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The Behaviour of Socially Responsible Investments as Financial Assets
Author(s) -
Gerrans Paul,
Kristoffersen Ingebjørg,
ClarkMurphy Marilyn
Publication year - 2004
Publication title -
australian accounting review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.551
H-Index - 36
eISSN - 1835-2561
pISSN - 1035-6908
DOI - 10.1111/j.1835-2561.2004.tb00236.x
Subject(s) - sample (material) , asset (computer security) , business , investment (military) , style (visual arts) , investment style , style analysis , empirical evidence , class (philosophy) , socially responsible investing , finance , asset allocation , accounting , economics , return on investment , open ended investment company , microeconomics , philosophy , computer security , artificial intelligence , law , history , portfolio , chemistry , archaeology , computer science , corporate governance , epistemology , chromatography , political science , production (economics) , politics
This paper examines the behaviour of socially responsible investments (SRIs) as financial assets using a returns‐based style analysis methodology. Conflicting views exist on the risks of SRIs in terms of their exposure to asset classes and industry sectors. This paper provides empirical evidence from a sample of Australian SRI managed funds. The sample SRI funds do not have strong consistent patterns in terms of style. They do not appear to represent a homogenous category of investments, and do not belong in an investment class of their own.