Doing Well While Doing Good? The Investment Performance of Socially Responsible Mutual Funds

Authors

Sally A. Hamilton, University of the PacificFollow
Hoje Jo, Santa Clara University
Meir Statman, Santa Clara University

ORCiD

Sally Hamilton: 0000-0003-2786-4792

Document Type

Article

Publication Title

Financial Analysts Journal

ISSN

0015-198X

Volume

49

Issue

6

DOI

10.2469/faj.v49.n6.62

First Page

62

Last Page

66

Publication Date

12-1993

Abstract

"Socially responsible" investors favor certain companies over others according to criteria such as production of weapons or use of alternative energy sources. We find that socially responsible mutual funds do not earn statistically significant excess returns and that the performance of such mutual funds is not statistically different from the performance of conventional mutual funds.

Recommended Citation

Hamilton, S. A., Jo, H., & Statman, M. (1993). Doing Well While Doing Good? The Investment Performance of Socially Responsible Mutual Funds. Financial Analysts Journal, 49(6), 62–66. DOI: 10.2469/faj.v49.n6.62
https://scholarlycommons.pacific.edu/esob-facarticles/158