Download or read book Impact of Ethical Screening on Investment Performance written by Abul Hassan and published by . This book was released on 2018 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Islamic ethical investors apply both Shari[ah and financial criteria when evaluating investments in order to ensure that the securities selected are consistent with their value system and beliefs. This paper examines the potential impact of these restrictions on investment performance by comparing the performance characteristics of a diversified portfolio of Islamic screened stocks with conventional benchmark portfolio. In contrast to prior research on ethical investment, the performance of Islamic ethical portfolio examined in this paper is not subject to the confounding effects of transaction costs, management fees, or differences in investment policy that are associated with actively managed funds. Contrary to expectations, our findings indicate that application of Islamic ethical screens do not necessarily have an adverse impact on investment performance.

Download or read book Impact of Ethical Screening on Investment Performance in India written by CA. (Dr.) Hemlata Chelawat and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Ethical investment means integrating investment decisions with concerns for the environment and society. It is broadly about management of financial resources in a responsible way that maximizes financial returns together with social and environmental good. Interest in ethical finance has been growing in the investor community around the world. Despite the growing interest of investors and institutions, the integration of environmental and social values in investment decision making remains a debatable issue. The key issue in the debate is the relationship between corporate environmental and social performance and financial performance. Traditional investment theories do not consider these criteria and base their investment decisions exclusively on risk-adjusted return. This paper analyzes the risk-return performance of a portfolio in which portfolio selection is based on multidimensional criteria, i.e., it uses Environmental, Social and Governance (ESG) criteria in addition to traditional criteria of risk and return. It is the first study which attempts to analyze the performance of an ESG portfolio in one of the largest emerging market economies, India. The study finds that ethical investment yields superior performance as compared to benchmark portfolio, thus making a case for integration of ESG criteria in investment decisions.

Download or read book An Introduction to Islamic Finance written by Muḥammad Taqī ʻUs̲mānī and published by Arham Shamsi. This book was released on 1998 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Ethical Investor written by Anne-Marie Spagnolo and published by Penguin Group Australia. This book was released on 2007-06-04 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today more and more people want their investments to reflect their social, environmental and/or humanitarian values.This ground-breaking book explains how you can put your money where your heart is and still make healthy profits.The Ethical Investor covers all aspects of this complex topic. It includes: performance comparisons for ethical and mainstream managed funds approaches to screening investments discussion of the chief ethical issues, from animal rights to weapons manufacture a questionnaire that allows you to create your own ethical profile hypothetical case studies of investment portfolios based on particular ethical concerns Investing ethically allows you to reap personal and financial rewards and help influence change as well.

Download or read book Measuring ESG Effects in Systematic Investing written by Arik Ben Dor and published by John Wiley & Sons. This book was released on 2024-04-08 with total page 423 pages. Available in PDF, EPUB and Kindle. Book excerpt: A unique perspective on the implications of incorporating ESG considerations in systematic investing In Integrating ESG in Systematic Investing, a team of authors from Barclays’ top-ranked Quantitative Portfolio Strategy group (ranked #1 by Institutional Investor in its 2022 Global Fixed Income Research Survey in both the US and Europe) delivers an insightful and practical discussion of how to reflect ESG considerations in systematic investing. The authors offer a cross-asset class perspective—incorporating both credit and equity markets in the United States, Europe, and China—a unique coverage scope amongst books on this subject. They discuss the interaction between ESG ratings and various other security characteristics, suggest a methodology for isolating the ESG-specific risk premia, analyse the impact of an ESG tilt on systematic strategies and risk factors, and identify several ESG-based signals that are predictive of future performance. You’ll also discover: Analysis of companies in the process of improving their ESG ranking (“ESG improvers”) vs. firms with best-in-class ESG ratings A study using natural language processing (NLP) to predict changes in corporate ESG rankings from company job postings for sustainability-related positions In-depth explorations of ESG equity fund performance and flows and the information content of ESG ratings dispersion across several providers Perfect for portfolio managers including non-quantitative, fundamental investors, risk managers, and research analysts at financial institutions such as asset managers, pension funds, banks, sovereign wealth funds, hedge funds, and insurance companies, Integrating ESG in Systematic Investing is also a must-read resource for academics with a research interest in the performance and risk implications of ESG investing.

Download or read book The Impact of Socially Responsible Investment Screening on Financial Performance of Investment Funds written by Jodok Betschart and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Socially responsible investments are often criticised with the argument that their financial performance is negatively impacted by the inclusion of environmental, social and governance criteria in the investment decision-making process. The following thesis examines this proposition by analysing whether the screening intensity, measured by the number of screens employed, has an impact on the financial performance of investment funds. Therefore, a number of funds are selected based on predefined criteria, allocated into different groups and compared to each other. The common view is that the financial performance of a fund is negatively correlated with its screening intensity, as greater numbers of screens indicate a smaller investment universe and therefore offer less outperformance possibilities. Results of the empirical analysis suggest that screening intensity has an impact on financial performance, nevertheless not in a strictly monotonic but rather curvilinear way. The comparison of funds with low screening intensity to funds with a higher amount of screens shows a risk-adjusted financial outperformance of the group with low screening intensity, which implies a negative correlation between screening intensity and financial performance. However, a positive correlation becomes visible when comparing the funds with low screening intensity to conventional funds, as funds that do not apply socially responsible investment screens underperform funds with low screening intensity on average. These findings should make investors aware of the impact of screening intensity and may help to select funds that provide an optimal risk-adjusted return.

Download or read book The Impact of Ethical Rating on Canadian Security Performance written by Klaus P. Fischer and published by . This book was released on 2007 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: One approach that is gaining in popularity among portfolio managers uses ethical ratings, published by specialized research organizations, to screen securities for portfolio selection. Portfolio managers can thus gain a better understanding of the phenomenon and adopt a better and more consistent approach to ethical investment. By the same token, board of directors can measure the impact of their ethical policies on the market performance of the stock of their company. This paper provides new evidence about the impact of ethical ratings published in Canada on the risk-adjusted returns of the securities concerned, within the framework of a multi-factor Capital Asset Pricing Model, and gives an interpretation of the results from the perspective of portfolio composition and of corporate governance.

Download or read book Measuring the Risk Impact of Social Screening written by Patrick Geddes and published by . This book was released on 2015 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the nineteenth century investors have incorporated social or ethical values into their portfolios, an approach described over time with such labels as SRI (socially responsible investing), ESG (environmental, social, governance), or MRI (mission-related investing). Among investment professionals a contentious debate rages as to whether SRI is a well-intentioned effort doomed to suffer a performance penalty or a viable alternative with the potential for alpha due to screening based on the assumption that such screening will be rewarded in the market. The performance debate has been covered in other research; this article focuses on the measurement of risk introduced by SRI screening for public equities. For simplicity, the term SRI is used as the term for screened investing in general, with ESG used as a term for the specific environmental, social, and governance issues screened.

Download or read book ESG and Responsible Institutional Investing Around the World A Critical Review written by Pedro Matos and published by CFA Institute Research Foundation. This book was released on 2020-05-29 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: This survey examines the vibrant academic literature on environmental, social, and governance (ESG) investing. While there is no consensus on the exact list of ESG issues, responsible investors increasingly assess stocks in their portfolios based on nonfinancial data on environmental impact (e.g., carbon emissions), social impact (e.g., employee satisfaction), and governance attributes (e.g., board structure). The objective is to reduce exposure to investments that pose greater ESG risks or to influence companies to become more sustainable. One active area of research at present involves assessing portfolio risk exposure to climate change. This literature review focuses on institutional investors, which have grown in importance such that they have now become the largest holders of shares in public companies globally. Historically, institutional investors tended to concentrate their ESG efforts mostly on corporate governance (the “G” in ESG). These efforts included seeking to eliminate provisions that restrict shareholder rights and enhance managerial power, such as staggered boards, supermajority rules, golden parachutes, and poison pills. Highlights from this section: · There is no consensus on the exact list of ESG issues and their materiality. · The ESG issue that gets the most attention from institutional investors is climate change, in particular their portfolio companies’ exposure to carbon risk and “stranded assets.” · Investors should be positioning themselves for increased regulation, with the regulatory agenda being more ambitious in the European Union than in the United States. Readers might come away from this survey skeptical about the potential for ESG investing to affect positive change. I prefer to characterize the current state of the literature as having a “healthy dose of skepticism,” with much more remaining to be explored. Here, I hope the reader comes away with a call to action. For the industry practitioner, I believe that the investment industry should strive to achieve positive societal goals. CFA Institute provides an exemplary case in its Future of Finance series (www.cfainstitute.org/research/future-finance). For the academic community, I suggest we ramp up research aimed at tackling some of the open questions around the pressing societal goals of ESG investing. I am optimistic that practitioners and academics will identify meaningful ways to better harness the power of global financial markets for addressing the pressing ESG issues facing our society.

Download or read book Performance of Mutual Funds written by G. Gregoriou and published by Springer. This book was released on 2015-12-04 with total page 279 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book responds to a growing demand for mutual funds. This timely collection of original papers focuses on changes of international investment in Europe, the US and New Zealand. Using a fresh approach, innovative techniques and various models this book assesses performance and provides an understanding of mutual funds on an international level.

Download or read book Socially Responsible Finance and Investing written by H. Kent Baker and published by John Wiley & Sons. This book was released on 2012-08-31 with total page 528 pages. Available in PDF, EPUB and Kindle. Book excerpt: A detailed look at the role of social responsibility in finance and investing The concept of socially responsible finance and investing continues to grow, especially in the wake of one of the most devastating financial crises in history. This includes responsibility from the corporate side (corporate social responsibility) as well as the investor side (socially responsible investing) of the capital markets. Filled with in-depth insights and practical advice, Socially Responsible Finance and Investing offers an important basis of knowledge regarding both the theory and practice of this ever-evolving area of finance. As part of the Robert W. Kolb Series in Finance, this book showcases contributed chapters from professionals and academics with extensive expertise on this particular subject. It provides a comprehensive view of socially responsible foundations and their applications to finance and investing as determined by the current state of research. Discusses many important issues associated with socially responsible finance and investing, like moral hazard and the concept of "too big to fail" Contains contributed chapters from numerous thought-leaders in the field of finance Presents comprehensive coverage starting with the basics and bringing you through to cutting-edge, current theory and practice Now more than ever, we need to be mindful of the social responsibilities of all investment practices. The recent financial crisis and recession has changed the financial landscape for years to come and Socially Responsible Finance and Investing is a timely guide to help us navigate this difficult terrain.

Download or read book Investing for Change written by Augustin Landier and published by Oxford University Press, USA. This book was released on 2009 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text shows that citizens can change the globalized world in the direction of many common values by being a socially conscious investor. The authors argue that in fact globalization is helping create a shared concern for many issues around the planet.

Download or read book Socially Responsible Investment written by Russell Sparkes and published by John Wiley & Sons. This book was released on 2003-03-14 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over recent years there has been rapid consumer-led growth in investing in socially responsible companies to the extent that it has had an influence on corporate policies. New regulations recognise the public interest by requiring all pension funds to declare their ethical policy. Investors can no longer just consider the financial aspects of a company before investing but also have to consider the complex world of ethical investments. Should the ethical policy take precedence over the financial aspects? Should policies be inclusive or exclusive? What percentage of a company's income has to come from unacceptable sources before the source is excluded? Should any exclusion policy also extend to those involved in selling or transporting goods deemed unacceptable? This is the first book to look at socially responsible investment from the perspective of the institutional investor, who will be led through the complex dilemmas of socially responsible investment with practical examples and advice.

Download or read book Responsible Investing written by Matthew W. Sherwood and published by Taylor & Francis. This book was released on 2023-05-15 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: Responsible Investing serves as a holistic resource on Environmental, Social, and Governance (ESG) investing for undergraduate and graduate programs. It provides a thorough background and history of ESG investing, as well as cutting-edge industry developments, introducing the reader to the rapidly evolving field of responsible investing. Building on the first edition, this second edition provides updates where appropriate, as well as new emphasis on the development of standards in terminology and metrics. Opening with the background of ESG investing, the book discusses the development of ESG risks and provides an overview of ESG rating systems. It outlines the current position of ESG investing in portfolio management through granular analysis, offers insight into common investor concerns about ESG investments, presents qualitative theories, and reviews literature modeling ESG investment performance. Finally, the authors provide readers with a foundation on the development of financial models measuring risk and return, which can be used to evaluate the performance of ESG investments. This edition features updated statistics and a new chapter on regulation, reporting, and taxonomy in ESG investing, as well as new international case studies. Following a summary approach, Responsible Investing is a valuable textbook, providing a context in which upper-level students of ESG investment and sustainable finance can specialize.

Download or read book Islamic Finance written by Abul Hassan and published by Springer. This book was released on 2018-07-10 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: Islamic finance often faces numerous challenges in a dynamic marketplace. This book aims to discuss contemporary issues and challenges in Islamic finance to inform discussions surrounding the governance system, the Islamic legal system, prudential regulations, Islamic home financing, and Islamic microfinance. Furthermore, corporate social responsibility (CSR), Islamic accounting, risk management, Basel Accord, and Shari'ah governance systems are discussed in the book. Despite the relevance of these issues in Islamic finance, only a few reference sources exist. This book will provide a guide for academics, students, and banking professionals to acquaint them with the theory and practice of Islamic finance, filling a needed gap.

Download or read book European Mutual Funds written by Noyes Data Corporation and published by . This book was released on 1973 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book OECD Sovereign Borrowing Outlook 2021 written by OECD and published by OECD Publishing. This book was released on 2021-05-20 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edition of the OECD Sovereign Borrowing Outlook reviews developments in response to the COVID-19 pandemic for government borrowing needs, funding conditions and funding strategies in the OECD area.