We examine the impact on venture capital (VC) involvement and monitoring on their portfolio companies' corporate social responsibility (CSR) performance. Exploiting the timing of VC exit, we find that CSR performance of VC-backed companies improves after the exit of VC. Using the age of VC funds...

Socially responsible investing (SRI) is an investment process that screens investment opportunities based on ethical, social, corporate governance, or environmental. SRI has been growing rapidly; total U.S.-domiciled SRI-managed assets increased from $3.74 trillion in 2012 to $6.57 trillion in...

The concept of ‘net present sustainable value' is introduced as a new strategic tool for sustainable investment appraisal, which extends the traditional net present value approach to include resources other than capital. The proposed approach examines if the present value of the future returns...

Implementing the complex Agenda 2030, with its high global Sustainable Development Goals (SDGs) requires, in the by now short time horizon of reference, an extraordinary effort, at all institutionals and private levels, to converge effectively on the whole system of intermediate and interrelated...

Can better firm ESG policies be attributed to a CEO’s style? We find that firms led by CEOs with not-for-profit sector work experience (socially engaged CEOs) possess better ESG ratings and superior real ESG outcomes. They receive higher satisfaction ratings from their employees, develop more...

In this paper I investigate the investment behavior of SRI investors based on SRI mutual fund flows. Specifically, I analyze how SRI investors react to past performance and ethical standards. This empirical study shows that over the years along with the development of the SRI fund market, the...

More and more investors apply socially responsible screens when building their stock portfolios. This raises the question whether these investors can increase their performance by incorporating such screens into their investment process. To answer this question we implement a simple trading...

We test the frequently made claim that SRI funds are conventional funds in disguise. For this purpose, we compare the portfolio holdings of SRI funds to conventional funds concerning their social and environmental standards. Our empirical study of US equity funds shows that SRI funds have a...

This paper empirically examines the theoretically ambivalent relationship between socially responsible investing (SRI) and stock performance. It extends the existing literature by considering both the US and the entire European stock markets as well as by using consistent world-wide corporate...

In recent years, the socially responsible investing (SRI) industry has become an important segment of international capital markets by incorporating ESG (Environmental, Social and Governance) factors into investment selection and management processes. This study analyses whether SRI mutual funds...