Review
Green & Sustainable Science & Technology
Markus Koenigsmarck, Martin Geissdoerfer
Summary: An increasing number of investors are considering sustainability factors in their investment processes, which can improve financial and corporate sustainability performance. Despite its importance, there is still no uniform understanding of socially responsible investment (SRI) and a lack of consensus on how to measure sustainability in the investment context. To address this, a structured literature review is conducted to provide a unified definition of SRI and related terms and draw attention to accurate sustainability measurements.
Article
Environmental Sciences
Guifu Chen, Boyu Wei, Liyan Dai
Summary: This study examines the effect of firms' ESG-responsible investments on the investment scale of SWFs and finds that ESG performance attracts SWFs' investment by increasing ROA and reducing risk.
FRONTIERS IN ENVIRONMENTAL SCIENCE
(2022)
Article
Green & Sustainable Science & Technology
Wennanxiang Wang, Ridong Hu, Cheng Zhang, Yang Shen
Summary: Socially responsible investing aims to guide corporate behavior through investing and make a better society. This study empirically examines the promotion effect of mutual funds on the corporate social performance (CSP) of investee companies in China. The analysis shows that mutual funds with a high propensity for SRI promote investee CSP through promoting internal control and demanding better disclosure of social responsibility information, and their promotion effect can substitute for the effects of a good external environment.
Article
Green & Sustainable Science & Technology
Pawel Dec, Piotr Masiukiewicz
Summary: The research shows that most Polish managers support enterprises in conducting sustainable development activities, while experts believe that offering socially responsible financial products by banks is a growing trend in the economy, and these products should have lower fees and margins.
Article
Business
Saheli Nath
Summary: Through the mainstreaming of socially responsible investing (SRI), it is shown that the institutionalization of the divestment movement in the late twentieth century has led to ambiguity in the prior meanings and categorical definitions of ethical investing. This ambiguity has resulted in fund managers adopting different approaches to resolve the ambiguity and has also shifted individual self-expression and agency towards institutional discretion and meaning-making work.
JOURNAL OF BUSINESS ETHICS
(2021)
Article
Business, Finance
Hongfeng Peng, Zhenqi Zhang, John W. Goodell, Mingsheng Li
Summary: This report points out that many mutual funds declare themselves as socially responsible investment (SRI) funds, but it is unclear whether this is just to attract capital or reflects genuine concern. The study finds that companies with better environmental, social, and governance (ESG) performance are more attractive to SRI mutual funds. Moreover, SRI mutual funds positively impact their investee firms' ESG performance through various channels such as ownership structure, board members' international experience, and social media attention.
INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS
(2023)
Article
Business, Finance
Davidson Heath, Daniele Macciocchi, Roni Michaely, Matthew C. Ringgenberg
Summary: Using micro-level data, this study examines the behavior of socially responsible investment (SRI) funds. It finds that despite selecting firms with better environmental and social conduct, SRI funds do not significantly change firm behavior or try to impact it using shareholder proposals. The findings suggest that SRI funds are engaged in impact washing rather than greenwashing.
Article
Green & Sustainable Science & Technology
Alice Martini
Summary: Socially responsible investing (SRI) has evolved from a niche, religion-led exclusionary practice to a mainstream risk analysis strategy for institutional and retail investors. Despite some progress at the international level, the lack of a globally accepted taxonomy on sustainable activities, regulatory clarity, high-quality data, and the complexities in practical and behavioral aspects are major obstacles for the development of the SRI industry globally.
ENVIRONMENT DEVELOPMENT AND SUSTAINABILITY
(2021)
Article
Business
Giovanni Cardillo, Ennio Bendinelli, Giuseppe Torluccio
Summary: This study examines the performance of more sustainable firms compared to other firms during the COVID-19 pandemic in terms of risk-return trade-off and stock market liquidity. The results show that more sustainable firms perform better and are more resilient to the pandemic, with higher cash holdings and liquid assets being important factors. These findings contribute to the understanding of sustainability as a source of corporate resilience to unexpected shocks.
BUSINESS STRATEGY AND THE ENVIRONMENT
(2023)
Article
Business, Finance
Rui Dai, Hao Liang, Lilian Ng
Summary: Corporate customers have a unilateral effect on suppliers' CSR and influence them through positive assortative matching and decision-making processes. Enhanced collaborative CSR efforts improve operational efficiency and firm valuation for both customers and suppliers, but only increase customers' future sales growth.
JOURNAL OF FINANCIAL ECONOMICS
(2021)
Article
Green & Sustainable Science & Technology
Luc Meunier, Sima Ohadi
Summary: Individuals have misconceptions about socially responsible investment, which hinder its development. Education and nudges are needed to promote SRI.
JOURNAL OF CLEANER PRODUCTION
(2022)
Review
Green & Sustainable Science & Technology
Markus Losse, Martin Geissdoerfer
Summary: The research highlights the importance of socially responsible investment in improving the long-term sustainability of economic systems and investment portfolio performance and risk profiles. Through bibliometric analysis and visualization techniques, it provides insights into research trends in the field of socially responsible investment and suggests promising avenues for further research.
JOURNAL OF CLEANER PRODUCTION
(2021)
Article
Business
Amparo Soler-Dominguez, Juan Carlos Matallin-Saez, Diego Victor de Mingo-Lopez, Emili Tortosa-Ausina
Summary: The study examines the relationship between Low Carbon Designation and financial performance, finding that funds with higher sustainability levels perform better. Analysis of socially responsible funds confirms that sustainability leads to improved performance.
BUSINESS STRATEGY AND THE ENVIRONMENT
(2021)
Article
Green & Sustainable Science & Technology
Pyounggu Baek, Taesung Kim
Summary: The study analyzed the HR policies and practices of 46 multinational enterprises listed on the DJSI World 2018/2019, identifying eight major themes and constructing a triangular pyramid for socially responsible HR, with a call to the HR community to demonstrate leadership and promote change towards socially responsible management.
Article
Business, Finance
Gregor Dorfleitner, Christian Kreuzer, Ralf Laschinger
Summary: Based on a dataset of over 400 fund compositions in the years 2003-2018, this paper analyzes the persistence of controversies scores and ESG scores in socially responsible US mutual funds. It becomes apparent that higher-paid managers achieve better results regarding controversies scoring but worse results regarding ESG scoring, compared to lower-paid managers.
FINANCE RESEARCH LETTERS
(2021)
