000130112 001__ 130112 000130112 005__ 20250210083428.0 000130112 0247_ $$2doi$$a10.1111/beer.12624 000130112 0248_ $$2sideral$$a136547 000130112 037__ $$aART-2023-136547 000130112 041__ $$aeng 000130112 100__ $$0(orcid)0000-0002-2525-9049$$aAlda, Mercedes$$uUniversidad de Zaragoza 000130112 245__ $$aThe power of ethical words 000130112 260__ $$c2023 000130112 5060_ $$aAccess copy available to the general public$$fUnrestricted 000130112 5203_ $$aIn this research, we analyse the impact of the inclusion of ethical expressions in the prospectuses of socially responsible (SR) mutual funds on money flows. We contribute to the existing literature by proposing a text‐based measure that integrates three attributes that are relevant to whether clients are attracted: exclusiveness, intensity and lexical diversity. We analyse a sample formed of 266 SR US equity mutual funds in the period 1999–2019. Our findings show that both the proposed indicator and other alternative partial proxies based on textual data have a positive impact on the money flows of the SR funds. This effect is more relevant in the case of SR mutual funds belonging to smaller families. Besides, persistence in money flows is more intense for SR mutual funds that are more attractive because of their ethical expressions. Another finding shows that return‐chaser behaviour occurs among all SR investors, independently of the level of text attractiveness of the mutual funds in which they invest, revealing that they take into account both financial and non‐financial outcomes. Our results indicate that policymakers should control fund prospectus information, given its importance for investors' decisions. In addition, managers should be especially cautious with the information provided in prospectuses because of its impact on investor decisions. 000130112 536__ $$9info:eu-repo/grantAgreement/ES/AEI/PID2022-136818NB-I00$$9info:eu-repo/grantAgreement/ES/DGA/S38-23R$$9info:eu-repo/grantAgreement/ES/UZ/JIUZ-2021-SOC-03$$9info:eu-repo/grantAgreement/ES/UZ/JIUZ-2022-CSJ-24 000130112 540__ $$9info:eu-repo/semantics/openAccess$$aby$$uhttp://creativecommons.org/licenses/by/3.0/es/ 000130112 590__ $$a3.6$$b2023 000130112 592__ $$a0.798$$b2023 000130112 591__ $$aETHICS$$b6 / 77 = 0.078$$c2023$$dQ1$$eT1 000130112 591__ $$aBUSINESS$$b113 / 304 = 0.372$$c2023$$dQ2$$eT2 000130112 593__ $$aPhilosophy$$c2023$$dQ1 000130112 593__ $$aBusiness and International Management$$c2023$$dQ2 000130112 593__ $$aOrganizational Behavior and Human Resource Management$$c2023$$dQ2 000130112 593__ $$aEconomics and Econometrics$$c2023$$dQ2 000130112 593__ $$aManagement, Monitoring, Policy and Law$$c2023$$dQ2 000130112 594__ $$a5.2$$b2023 000130112 655_4 $$ainfo:eu-repo/semantics/article$$vinfo:eu-repo/semantics/publishedVersion 000130112 700__ $$0(orcid)0000-0002-9481-1466$$aMuñoz, Fernando$$uUniversidad de Zaragoza 000130112 700__ $$0(orcid)0000-0002-8638-2665$$aVargas, María$$uUniversidad de Zaragoza 000130112 7102_ $$14002$$2230$$aUniversidad de Zaragoza$$bDpto. Contabilidad y Finanzas$$cÁrea Economía Finan. y Contab. 000130112 773__ $$g33, 4 (2023), 547-567$$tBusiness Ethics, Environment and Responsibility$$x2694-6416 000130112 8564_ $$s995237$$uhttps://zaguan.unizar.es/record/130112/files/texto_completo.pdf$$yVersión publicada 000130112 8564_ $$s2151484$$uhttps://zaguan.unizar.es/record/130112/files/texto_completo.jpg?subformat=icon$$xicon$$yVersión publicada 000130112 909CO $$ooai:zaguan.unizar.es:130112$$particulos$$pdriver 000130112 951__ $$a2025-02-10-08:31:20 000130112 980__ $$aARTICLE