePEc:bla:kyklos:v:45:y:1992:i:1:p:3-24
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    References listed on IDEAS

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    Cited by:

    1. Daniel Hogele & Sascha L. Schmidt & Benno Torgler, 2012. "The Influence of Superstars on Organizational Identification of External Stakeholders: Empirical Findings from Professional Soccer," School of Economics and Finance Discussion Papers and Working Papers Series 294, School of Economics and Finance, Queensland University of Technology.
    2. Anett Wins & Bernhard Zwergel, 2016. "Comparing those who do, might and will not invest in sustainable funds: a survey among German retail fund investors," Business Research, Springer;German Academic Association for Business Research, vol. 9(1), pages 51-99, April.
    3. Iván Barreda-Tarrazona & Juan Matallín-Sáez & Mª Balaguer-Franch, 2011. "Measuring Investors’ Socially Responsible Preferences in Mutual Funds," Journal of Business Ethics, Springer, vol. 103(2), pages 305-330, October.
    4. Beal, Diana & Goyen, Michelle, 1998. "'Putting Your Money Where Your Mouth Is' A Profile of Ethical Investors," Financial Services Review, Elsevier, vol. 7(2), pages 129-143.
    5. William Pasewark & Mark Riley, 2010. "It’s a Matter of Principle: The Role of Personal Values in Investment Decisions," Journal of Business Ethics, Springer, vol. 93(2), pages 237-253, May.
    6. Enrico Rubaltelli & Lorella Lotto & Ilana Ritov & Rino Rumiati, 2015. "Moral investing: Psychological motivations and implications," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 10(1), pages 64-75, January.
    7. Nyborg, Karine & Howarth, Richard B. & Brekke, Kjell Arne, 2006. "Green consumers and public policy: On socially contingent moral motivation," Resource and Energy Economics, Elsevier, vol. 28(4), pages 351-366, November.
    8. Brekke, Kjell Arne & Nyborg, Karine, 2008. "Attracting responsible employees: Green production as labor market screening," Resource and Energy Economics, Elsevier, vol. 30(4), pages 509-526, December.
    9. Winnett, Adrian & Lewis, Alan, 2000. "''You'd have to be green to invest in this'': Popular economic models, financial journalism, and ethical investment," Journal of Economic Psychology, Elsevier, vol. 21(3), pages 319-339, June.
    10. Webley, Paul & Lewis, Alan & Mackenzie, Craig, 2001. "Commitment among ethical investors: An experimental approach," Journal of Economic Psychology, Elsevier, vol. 22(1), pages 27-42, February.
    11. Dominique Diouf & Tessa Hebb & El Hadji Touré, 2016. "Exploring Factors that Influence Social Retail Investors’ Decisions: Evidence from Desjardins Fund," Journal of Business Ethics, Springer, vol. 134(1), pages 45-67, March.

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