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The ‘smart money effect’ among socially responsible mutual fund investors
16 references·0 citing·31 second hopsampled
The ‘smart money effect’ among socially responsible mutual fund investors (2019)The ‘smart money effect’ among socially r…A Flow-Based Explanation for Return Predictability (2012)A Flow-Based Explanation for …The price of sin: The effects of social norms on markets (2009)The price of sin: The effects…The price of ethics and stakeholder governance: The performance of socially responsible mutual funds (2008)The price of ethics and stake…Dumb money: Mutual fund flows and the cross-section of stock returns (2008)Dumb money: Mutual fund flows…The Effect of Socially Responsible Investing on Portfolio Performance (2007)The Effect of Socially Respon…The Eco-Efficiency Premium Puzzle (2005)The Eco-Efficiency Premium Pu…Asset Fire Sales (and Purchases) in Equity Markets (2005)Asset Fire Sales (and Purchas…International evidence on ethical mutual fund performance and investment style (2004)International evidence on eth…Does Fund Size Erode Mutual Fund Performance? The Role of Liquidity and Organization (2004)Does Fund Size Erode Mutual F…The Effect of Green Investment on Corporate Behavior (2001)The Effect of Green Investmen…Is Money Smart? A Study of Mutual Fund Investors' Fund Selection Ability (1999)Is Money Smart? A Study of Mu…On Persistence in Mutual Fund Performance (1997)On Persistence in Mutual Fund…Measuring Fund Strategy and Performance in Changing Economic Conditions (1996)Measuring Fund Strategy and P…Another Puzzle: The Growth in Actively Managed Mutual Funds (1996)Another Puzzle: The Growth in…Common risk factors in the returns on stocks and bonds (1993)Common risk factors in the re…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Cross-Section of Expected Stock Returns (1992)Illiquidity and stock returns: cross-section and time-series effects (2002)A five-factor asset pricing model (2014)Efficient Capital Markets: A Review of Theory and Empirical Work (1970)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)On the Industry Concentration of Actively Managed Equity Mutual Funds (2005)Luck versus Skill in the Cross‐Section of Mutual Fund Returns (2010)Doing Well While Doing Good? The Investment Performance of Socially Responsible Mutual Funds (1993)DOES IT PAY TO BE GREEN? AN EMPIRICAL EXAMINATION OF THE RELATIONSHIP BETWEEN EMISSION REDUCTION AND FIRM PERFORMANCE (1996)Why Do Investors Hold Socially Responsible Mutual Funds? (2017)The effect of pro-environmental preferences on bond prices: Evidence from green bonds (2018)Sustainable investing with ESG rating uncertainty (2021)The Behavior of Stock-Market Prices (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The Nature of the Firm (1937)The Small World of Investing: Board Connections and Mutual Fund Returns (2008)How Active Is Your Fund Manager? A New Measure That Predicts Performance (2009)Do Investors Value Sustainability? A Natural Experiment Examining Ranking and Fund Flows (2017)A Simple Model of Capital Market Equilibrium with Incomplete Information (1987)Does the stock market fully value intangibles? Employee satisfaction and equity prices (2011)Do Investors Care about Carbon Risk? (2019)Sustainable investing in equilibrium (2020)Mutual Fund Performance: An Empirical Decomposition into Stock‐Picking Talent, Style, Transactions Costs, and Expenses (2000)Mutual Fund Flows and Performance in Rational Markets (2004)Multifactor Explanations of Asset Pricing Anomalies (1996)Presidential Address: Asset Price Dynamics with Slow‐Moving Capital (2010)Fire Sales in Finance and Macroeconomics (2011)Mutual Fund Attributes and Investor Behavior (2007)The stocks at stake: Return and risk in socially responsible investment (2008)Socially responsible funds and market crises (2014)
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References

  • 1993Common risk factors in the returns on stocks and bonds26,615 cited
  • 1997On Persistence in Mutual Fund Performance17,267 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 2009The price of sin: The effects of social norms on markets2,600 cited
  • 1996Another Puzzle: The Growth in Actively Managed Mutual Funds2,093 cited
  • 1996Measuring Fund Strategy and Performance in Changing Economic Conditions1,759 cited
  • 2005Asset Fire Sales (and Purchases) in Equity Markets1,704 cited
  • 2001The Effect of Green Investment on Corporate Behavior1,498 cited
  • 2004Does Fund Size Erode Mutual Fund Performance? The Role of Liquidity and Organization1,429 cited
  • 2004International evidence on ethical mutual fund performance and investment style1,150 cited
  • 2005The Eco-Efficiency Premium Puzzle963 cited
  • 2008Dumb money: Mutual fund flows and the cross-section of stock returns881 cited
  • 2007The Effect of Socially Responsible Investing on Portfolio Performance851 cited
  • 2008The price of ethics and stakeholder governance: The performance of socially responsible mutual funds836 cited
  • 1999Is Money Smart? A Study of Mutual Fund Investors' Fund Selection Ability

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  • 2012A Flow-Based Explanation for Return Predictability769 cited
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