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SOCIALLY RESPONSIBLE INVESTING AND PORTFOLIO DIVERSIFICATION
Open accessAbstract
I use a sample of socially responsible stock mutual funds matched to randomly selected conventional funds of similar net assets to investigate differences in characteristics of assets held, portfolio diversification, and variable effects of diversification on investment performance. I find that socially responsible funds do not differ significantly from conventional funds in terms of any of these attributes. Moreover, the effect of diversification on investment performance is not different between the two groups. Both groups underperform the Domini 400 Social Index and S&P 500 during the study period.
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Cited by
Socially responsible investments: Institutional aspects, performance, and investor behavior
Renneboog, L., Ter Horst, J., & Zhang, C. (2008) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2007.12.039 · Cited by 1,753
The effect of socially responsible investing on portfolio performance
Kempf, A., & Osthoff, P. (2007) · European Financial Management · doi:10.1111/j.1468-036x.2007.00402.x · Cited by 851
The price of ethics and stakeholder governance: The performance of socially responsible mutual funds
Renneboog, L., Ter Horst, J., & Zhang, C. (2008) · Journal of Corporate Finance · doi:10.1016/j.jcorpfin.2008.03.009 · Cited by 835
The wages of social responsibility — where are they? A critical review of ESG investing
Halbritter, G., & Dorfleitner, G. (2015) · Review of Financial Economics · doi:10.1016/j.rfe.2015.03.004 · Cited by 586
Corporate social responsibility and financial performance: the “virtuous circle” revisited
Nelling, E., & Webb, E. (2009) · Review of Quantitative Finance and Accounting · doi:10.1007/s11156-008-0090-y · Cited by 583
Metadata
- Authors
- Bello, Z. Y.
- Venue
- Journal of Financial Research
- Publisher
- Wiley
- Published
- 2005-02-02
- Volume
- 28
- Issue
- 1
- Pages
- 41-57
- ISSN
- 0270-2592 (ISSN-L)
- 1475-6803
- OpenAlex
- W1971258233
- Cited by
- 371
- References
- 0
- FWCI
- 23.85
- Type
- journal article
- Language
- en
- Open access
- green
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- Bello, Z. Y. (2005). SOCIALLY RESPONSIBLE INVESTING AND PORTFOLIO DIVERSIFICATION. Journal of Financial Research. https://doi.org/10.1111/j.1475-6803.2005.00113.x
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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