000108348 001__ 108348
000108348 005__ 20231023123343.0
000108348 0247_ $$2doi$$a10.3390/su13158142
000108348 0248_ $$2sideral$$a124820
000108348 037__ $$aART-2021-124820
000108348 041__ $$aeng
000108348 100__ $$0(orcid)0000-0001-9525-9530$$aBoumda, Beatrice$$uUniversidad de Zaragoza
000108348 245__ $$aDo socially responsible investment funds sell losses and ride gains? The disposition effect in SRI funds
000108348 260__ $$c2021
000108348 5060_ $$aAccess copy available to the general public$$fUnrestricted
000108348 5203_ $$aAn increasing percentage of the total net assets under professional management is devoted to ethical investments. Socially responsible investment (SRI) funds have a dual objective: building an investment strategy based on environmental, social, and corporate governance (ESG) screens and providing financial returns to investors. In the current study, we investigate whether this dual objective has an influence on the behavior of mutual fund managers in the realization of gains and losses. Evidence has shown that most investors in SRI funds invest in those funds primarily because of their social concerns. If the motivations of SRI managers align with those of SRI investors, SRI managers might then have more incentives than conventional managers to hold onto losing stocks if they feel their social value compensates for the economic loss. We hypothesize that SRI managers would be less prone to the disposition effect than conventional managers. Pertaining to the disposition effect, we do not find evidence of a difference in the behavior of SRI fund managers compared with that of conventional fund managers. Our results hold, even when considering market trends, management structure, gender, and prior performance.
000108348 536__ $$9info:eu-repo/grantAgreement/ES/DGA/S38-17R$$9info:eu-repo/grantAgreement/ES/MCIU-AEI-FEDER/RTI2018-093483-B-I00
000108348 540__ $$9info:eu-repo/semantics/openAccess$$aby$$uhttp://creativecommons.org/licenses/by/3.0/es/
000108348 590__ $$a3.889$$b2021
000108348 592__ $$a0.664$$b2021
000108348 594__ $$a5.0$$b2021
000108348 591__ $$aENVIRONMENTAL SCIENCES$$b133 / 279 = 0.477$$c2021$$dQ2$$eT2
000108348 593__ $$aEnergy Engineering and Power Technology$$c2021$$dQ1
000108348 591__ $$aENVIRONMENTAL STUDIES$$b57 / 128 = 0.445$$c2021$$dQ2$$eT2
000108348 593__ $$aRenewable Energy, Sustainability and the Environment$$c2021$$dQ1
000108348 591__ $$aGREEN & SUSTAINABLE SCIENCE & TECHNOLOGY$$b35 / 47 = 0.745$$c2021$$dQ3$$eT3
000108348 593__ $$aManagement, Monitoring, Policy and Law$$c2021$$dQ1
000108348 591__ $$aGREEN & SUSTAINABLE SCIENCE & TECHNOLOGY$$b7 / 9 = 0.778$$c2021$$dQ4$$eT3
000108348 593__ $$aGeography, Planning and Development$$c2021$$dQ1
000108348 655_4 $$ainfo:eu-repo/semantics/article$$vinfo:eu-repo/semantics/publishedVersion
000108348 700__ $$aDuxbury, Darren
000108348 700__ $$0(orcid)0000-0003-3275-5814$$aOrtiz, Cristina$$uUniversidad de Zaragoza
000108348 700__ $$0(orcid)0000-0003-4778-5960$$aVicente Gimeno, Luis Alfonso$$uUniversidad de Zaragoza
000108348 7102_ $$14002$$2230$$aUniversidad de Zaragoza$$bDpto. Contabilidad y Finanzas$$cÁrea Economía Finan. y Contab.
000108348 773__ $$g13, 15 (2021), 8142 [14 pp.]$$pSustainability (Basel)$$tSustainability (Switzerland)$$x2071-1050
000108348 8564_ $$s287842$$uhttps://zaguan.unizar.es/record/108348/files/texto_completo.pdf$$yVersión publicada
000108348 8564_ $$s2810154$$uhttps://zaguan.unizar.es/record/108348/files/texto_completo.jpg?subformat=icon$$xicon$$yVersión publicada
000108348 909CO $$ooai:zaguan.unizar.es:108348$$particulos$$pdriver
000108348 951__ $$a2023-10-23-12:21:47
000108348 980__ $$aARTICLE