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Socially responsible mutual funds: An efficiency comparison among the European countries

Author

Listed:
  • Antonella Basso

    () (Department of Economics, Università Ca' Foscari Venezia)

  • Stefania Funari

    () (Department of Management, Università Ca' Foscari Venezia)

Abstract

The first objective of this contribution is to evaluate the performance of SRI equity mutual funds in the main European countries with three different DEA models. Secondly, with a series of statistical tests we compare the performance of SRI and non SRI mutual funds in the various countries, to determine if SRI mutual funds have to sacrifice something in terms of financial performance. Thirdly, we compare the performance obtained by SRI mutual funds among the different European countries.

Suggested Citation

  • Antonella Basso & Stefania Funari, 2012. "Socially responsible mutual funds: An efficiency comparison among the European countries," Working Papers 3, Department of Management, Università Ca' Foscari Venezia.
  • Handle: RePEc:vnm:wpdman:16
    as

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    File URL: http://virgo.unive.it/wpideas/storage/2012wp3.pdf
    File Function: First version, 2012
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    References listed on IDEAS

    as
    1. Dierkes, Meinolf & Berthoin Antal, Ariane, 1985. "The usefulness and use of social reporting information," EconStor Open Access Articles, ZBW - German National Library of Economics, pages 29-34.
    2. Haniffa, R.M. & Cooke, T.E., 2005. "The impact of culture and governance on corporate social reporting," Journal of Accounting and Public Policy, Elsevier, pages 391-430.
    3. Stephen Brammer & Stephen Pavelin, 2006. "Voluntary Environmental Disclosures by Large UK Companies," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 33(7-8), pages 1168-1188.
    4. Kostant, Peter C., 1999. "Exit, voice and loyalty in the course of corporate governance and counsel's changing role," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 28(3), pages 203-246.
    5. Dierkes, Meinolf & Antal, Ariane Berthoin, 1985. "The usefulness and use of social reporting information," Accounting, Organizations and Society, Elsevier, vol. 10(1), pages 29-34, January.
    6. Xie, Biao & Davidson, Wallace III & DaDalt, Peter J., 2003. "Earnings management and corporate governance: the role of the board and the audit committee," Journal of Corporate Finance, Elsevier, pages 295-316.
    7. 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.
    8. Kanagaretnam, Kiridaran & Mathieu, Robert & Shehata, Mohamed, 2009. "Usefulness of comprehensive income reporting in Canada," Journal of Accounting and Public Policy, Elsevier, pages 349-365.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    SRI mutual funds; Performance evaluation; Data envelopment analysis;

    JEL classification:

    • C65 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Miscellaneous Mathematical Tools
    • G1 - Financial Economics - - General Financial Markets
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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