This paper presents the results of an empirical study concerning conventional and socially responsible mutual funds.We apply a sophisticated operations research algorithm embedded in inverse portfolio optimization on financial market data, ESG-scores and CRSP fund data. Due to our results we...

The first objective of this contribution is to evaluate the performance of SRI equity mutual funds in the main European countries with three different DEA models. Secondly, with a series of statistical tests we compare the performance of SRI and non SRI mutual funds in the various countries, to...

One of the astonishing new developments in the financial community is the rise of ethical investments during the last decade. Particularly, the recent financial crisis has determined a major attention towards an ethically oriented finance based on social investments and environmental benefits...

One of the astonishing new developments in the financial community is the rise of ethical investments during the last decade. Particularly, the recent financial crisis has determined a major attention towards an ethically oriented finance based on social investments and environmental benefits...

This paper studies the voluntary provision of public goods that is partially driven by a desire to offset for individual polluting activities. We first extend existing theory and show that offsets allow a reduction in effective environmental pollution levels while not necessarily extending the...