118867 20240319081025.0 doi 10.1016/j.frl.2022.103109 sideral 129390 ART-2022-129390 eng Muñoz, Fernando Universidad de Zaragoza (orcid)0000-0002-9481-1466 Ethical Window Dressing: SRI Funds are as Good as their Word 2022 Access copy available to the general public Unrestricted In this research, we tested the existence of ethical window dressing in the Socially Responsible Investment (SRI) domestic equity funds registered in the US market. For this purpose, we compared the environmental, social, and corporate governance (ESG) attributes of disclosed and undisclosed portfolios. We reject that the ESG portfolio image is significantly better in reporting months than in non-reporting months. Examining portfolio trading based on different proxies, we found residual signals of ethical window dressing. None of these signals correspond to easy-to-interpret information. Thus, SRI funds do not manipulate the disclosed ESG image to attract money flows. info:eu-repo/grantAgreement/ES/DGA/S38-20R info:eu-repo/grantAgreement/ES/MCIU-AEI-FEDER/RTI2018-093483-B-I00 info:eu-repo/grantAgreement/ES/UZ/JIUZ-2020-SOC-02 info:eu-repo/semantics/openAccess by-nc-nd http://creativecommons.org/licenses/by-nc-nd/3.0/es/ 10.4 2022 BUSINESS, FINANCE 1 / 111 = 0.009 2022 Q1 T1 2.231 2022 Finance 2022 Q1 10.8 2022 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Ortiz, Cristina Universidad de Zaragoza (orcid)0000-0003-3275-5814 Vicente, Luis Universidad de Zaragoza (orcid)0000-0003-4778-5960 4002 230 Universidad de Zaragoza Dpto. Contabilidad y Finanzas Área Economía Finan. y Contab. 49 (2022), 103109 [7 pp.] Finance res. lett. Finance Research Letters 1544-6123 427760 http://zaguan.unizar.es/record/118867/files/texto_completo.pdf Versión publicada 2164114 http://zaguan.unizar.es/record/118867/files/texto_completo.jpg?subformat=icon icon Versión publicada oai:zaguan.unizar.es:118867 articulos driver 2024-03-18-16:36:00 ARTICLE