Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/24813 
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dc.contributor.authorSchröder, Michaelen
dc.date.accessioned2009-02-16T15:12:39Z-
dc.date.available2009-02-16T15:12:39Z-
dc.date.issued2003-
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
dc.language.isoengen
dc.publisher|aZentrum für Europäische Wirtschaftsforschung (ZEW) |cMannheimen
dc.relation.ispartofseries|aZEW Discussion Papers |x03-10en
dc.subject.jelG11en
dc.subject.jelG23en
dc.subject.jelQ20en
dc.subject.jelQ01en
dc.subject.ddc330en
dc.subject.keywordSocially responsible investingen
dc.subject.keywordperformance measurementen
dc.subject.keywordinvestment styleen
dc.subject.keywordinvestment fundsen
dc.subject.stwInvestmentfondsen
dc.subject.stwUnternehmensethiken
dc.subject.stwVerantwortungen
dc.subject.stwUmweltschutzen
dc.subject.stwWertpapieranalyseen
dc.subject.stwSchätzungen
dc.subject.stwDeutschlanden
dc.subject.stwSchweizen
dc.subject.stwVereinigte Staatenen
dc.subject.stwJensen alphaen
dc.titleSocially Responsible Investments in Germany, Switzerland and the United States: An Analysis of Investment Funds and Indices-
dc.typeWorking Paperen
dc.identifier.ppn812666143en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:zewdip:955en

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