Socially responsible investing (SRI) is considered to a greater extent by investors wishing to avoid their savings being used in “unsocial” businesses. Essentially there are two main types of SRI strategy: negative screening and positive investing. The former screens out securities according...

This article proposes a straightforward measure of the residual unsystematic risk that a selective portfolio investment strategy, such as socially responsible investment, eventually bears. The model is empirically employed in order to analyse whether the MSCI socially responsible indices bear...