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The performance of socially responsible investments: A meta‐analysis.
- Source :
- European Financial Management; Mar2024, Vol. 30 Issue 2, p1012-1061, 50p
- Publication Year :
- 2024
-
Abstract
- In this article, we use a meta‐analysis to examine the performance of socially responsible investing (SRI). We find that, on average, SRI neither outperforms nor underperforms the market portfolio. However, in line with modern portfolio theory, we find that global SRI portfolios outperform regional subportfolios. Moreover, high‐quality publications, publications in finance journals and authors who publish more frequently on SRI are all less likely to report SRI outperformance. In particular, we find that including more factors in a capital market model reduces the likelihood that a study will find SRI outperformance. [ABSTRACT FROM AUTHOR]
- Subjects :
- ETHICAL investments
ENVIRONMENTAL, social, & governance factors
CAPITAL market
Subjects
Details
- Language :
- English
- ISSN :
- 13547798
- Volume :
- 30
- Issue :
- 2
- Database :
- Complementary Index
- Journal :
- European Financial Management
- Publication Type :
- Academic Journal
- Accession number :
- 175826617
- Full Text :
- https://doi.org/10.1111/eufm.12439