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dc.contributor.authorSchröder, Michaelen_US
dc.date.accessioned2009-02-16T15:12:39Z-
dc.date.available2009-02-16T15:12:39Z-
dc.date.issued2003en_US
dc.identifier.urihttp://hdl.handle.net/10419/24813-
dc.description.abstractThe aim of this study is the analysis of so called socially responsible investments (SRI). First, the performance of SRI equity investment funds and equity indices is investigated using Jensen´s alpha as performance measure. The analysis considers market timing strategies of the fund management and takes publicly available information into account (conditional performance). In the second part sensitivities regarding macroeconomic factors are estimated and the third part investigates the investment style of the SRI funds and indices. It is found that most of the SRI assets have a similar performance than their benchmarks. Only a few funds and indices exhibit a relatively poor performance. As SRI funds and indices seem to have some specific risk-return characteristics (investment styles) that might be characterised as special investment vehicles different from conventional assets.en_US
dc.language.isoengen_US
dc.publisherZentrum für Europäische Wirtschaftsforschung (ZEW) Mannheim-
dc.relation.ispartofseriesZEW Discussion Papers 03-10en_US
dc.subject.jelG11en_US
dc.subject.jelG23en_US
dc.subject.jelQ20en_US
dc.subject.jelQ01en_US
dc.subject.ddc330en_US
dc.subject.keywordSocially responsible investingen_US
dc.subject.keywordperformance measurementen_US
dc.subject.keywordinvestment styleen_US
dc.subject.keywordinvestment fundsen_US
dc.subject.stwInvestmentfondsen_US
dc.subject.stwUnternehmensethiken_US
dc.subject.stwVerantwortungen_US
dc.subject.stwUmweltschutzen_US
dc.subject.stwWertpapieranalyseen_US
dc.subject.stwSchätzungen_US
dc.subject.stwDeutschlanden_US
dc.subject.stwSchweizen_US
dc.subject.stwVereinigte Staatenen_US
dc.subject.stwJensen alphaen_US
dc.titleSocially Responsible Investments in Germany, Switzerland and the United States: An Analysis of Investment Funds and Indicesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn362397201en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:zewdip:955-
Appears in Collections:Publikationen von Forscherinnen und Forschern des ZEW
ZEW Discussion Papers

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