Socially Responsible Mutual Funds (corrected)
2000; Taylor & Francis; Volume: 56; Issue: 3 Linguagem: Inglês
10.2469/faj.v56.n3.2358
ISSN1938-3312
Autores Tópico(s)Corporate Finance and Governance
ResumoConversations about socially responsible investing are difficult because they combine facts with beliefs. Proponents of socially responsible investing believe that combining social goals with investments does good; opponents believe that such combinations are unwise or even illegitimate. In this article, I try to separate facts from beliefs. I report that the Domini Social Index, an index of socially responsible stocks, did better than the S&P 500 Index and that socially responsible mutual funds did better than conventional mutual funds over the 1990–98 period but the differences between their risk-adjusted returns are not statistically significant. Both groups of mutual funds trailed the S&P 500 Index. Errata
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