Is Performance the Key Issue in SRI Funds? Conclusion and Lessons Learned from Three Decades of Studies
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Metadata
Show full item recordcomunitat-uji-handle:10234/9
comunitat-uji-handle2:10234/8648
comunitat-uji-handle3:10234/146205
comunitat-uji-handle4:
INVESTIGACIONMetadata
Title
Is Performance the Key Issue in SRI Funds? Conclusion and Lessons Learned from Three Decades of StudiesDate
2024-02-03Publisher
Palgrave MacmillanISBN
9783031225383Bibliographic citation
Meyers, S.M., Torres, M.J.M., Ferrero Ferrero, I. (2023). Is Performance the Key Issue in SRI Funds? Conclusion and Lessons Learned from Three Decades of Studies. In: La Torre, M., Leo, S. (eds) Contemporary Issues in Sustainable Finance. Palgrave Studies in Impact Finance. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-031-22539-0_6Type
info:eu-repo/semantics/bookPartPublisher version
https://link.springer.com/chapter/10.1007/978-3-031-22539-0_6Version
info:eu-repo/semantics/publishedVersionSubject
Abstract
This paper conducts a systematic literature review of primary studies that
analyze the relative performance of SRI Equity investment funds vs their conven tional counterparts. The existing literature is analyzed and ... [+]
This paper conducts a systematic literature review of primary studies that
analyze the relative performance of SRI Equity investment funds vs their conven tional counterparts. The existing literature is analyzed and categorized in two sam ples depending on the benchmark used. Based on our research of the period between
1992 to July 2021 we arrive at a total sample of 54 papers. We can conclude that
the vast majority (67%) of the empirical studies show no difference or a not statis tically significant difference in the relative financial performance of SRI funds. We
analyze trends in the literature and suggested “best practices” (sample size, period
of the analysis, and use of multifactor measures). For the studies that use conven tional funds as a benchmark, we analyze the use of the matched pair and the number
of matching criteria. For studies that use an index as a benchmark, we observe dif ferences between studies that use conventional indices, SRI indices, or both. The
results suggest that performance may not be the key issue. We conclude with a de bate on critical issues: ESG as a risk management tool, the relevance of the screen ing process of SRI funds, holding analysis, regulation or skills, and timing abilities
of fund managers [-]
Is part of
La Torre, M., Leo, S. (eds) Contemporary Issues in Sustainable Finance. Palgrave Studies in Impact Finance. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-031-22539-0_6Rights
http://rightsstatements.org/vocab/InC/1.0/
info:eu-repo/semantics/embargoedAccess
info:eu-repo/semantics/embargoedAccess