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Selectivity and timing abilities of international socially responsible funds

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  • Paulo Leite
  • Maria C�u Cortez

Abstract

This article analyses the selectivity and market timing abilities of international Socially Responsible Investment (SRI) funds, from eight European markets, in comparison to conventional funds with similar characteristics. The results show that differences in market timing abilities of international SRI funds and their conventional peers are not statistically significant. However, SRI funds investing in European equities are significantly worse stock pickers than conventional funds, whereas for funds investing globally, selectivity abilities are similar among both fund groups. Hence, our results suggest that a broader investment universe might increase SRI fund managers' stock picking abilities and, consequently, improve SRI fund performance.

Suggested Citation

  • Paulo Leite & Maria C�u Cortez, 2014. "Selectivity and timing abilities of international socially responsible funds," Applied Economics Letters, Taylor & Francis Journals, vol. 21(3), pages 185-188, February.
    • Handle: RePEc:taf:apeclt:v:21:y:2014:i:3:p:185-188
    DOI: 10.1080/13504851.2013.848015
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    Cited by:

    1. Alda, Mercedes & Vicente, Ruth, 2020. "Behavioural analysis of socially responsible investment managers: specialists versus non-specialists," Research in International Business and Finance, Elsevier, vol. 54(C).
    2. Leite, Paulo & Cortez, Maria Céu, 2015. "Performance of European socially responsible funds during market crises: Evidence from France," International Review of Financial Analysis, Elsevier, vol. 40(C), pages 132-141.
    3. Jitmaneeroj, Boonlert, 2023. "Time-varying fund manager skills of socially responsible investing (SRI) funds in developed and emerging markets," Research in International Business and Finance, Elsevier, vol. 64(C).

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