Socially (ir)responsible investing? The performance of the VICEX Fund from a business cycle perspective
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10.1016/j.frl.2015.11.003 |
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Title
Socially (ir)responsible investing? The performance of the VICEX Fund from a business cycle perspectiveDate
2016-02Publisher
ElsevierISSN
1544-6123; 1544-6131Bibliographic citation
Amparo Soler-Domínguez, Juan Carlos Matallín-Sáez, Socially (ir)responsible investing? The performance of the VICEX Fund from a business cycle perspective, Finance Research Letters, Volume 16, 2016, Pages 190-195, ISSN 1544-6123, https://doi.org/10.1016/j.frl.2015.11.003. (https://www.sciencedirect.com/science/article/pii/S1544612315001257)Type
info:eu-repo/semantics/articleVersion
info:eu-repo/semantics/publishedVersionSubject
Abstract
We assess the performance of the VICEX Fund, which lies at the opposite end of the spectrum to socially responsible mutual funds (SRMF). This fund is morally controversial due to its higher return premium on investments ... [+]
We assess the performance of the VICEX Fund, which lies at the opposite end of the spectrum to socially responsible mutual funds (SRMF). This fund is morally controversial due to its higher return premium on investments in well-established vice companies. The empirical findings provide sufficient evidence to demonstrate that the VICEX Fund outperforms the market and provides higher return premiums than SRMF during expansion periods, but underperforms during times of economic distress. Our findings suggest a link between performance of funds and economic resilience. The VICEX Fund offers investors an excellent opportunity endorsed by its long-run sustainable performance. [-]
Is part of
Finance Research Letters, vol. 16, (2016)Funder Name
Universitat Jaume I | Ministerio de Economía y Competitividad
Project code
P1·1B2014-17 | E-2014-10 | ECO2014-55221-P
Project title or grant
research staff mobility program
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info:eu-repo/semantics/restrictedAccess
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