000150977 001__ 150977
000150977 005__ 20251017144610.0
000150977 0247_ $$2doi$$a10.1016/j.irfa.2021.101740
000150977 0248_ $$2sideral$$a123973
000150977 037__ $$aART-2021-123973
000150977 041__ $$aeng
000150977 100__ $$0(orcid)0000-0002-9481-1466$$aMuñoz, Fernando$$uUniversidad de Zaragoza
000150977 245__ $$aCarbon-intensive industries in Socially Responsible mutual funds'' portfolios
000150977 260__ $$c2021
000150977 5060_ $$aAccess copy available to the general public$$fUnrestricted
000150977 5203_ $$aIn this research, I study the exposure of Socially Responsible mutual funds (SR) to black industries (i.e., carbon-intensive sectors: fossil fuel, metal and utilities) and its effect on the financial performance. To this purpose, I analyze the industry portfolio allocation of a sample of 136 actively-managed US SR mutual funds, investing in domestic and global equity, in the period January 2012–December 2018. I observe that the average weight of black industries in these portfolios is 9.51% falling over time (13.45% in 2012 versus 7.40% in 2018). Another finding is that a greater exposure to fossil fuel and metal industries negatively impacts the portfolios'' financial performance. In addition, SR funds managed by firms located in Republican-leaning states and in states with greater CO2 emissions per capita, are more exposed to carbon-intensive industries, suggesting that SR funds'' managers could be influenced by local factors when making their investment decisions. Finally, I observe that SR funds marketed under “low-carbon” labels live up to their name and are less exposed to fossil fuel and metal industries than other types of SR funds.
000150977 536__ $$9info:eu-repo/grantAgreement/ES/DGA-FEDER/S38-20R-CIBER$$9info:eu-repo/grantAgreement/ES/MCIU-AEI-FEDER/RTI2018-093483-B-I00$$9info:eu-repo/grantAgreement/ES/UZ/JIUZ-2018-SOC-13
000150977 540__ $$9info:eu-repo/semantics/openAccess$$aby$$uhttps://creativecommons.org/licenses/by/4.0/deed.es
000150977 590__ $$a8.235$$b2021
000150977 591__ $$aBUSINESS, FINANCE$$b4 / 111 = 0.036$$c2021$$dQ1$$eT1
000150977 592__ $$a1.833$$b2021
000150977 593__ $$aFinance$$c2021$$dQ1
000150977 593__ $$aEconomics and Econometrics$$c2021$$dQ1
000150977 594__ $$a7.2$$b2021
000150977 655_4 $$ainfo:eu-repo/semantics/article$$vinfo:eu-repo/semantics/publishedVersion
000150977 7102_ $$14002$$2230$$aUniversidad de Zaragoza$$bDpto. Contabilidad y Finanzas$$cÁrea Economía Finan. y Contab.
000150977 773__ $$g75 (2021), [17 pp.]$$pInt. rev. financ. anal.$$tInternational review of financial analysis$$x1057-5219
000150977 8564_ $$s2131268$$uhttps://zaguan.unizar.es/record/150977/files/texto_completo.pdf$$yVersión publicada
000150977 8564_ $$s2809314$$uhttps://zaguan.unizar.es/record/150977/files/texto_completo.jpg?subformat=icon$$xicon$$yVersión publicada
000150977 909CO $$ooai:zaguan.unizar.es:150977$$particulos$$pdriver
000150977 951__ $$a2025-10-17-14:17:06
000150977 980__ $$aARTICLE