Zusammenfassung
Sprichworte sind oft voll tiefer Weisheit, und wir alle sind seit unserer Kindheit geprägt von ihnen. Wer würde sich nicht prinzipiell dem Satz „Ein gutes Gewissen ist ein sanftes Ruhekissen“ anschließen und Geschäfte vermeiden, die das eigene Gewissen belasten? Doch entgehen uns dadurch nicht besonders lukrative Geschäfte? Auf welche Gewinne müssen wir verzichten, um ein reines Gewissen zu behalten? Diese Frage steht im Zentrum der vorliegenden Arbeit – aufgrund der Thematik des Buches nicht in ihrer ganzen Allgemeinheit, sondern fokussiert auf Anlageentscheidungen von Investoren.
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsPreview
Unable to display preview. Download preview PDF.
Literaturhinweise und Danksagung
Ich danke Peer Osthoff für seine wertvolle Unterstützung bei der Erstellung dieses Aufsatzes.
Bauer, R./Koedijk, K./Otten, R. (2005): International evidence on ethical mutual fund performance and investment style, in: Journal of Banking and Finance, Vol. 29, S. 1751–1767.
Bello, Z. Y. (2005): Socially responsible investing and portfolio diversification, in: The Journal of Financial Research, Vol. 28, S. 41–57.
Bollen, N. P. B. (2007): Mutual fund attributes and investor behavior, erscheint in: Journal of Financial and Quantitative Analysis.
Carhart, M. M. (1997): On persistence in mutual fund performance, in: Journal of Finance, Vol. 52, S. 57–82.
Cohen, M. A./Fenn, S. A./Konar, S. (1997): Environmental and financial performance: Are they related?, Working Paper.
Derwall, J./Günster, N./Bauer, R./Koedijk, K. (2005): The ecoefficiency premium puzzle, in: Financial Analysts Journal, Vol. 61, S. 51–63.
Diltz, J. D. (1995): Does social screening affect portfolio performance?, in: The Journal of Investing, Vol. 4, S. 64–69.
European Social Investment Forum (2006): European SRI Study 2006.
Galbas, F./Ruenzi, S. (2007): Anlagestrategien von Ethikfonds und ihre ethische Fundierung, CFR Working Paper.
Goldreyer, E. F./Diltz, J. D. (1999): The performance of socially responsible mutual funds: Incorporating sociopolitical information in portfolio selection, in: Managerial Finance, Vol. 25, S. 23–36.
Gregory, A./Matatko, J./Luther, R. (1997): Ethical unit trust financial performance: Small company effects and fund size effects, in: Journal of Business Finance & Accounting, Vol. 24, S. 705–724.
Grossman, B. R./Sharpe, W. F. (1986): Financial implications of South African divestment, in: Financial Analysts Journal, Vol. 42, S. 15–29.
Guerard, J. B. (1997): Is there a cost of being socially responsible in investing?, in: The Journal of Investing, Vol. 6, S. 11–18.
Hamilton, S./Jo, H.; Statman, M. (1993): Doing well while doing good? The investment performance of socially responsible mutual funds, in: Financial Analysts Journal, Vol. 49, S. 62–66.
Kempf, A./Osthoff, P. (2006): The effect of socially responsible investing on stock market performance, CFR Working Paper.
Kempf, A./Osthoff, P. (2007): Socially responsible mutual funds – better than their reputation?, CFR Working Paper.
Kreander, N./Gray, R. H.; Power, D. M.; Sinclair, C. D. (2005): Evaluating the performance of ethical and non-ethical funds: A matched pair analysis, in: Journal of Business Finance and Accounting, Vol. 32, S. 1465–1493.
Kurtz, L./Dibartolomeo, D. (1996): Socially screened portfolios: an attribution analysis of relative performance, in: The Journal of Investing, Vol. 5, S. 35–41.
Kurtz, L. (1997): No effect, or no net effect? Studies on socially responsible investing, in: The Journal of Investing, Vol. 7, S. 37–49.
Moskowitz, M. R. (1972): Choosing socially responsible stocks, in: Business and Society Review, Vol. 1, S. 71–75.
Ruenzi, S. (2005): Ethikfonds, in: Die Betriebswirtschaft, Vol. 65, S. 101–104.
Sauer, D. A. (1997): The impact of social-responsibility screens on investment performance: Evidence from the Domini 400 Social Index and Domini Equity Mutual Fund, in: Review of Financial Economics, Vol. 6, S. 137–149.
Schäfer, H./Hauser-Ditz, A./Preller, E. C. (2004): Transparenzstudie zur Beschreibung ausgewählter international verbreiteter Rating-Systeme zur Erfassung von Corporate Social Responsibility, BertelsmannStiftung.
Schröder, M. (2004): The performance of socially responsible investments: Investment funds and indices, in: Financial Markets and Portfolio Management, Vol. 18, S. 122–142.
Schröder, M. (2007): Is there a difference? The performance characteristics of SRI equity indices, in: Journal of Business Finance and Accounting, Vol. 34, S. 331–348.
Social Investment Forum (2005): 2005 report on socially responsible investing trends in the United States, SIF Industry Research Program.
Statman, M. (2000): Socially responsible mutual funds, in: Financial Analysts Journal, Vol. 56, S. 30–39.
Statman, M. (2006): Socially responsible indexes: Composition, performance and tracking error, in: The Journal of Portfolio Management, Vol. 32, S. 100–109.
Yamashita, M./Sen, S./Roberts, M. C. (1999): The rewards for environmental conscientiousness in the U.S. capital markets, in: Journal of Financial and Strategic Decisions, Vol. 12, S. 73–82.
Editor information
Rights and permissions
Copyright information
© 2008 Betriebswirtschaftlicher Verlag Dr. Th. Gabler | GWV Fachverlage GmbH
About this chapter
Cite this chapter
Kempf, A. (2008). Ethisches Investment. In: Bierbaum, D. (eds) So investiert die Welt. Gabler. https://doi.org/10.1007/978-3-8349-8969-7_22
Download citation
DOI: https://doi.org/10.1007/978-3-8349-8969-7_22
Publisher Name: Gabler
Print ISBN: 978-3-8349-0607-6
Online ISBN: 978-3-8349-8969-7
eBook Packages: Business and Economics (German Language)