期刊
JOURNAL OF MULTI-CRITERIA DECISION ANALYSIS
卷 20, 期 3-4, 页码 109-125出版社
WILEY
DOI: 10.1002/mcda.1494
关键词
socially responsible investment (SRI); equity mutual funds; corporate social responsibility; environmental performance; KLD; data envelopment analysis (DEA); second-order stochastic dominance (SSD)
类别
资金
- CRSH
- Spanish Ministry of Science and Innovation [ECO2011-28927]
- Fondation Robert Shetoyan
Socially responsible investors pursue financial as well as nonfinancial goals. Whereas the role of financial criteria in investment decisions is well understood, much less is known on the influence of social responsibility considerations. This work seeks to integrate both dimensions within a data envelopment analysis framework consistent with second-order stochastic dominance efficiency. We compare the performance of conventional versus socially responsible mutual funds on an empirical data set. Our data do not support the conjecture that conventional mutual funds exhibit superior overall performance. Copyright (C) 2013 John Wiley & Sons, Ltd.
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