Institutional Interest in Corporate Responsibility: Portfolio Evidence and Ethical Explanation
Author
Abstract
Suggested Citation
DOI: 10.1007/s10551-011-0859-0
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Diane Del Guercio & Paula A. Tkac, 2000. "The determinants of the flow of funds of managed portfolios: mutual funds versus pension funds," FRB Atlanta Working Paper 2000-21, Federal Reserve Bank of Atlanta.
- Detlev Zwick & Janice Denegri-Knott & Jonathan Schroeder, 2007. "The Social Pedagogy of Wall Street: Stock Trading as Political Activism?," Journal of Consumer Policy, Springer, vol. 30(3), pages 177-199, September.
- Preece, Dianna C. & Filbeck, Greg, 1999. "Family friendly firms: does it pay to care?," Financial Services Review, Elsevier, vol. 8(1), pages 47-60.
- Del Guercio, Diane, 1996. "The distorting effect of the prudent-man laws on institutional equity investments," Journal of Financial Economics, Elsevier, vol. 40(1), pages 31-62, January.
- Meyer, Margaret A & Vickers, John, 1997.
"Performance Comparisons and Dynamic Incentives,"
Journal of Political Economy, University of Chicago Press, vol. 105(3), pages 547-581, June.
- Meyer, Margaret A & Vickers, John, 1995. "Performance Comparisons and Dynamic Incentives," CEPR Discussion Papers 1107, C.E.P.R. Discussion Papers.
- Carroll, Archie B., 1991. "The pyramid of corporate social responsibility: Toward the moral management of organizational stakeholders," Business Horizons, Elsevier, vol. 34(4), pages 39-48.
- Khorana, Ajay, 2001. "Performance Changes following Top Management Turnover: Evidence from Open-End Mutual Funds," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 36(3), pages 371-393, September.
- Obrien, Pc & Bhushan, R, 1990. "Analyst Following And Institutional Ownership," Journal of Accounting Research, Wiley Blackwell, vol. 28, pages 55-76.
- Jacob Rose, 2007. "Corporate Directors and Social Responsibility: Ethics versus Shareholder Value," Journal of Business Ethics, Springer, vol. 73(3), pages 319-331, July.
- Carhart, Mark M, 1997. "On Persistence in Mutual Fund Performance," Journal of Finance, American Finance Association, vol. 52(1), pages 57-82, March.
- Chevalier, Judith & Ellison, Glenn, 1997.
"Risk Taking by Mutual Funds as a Response to Incentives,"
Journal of Political Economy, University of Chicago Press, vol. 105(6), pages 1167-1200, December.
- Judith A. Chevalier & Glenn D. Ellison, 1995. "Risk Taking by Mutual Funds as a Response to Incentives," NBER Working Papers 5234, National Bureau of Economic Research, Inc.
- Chevalier, J. & Ellison, G., 1996. "Risk Taking by Mutual Funds as a Response to Incentives," Working papers 96-3, Massachusetts Institute of Technology (MIT), Department of Economics.
- Patten, Dennis M., 1990. "The market reaction to social responsibility disclosures: The case of the Sullivan principles signings," Accounting, Organizations and Society, Elsevier, vol. 15(6), pages 575-587.
- Acharya, Shanta & Dimson, Elroy, 2007. "Endowment Asset Management: Investment Strategies in Oxford and Cambridge," OUP Catalogue, Oxford University Press, number 9780199210916.
- Guercio, Diane Del & Tkac, Paula A., 2002. "The Determinants of the Flow of Funds of Managed Portfolios: Mutual Funds vs. Pension Funds," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 37(4), pages 523-557, December.
- Paul Cox & Stephen Brammer & Andrew Millington, 2007. "Pension Fund Manager Tournaments and Attitudes Towards Corporate Characteristics," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 34(7‐8), pages 1307-1326, September.
- John Holland, 1998. "Influence and Intervention by Financial Institutions in their Investee Companies," Corporate Governance: An International Review, Wiley Blackwell, vol. 6(4), pages 249-264, October.
- William D. Nordhaus, 2006. "The "Stern Review" on the Economics of Climate Change," NBER Working Papers 12741, National Bureau of Economic Research, Inc.
- Ehrenberg, Ronald G & Bognanno, Michael L, 1990.
"Do Tournaments Have Incentive Effects?,"
Journal of Political Economy, University of Chicago Press, vol. 98(6), pages 1307-1324, December.
- Ronald G. Ehrenberg & Michael L. Bognanno, 1988. "Do Tournaments Have Incentive Effects?," NBER Working Papers 2638, National Bureau of Economic Research, Inc.
- Falkenstein, Eric G, 1996. "Preferences for Stock Characteristics as Revealed by Mutual Fund Portfolio Holdings," Journal of Finance, American Finance Association, vol. 51(1), pages 111-135, March.
- Goriaev, A.P. & Palomino, F.A. & Prat, A., 2000.
"Mutual Fund Tournament : Risk Taking Incentives Induced by Ranking Objectives,"
Discussion Paper
2000-94, Tilburg University, Center for Economic Research.
- Palomino, Frédéric & Prat, Andrea & Goriaev, Alexei P., 2001. "Mutual Fund Tournament: Risk Taking Incentives Induced By Ranking Objectives," CEPR Discussion Papers 2794, C.E.P.R. Discussion Papers.
- Goriaev, A.P. & Palomino, F.A. & Prat, A., 2000. "Mutual Fund Tournament : Risk Taking Incentives Induced by Ranking Objectives," Other publications TiSEM 41aeada1-3d53-4828-bfae-2, Tilburg University, School of Economics and Management.
- Bushee, BJ & Noe, CF, 2000. "Corporate disclosure practices, institutional investors, and stock return volatility," Journal of Accounting Research, Wiley Blackwell, vol. 38, pages 171-202.
- Kyoko Fukukawa & John Balmer & Edmund Gray, 2007. "Mapping the Interface Between Corporate Identity, Ethics and Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 76(1), pages 1-5, November.
- Brown, Keith C & Harlow, W V & Starks, Laura T, 1996. "Of Tournaments and Temptations: An Analysis of Managerial Incentives in the Mutual Fund Industry," Journal of Finance, American Finance Association, vol. 51(1), pages 85-110, March.
- Al-Tuwaijri, Sulaiman A. & Christensen, Theodore E. & Hughes, K. II, 2004. "The relations among environmental disclosure, environmental performance, and economic performance: a simultaneous equations approach," Accounting, Organizations and Society, Elsevier, vol. 29(5-6), pages 447-471.
- Karen Benson & Timothy Brailsford & Jacquelyn Humphrey, 2006. "Do Socially Responsible Fund Managers Really Invest Differently?," Journal of Business Ethics, Springer, vol. 65(4), pages 337-357, June.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Paul Cox & Stephen Brammer & Andrew Millington, 2007. "Pension Fund Manager Tournaments and Attitudes Towards Corporate Characteristics," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 34(7‐8), pages 1307-1326, September.
- Hallahan, Terrence & Faff, Robert, 2009. "Tournament behavior in Australian superannuation funds: A non-parametric analysis," Global Finance Journal, Elsevier, vol. 19(3), pages 307-322.
- Christopher Knittel & Jeffrey Heisler & John J. Neumann & Scott Stewart, 2004. "Why Do Institutional Plan Sponsors Hire and Fire their Investment Managers?," Working Papers 527, University of California, Davis, Department of Economics.
- Basak, Suleyman & Makarov, Dmitry, 2012.
"Difference in interim performance and risk taking with short-sale constraints,"
Journal of Financial Economics, Elsevier, vol. 103(2), pages 377-392.
- Basak, Suleyman & Makarov, Dmitry, 2010. "Difference in Interim Performance and Risk Taking with Short-Sale Constraints," CEPR Discussion Papers 8072, C.E.P.R. Discussion Papers.
- Suleyman Basak & Dmitry Makarov, 2010. "Difference in Interim Performance and Risk Taking with Short-sale Constraints," Working Papers w0159, Center for Economic and Financial Research (CEFIR).
- Suleyman Basak & Dmitry Makarov, 2010. "Difference in Interim Performance and Risk Taking with Short-sale Constraints," Working Papers w0159, New Economic School (NES).
- Christopher Knittel & Jeffrey Heisler & John J. Neumann & Scott Stewart, 2004. "Why Do Institutional Plan Sponsors Hire and Fire their Investment Managers?," Working Papers 1, University of California, Davis, Department of Economics.
- Clemens Sialm & Laura T. Starks & Hanjiang Zhang, 2015.
"Defined Contribution Pension Plans: Sticky or Discerning Money?,"
Journal of Finance, American Finance Association, vol. 70(2), pages 805-838, April.
- Clemens Sialm & Laura Starks & Hanjiang Zhang, 2013. "Defined Contribution Pension Plans: Sticky or Discerning Money?," NBER Working Papers 19569, National Bureau of Economic Research, Inc.
- Clemens Sialm & Laura Starks & Hanjiang Zhang, 2014. "Defined Contribution Pension Plans: Sticky or Discerning Money?," Discussion Papers 13-022, Stanford Institute for Economic Policy Research.
- Loranth Gyongyi & Sciubba Emanuela, 2006.
"Relative Performance, Risk and Entry in the Mutual Fund Industry,"
The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 6(1), pages 1-28, September.
- Lóránth, Gyöngyi & Sciubba, Emanuela, 2002. "Relative Performance, Risk and Entry in the Mutual Fund Industry," CEPR Discussion Papers 3504, C.E.P.R. Discussion Papers.
- Gyöngyi Lóránth & Emanuela Sciubba, 2006. "Relative Performance, Risk and Entry in the Mutual Fund Industry," Birkbeck Working Papers in Economics and Finance 0612, Birkbeck, Department of Economics, Mathematics & Statistics.
- Clemens Sialm & T. Mandy Tham, 2016.
"Spillover Effects in Mutual Fund Companies,"
Management Science, INFORMS, vol. 62(5), pages 1472-1486, May.
- Clemens Sialm & T. Mandy Tham, 2011. "Spillover Effects in Mutual Fund Companies," NBER Working Papers 17292, National Bureau of Economic Research, Inc.
- Chen, Xuanjuan & Yao, Tong & Yu, Tong, 2007. "Prudent man or agency problem? On the performance of insurance mutual funds," Journal of Financial Intermediation, Elsevier, vol. 16(2), pages 175-203, April.
- Matt Pinnuck, 2004. "Stock preferences and derivative activities of Australian fund managers," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 44(1), pages 97-120, March.
- Vikash Ramiah & Imad Moosa & Ben O'Neill & Milica Backulja & Amel Yacoub & Terry Hallahan & John Vaz, 2012. "Tournament behaviour in Malaysian managed funds," International Journal of Managerial Finance, Emerald Group Publishing Limited, vol. 8(4), pages 381-399, September.
- Martin Gold, 2010. "Fiduciary Finance," Books, Edward Elgar Publishing, number 13813.
- Edelen, Roger M. & Ince, Ozgur S. & Kadlec, Gregory B., 2016. "Institutional investors and stock return anomalies," Journal of Financial Economics, Elsevier, vol. 119(3), pages 472-488.
- Carlos Alves & Victor Mendes, 2011. "Does performance explain mutual fund flows in small markets? The case of Portugal," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 10(2), pages 129-147, August.
- David G. Shrider, 2009. "Running From a Bear: How Poor Stock Market Performance Affects the Determinants of Mutual Fund Flows," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 36(7‐8), pages 987-1006, September.
- John M.R. Chalmers & Roger M. Edelen & Gregory B. Kadlec, 1999. "Transaction-cost Expenditures and the Relative Performance of Mutual Funds," Center for Financial Institutions Working Papers 00-02, Wharton School Center for Financial Institutions, University of Pennsylvania.
- Stefan Ruenzi, 2005.
"Mutual Fund Growth in Standard and Specialist Market Segments,"
Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 19(2), pages 153-167, August.
- Stefan Ruenzi, 2004. "Mutual Fund Growth in Standard and Specialist Market Segments," Finance 0406005, University Library of Munich, Germany, revised 27 Jun 2004.
- Ruenzi, Stefan, 2005. "Mutual fund growth in standard an specialist market segments," CFR Working Papers 05-08, University of Cologne, Centre for Financial Research (CFR).
- Beggs, William & Hill-Kleespie, Austin & Liu, Yanguang, 2022. "Mutual fund tax implications when investment advisors manage tax-exempt separate accounts," Journal of Banking & Finance, Elsevier, vol. 134(C).
- Hung, Pi-Hsia & Lien, Donald & Kuo, Ming-Sin, 2020. "Window dressing in equity mutual funds," The Quarterly Review of Economics and Finance, Elsevier, vol. 78(C), pages 338-354.
- Christos Genakos & Mario Pagliero, 2012.
"Interim Rank, Risk Taking, and Performance in Dynamic Tournaments,"
Journal of Political Economy, University of Chicago Press, vol. 120(4), pages 782-813.
- Christos Genakos & Mario Pagliero, 2009. "Interim Rank, Risk Taking and Performance in Dynamic Tournaments," CEP Discussion Papers dp0928, Centre for Economic Performance, LSE.
- Christos Genakos & Mario Pagliero, 2011. "Interim Rank, Risk Taking and Performance in Dynamic Tournaments," Carlo Alberto Notebooks 196, Collegio Carlo Alberto.
More about this item
Keywords
share ownership; corporate responsibility; institutional investment; business ethics;All these keywords.
Statistics
Access and download statisticsCorrections
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:kap:jbuset:v:103:y:2011:i:1:p:143-165. 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.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.