Doing Well While Doing Good? The Investment Performance of Socially Responsible Mutual Funds
Sally Hamilton: 0000-0003-2786-4792
Financial Analysts Journal
"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.
Hamilton, S. A.,
Doing Well While Doing Good? The Investment Performance of Socially Responsible Mutual Funds.
Financial Analysts Journal, 49(6), 62–66.