Analysis ot the socially responsible investment funds in Spain. A preliminary study

Abstract

In the last years, the socially responsible investment (SRI) has experienced a great dynamism, and it is facing an important growth, since changes of attitudes are taking place in the economic and social context, towards everything that has to see with aspects of social responsibility, ethical or solidary behaviors. Though also it is true, that not in all the countries is taking place in the same way. In this work, there has been realized an analysis of the evolution and current situation of the SRI funds, as well as of its structure and of the principal events that have helped to its development, especially focusing on the financial Spanish market. On this basis the principal line of the investigation as regards the use of the funds has been analysis of its returns. Thus, in this work, in order to detect if there are significant differences between this type of funds and the conventional funds it has been realized a comparative analysis of the return - risk of these funds with the conventional funds, using the methodology of the matched pair analysis (Mallin et alt., 1995).