IDEAS home Printed from https://ideas.repec.org/a/eme/jespps/jes-12-2022-0677.html
   My bibliography  Save this article

Are green and socially responsible funds more efficient than conventional funds? A DEA approaches

Author

Listed:
  • Maria Elisabete Duarte Neves
  • Maria do Castelo Gouveia
  • Adriana Martins
  • Joaquim Carlos da Costa Pinho

Abstract

Purpose - The main goal of this paper is better understand the risk/return trade-off of investing in socially responsible investment funds (SRIF) and green investment funds (GIF). Design/methodology/approach - To achieve our aim a green investment fund portfolio, a socially responsible investment portfolio and a conventional fund (CF) portfolio from the United States of America (USA) were selected to compare the efficiency of these three different portfolios, by using Value-Based Data Envelopment Analysis (DEA) methodology. Findings - The results point out that SRIF and GIF are more efficient than CF. For five years, the CFs have not outperformed the GIF. Originality/value - The results suggest that there is a growing awareness on the part of investors that sustainable companies are the companies that will allow a better quality of life and a more sustainable environment. It seems that somehow managers and investors are aware that the market will compensate them for thinking about a cleaner and more equitable world.

Suggested Citation

  • Maria Elisabete Duarte Neves & Maria do Castelo Gouveia & Adriana Martins & Joaquim Carlos da Costa Pinho, 2023. "Are green and socially responsible funds more efficient than conventional funds? A DEA approaches," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 51(2), pages 261-286, July.
    • Handle: RePEc:eme:jespps:jes-12-2022-0677
    DOI: 10.1108/JES-12-2022-0677
    as

    Download full text from publisher

    File URL: https://www.emerald.com/insight/content/doi/10.1108/JES-12-2022-0677/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://www.emerald.com/insight/content/doi/10.1108/JES-12-2022-0677/full/pdf?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1108/JES-12-2022-0677?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eme:jespps:jes-12-2022-0677. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Emerald Support (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.