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An exploration of ethical investment in the UK

Author

Listed:
  • Perks, R.W.
  • Rawlinson, D.H.
  • Ingram, L.

Abstract

This paper examines ethical investment in the UK with particular reference to ethical unit trusts, institutional investors (taking universities as an example), and environmental issues. It begins with a review of relevant literature on corporate social reporting (CSR); reporting to ethical investors is viewed as a subset of CSR; environmental investment decisions are seen as a subset of ethical investment decisions. It outlines the investment policies and practices of the main UK ethical unit trusts and identifies the companies that are most commonly invested in for environmental reasons. The annual reports of those companies are then analysed to establish the extent to which they provide information to meet the needs of investors who select companies on environmental grounds. The results of questionnaire surveys of the investment policies of universities, and of views of student representatives on potential university ethical investment policies are presented. Some of the obstacles that limit the potential for ethical investors to influence the environmental practices of corporations are then outlined.

Suggested Citation

  • Perks, R.W. & Rawlinson, D.H. & Ingram, L., 1992. "An exploration of ethical investment in the UK," The British Accounting Review, Elsevier, vol. 24(1), pages 43-65.
    • Handle: RePEc:eee:bracre:v:24:y:1992:i:1:p:43-65
    DOI: 10.1016/S0890-8389(05)80066-6
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    References listed on IDEAS

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    1. Ingram, Rw & Frazier, Kb, 1980. "Environmental Performance And Corporate Disclosure," Journal of Accounting Research, Wiley Blackwell, vol. 18(2), pages 614-622.
    2. Freedman, Martin & Jaggi, Bikki, 1982. "Pollution disclosures, pollution performance and economic performance," Omega, Elsevier, vol. 10(2), pages 167-176.
    3. Wiseman, Joanne, 1982. "An evaluation of environmental disclosures made in corporate annual reports," Accounting, Organizations and Society, Elsevier, vol. 7(1), pages 53-63, January.
    4. Owen, David L., 1990. "Towards a theory of social investment: A review essay," Accounting, Organizations and Society, Elsevier, vol. 15(3), pages 249-265.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. C. V. Helliar & R. Michaelson & D. M. Power & C. D. Sinclair, 2000. "Using a portfolio management game (Finesse) to teach finance," Accounting Education, Taylor & Francis Journals, vol. 9(1), pages 37-51.
    2. David J. Collison & George Cobb & David M. Power & Lorna A. Stevenson, 2008. "The financial performance of the FTSE4Good indices," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 15(1), pages 14-28, January.
    3. 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.
    4. Déjean, Frédérique, 2004. "Contribution à l'étude de l'investissement socialement responsable : Les stratégies de légitimation des sociétés de gestion," Economics Thesis from University Paris Dauphine, Paris Dauphine University, number 123456789/10473 edited by Colasse, Bernard.
    5. Grace Ibe-enwo & Nicholas Igbudu & Zanete Garanti & Temitope Popoola, 2019. "Assessing the Relevance of Green Banking Practice on Bank Loyalty: The Mediating Effect of Green Image and Bank Trust," Sustainability, MDPI, vol. 11(17), pages 1-16, August.
    6. Junjie Wu & George Lodorfos & Aftab Dean & Georgios Gioulmpaxiotis, 2017. "The Market Performance of Socially Responsible Investment during Periods of the Economic Cycle – Illustrated Using the Case of FTSE," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 38(2), pages 238-251, March.
    7. Frédérique Dejean, 2002. "L'Investissement Socialement Responsable : Une Revue De La Litterature," Post-Print halshs-00584461, HAL.
    8. repec:dau:papers:123456789/3275 is not listed on IDEAS
    9. Kreander, Niklas & Beattie, Vivien & McPhail, Ken, 2009. "Putting our money where their mouth is: Alignment of charitable aims with charity investments – Tensions in policy and practice," The British Accounting Review, Elsevier, vol. 41(3), pages 154-168.
    10. Matthew Haigh & James Guthrie, 2010. "Management practices in Australasian ethical investment products: a role for regulation?," Business Strategy and the Environment, Wiley Blackwell, vol. 19(3), pages 147-163, March.

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