Hornuf, Lars; Yüksel, Gülistan - 2022
In this article, we use a meta-analysis to examine the performance of socially responsible investing (SRI). After a … thorough literature search, we review 153 empirical studies containing 1,047 observations of SRI performance. We find that, on … average, SRI neither outperforms nor underperforms the market portfolio. However, in line with modern portfolio theory, we …