Renneboog, Luc; Ter Horst, Jenke; Zhang, Chendi - In: Journal of Corporate Finance 14 (2008) 3, pp. 302-322
Do investors pay a price for investing in socially responsible investments (SRI) funds, or do they obtain superior returns? This paper investigates these under- and overperformance hypotheses for all SRI funds across the world. Consistent with investors paying a price for ethics, SRI funds in...