Expanding Socially Screened Portfolios

D'Antonio, Louis J.; Johnsen, Tommi; Hutton, R. Bruce

doi:10.3905/joi.1997.408434

Cited by 33 publications

(4 citation statements)

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“…Aside from the overall distribution of results and correlation factors in vote-count studies and meta-analyses, the data allow for examinations of differences in asset classes (D'Antonio, Johnsen, and Hutton 1997;Bhojraj and Sengupta 2003;Eichholtz, Kok, and Quigley 2010) although with limited availability of nonequity classes. In a sub-sample consisting of 751 gross and 334 net studies within the vote-count sample 87.1% analyze equity-linked relations.…”

Section: Sub-effects In Asset Classesmentioning

confidence: 99%

ESG and financial performance: aggregated evidence from more than 2000 empirical studies

Friede

Busch

Bassen

2015

Journal of Sustainable Finance & Investment

2,155

886

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The search for a relation between environmental, social, and governance (ESG) criteria and corporate financial performance (CFP) can be traced back to the beginning of the 1970s. Scholars and investors have published more than 2000 empirical studies and several review studies on this relation since then. The largest previous review study analyzes just a fraction of existing primary studies, making findings difficult to generalize. Thus, knowledge on the financial effects of ESG criteria remains fragmented. To overcome this shortcoming, this study extracts all provided primary and secondary data of previous academic review studies. Through doing this, the study combines the findings of about 2200 individual studies. Hence, this study is by far the most exhaustive overview of academic research on this topic and allows for generalizable statements. The results show that the business case for ESG investing is empirically very well founded. Roughly 90% of studies find a nonnegative ESG-CFP relation. More importantly, the large majority of studies reports positive findings. We highlight that the positive ESG impact on CFP appears stable over time. Promising results are obtained when differentiating for portfolio and nonportfolio studies, regions, and young asset classes for ESG investing such as emerging markets, corporate bonds, and green real estate.

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Section: Sub-effects In Asset Classesmentioning

confidence: 99%

ESG and financial performance: aggregated evidence from more than 2000 empirical studies

Friede

Busch

Bassen

2015

Journal of Sustainable Finance & Investment

2,155

886

View full text Add to dashboard Cite

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“…Sampling period (Grossman & Sharpe, 1986) 1960-1983(D'Antonio et al, 1997) 1990-1996(Travers, 1997) 1992(DiBartolomeo & Kurtz, 1999) 1990(D'Antonio et al, 2000) 1990-1996(Bragdon & Karash, 2002(Epstein & Schnietz, 2002 1999 (Gompers et al, 2003) 1990(Derwall et al, 2005) 1995(Shank et al, 2005(Hill et al, 2007) 1995-2005(Kempf & Osthoff, 2007) 1992(Gil-Bazo et al, 2010-2005(Ito et al, 2013(Brzeszczyński & McIntosh, 2014 2000-2010…”

Section: Referencesmentioning

confidence: 99%

Is Socially Responsible Investment Outperforming Conventional Investment or Not? A Meta—Analysis

AitElMekki¹

2020

AJIBM

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This meta-analysis provides an overview of the current literature on Socially Responsible Investment (SRI). It presents the underlying motivation, history and current best practices. The in-depth analysis examines a large body of research and addresses two key issues. The first objective was to determine the relative performance of SRI vehicles compared to their conventional benchmarks. The analysis revealed a lack of consensus in previous research. Some studies argue that SRI funds perform as well as, and/or worse than conventional benchmarks, while others challenge these findings. The second objective was to analyse the impact of corporate social responsibility on the company's financial performance. Here, the analysis covered almost four decades, from the 1980s to 2020. It examined more than 100 academic studies, with an overall sampling period that ran from 1960 to 2019. The results provide a solid platform for future work. The study provides researchers with a well-documented, structured overview of the existing literature on SRI, and identifies gaps that could be filled by future studies.

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“…2004), by a plethora of financial products (O'Rourke 2003), by tax expenditures for sustainable funds in some countries (VROM 2007), by regulation (Albareda et al . 2007) and the growing body of literature claiming that the returns on SRI in general do not significantly differ from those on more conventional investments (D'Antonio et al . 1997, Guerard 1997, Statman 2000, Bello 2005, Vermeir et al .…”

Section: Introductionmentioning

confidence: 99%

A framework for comparing socially responsible investment markets: an analysis of the Dutch and Belgian retail markets

Benijts¹

2009

Business Ethics: A European Review

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The increasing popularity of socially responsible investment among individual investors throughout Europe reveals the need for a framework that allows the comparison of socially responsible retail markets in different European countries. This article proposes such a framework, containing 16 different characteristics of socially responsible retail markets describing the size, institutionalization and nature of this market and correcting for differences in the size of countries and financial markets. When this framework was applied to the Dutch and Belgian socially responsible retail markets, differences were found with respect to the nature of both markets (specifically the use of non‐financial criteria, the asset allocation, the number of solidarity funds and investors' preferences for socially responsible savings products). Similarities were found with respect to the (absolute and relative) size and the degree of institutionalization of the socially responsible retail markets.

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Expanding Socially Screened Portfolios

Cited by 33 publications

References 0 publications

ESG and financial performance: aggregated evidence from more than 2000 empirical studies

ESG and financial performance: aggregated evidence from more than 2000 empirical studies

Is Socially Responsible Investment Outperforming Conventional Investment or Not? A Meta—Analysis

A framework for comparing socially responsible investment markets: an analysis of the Dutch and Belgian retail markets

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