130576 20240126184244.0 doi 10.1111/beer.12253 sideral 115773 ART-2020-115773 eng Alda, Mercedes Universidad de Zaragoza (orcid)0000-0002-2525-9049 Socially responsible mutual fund exit decisions 2020 This paper studies, for the first time, socially responsible (SR) mutual fund exits. We analyse a sample of 534 U.S. SR equity mutual funds in the period 2003–2017, in which 182 exit events occurred (53 liquidations, 109 mergers within the same family, and 20 mergers across different families). The results obtained indicate that both liquidations and mergers are more likely among smaller funds that suffer net money outflows in the previous year to the event. At the family level, mergers are more frequent in outperforming families with a larger number of funds, whereas liquidations occur in families with a lower number of funds. When comparing mergers within the same family with mergers across different families, we observe that the former share more drivers with liquidations than the latter. In addition, we observe that religious and environmental funds are more likely to suffer exit events than other SR fund types. Finally, other interesting findings point out that mergers financially benefit investors in merged SR mutual funds and the financial outcomes of acquiring fund investors are not jeopardized. Access copy available to the general public Unrestricted info:eu-repo/grantAgreement/ES/DGA/S38-17R info:eu-repo/grantAgreement/ES/MCIU-AEI-FEDER/RTI2018-093483-B-I00 info:eu-repo/grantAgreement/ES/UZ/JIUZ-2018-SOC-13 info:eu-repo/semantics/openAccess All rights reserved http://www.europeana.eu/rights/rr-f/ 6.967 2020 ETHICS 2 / 56 = 0.036 2020 Q1 T1 BUSINESS 36 / 153 = 0.235 2020 Q1 T1 1.343 2020 Economics and Econometrics 2020 Q1 Business and International Management 2020 Q1 info:eu-repo/semantics/article info:eu-repo/semantics/acceptedVersion Muñoz, Fernando Universidad de Zaragoza (orcid)0000-0002-9481-1466 Vargas, María Universidad de Zaragoza (orcid)0000-0002-8638-2665 4002 230 Universidad de Zaragoza Dpto. Contabilidad y Finanzas Área Economía Finan. y Contab. 29, 1 (2020), 82-97 Bus. ethics BUSINESS ETHICS-A EUROPEAN REVIEW 0962-8770 544162 http://zaguan.unizar.es/record/130576/files/texto_completo.pdf Postprint 972497 http://zaguan.unizar.es/record/130576/files/texto_completo.jpg?subformat=icon icon Postprint oai:zaguan.unizar.es:130576 articulos driver 2024-01-26-18:11:13 ARTICLE