A Bibliometric and Visualization Analysis of Socially Responsible Funds

Fabregat‐Aibar, Laura; Barberà-Mariné, M. Glòria; Terceño, Antonio; Pié, Laia

doi:10.3390/su11092526

Cited by 93 publications

(75 citation statements)

References 84 publications

(87 reference statements)

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“…We analyzed funds' risk-adjusted performance by using the Capital Asset Pricing Model (CAPM) model. For several years now, this has been the main model used by influential papers that study mutual funds' performance [78].…”

Section: Methods and Variablesmentioning

confidence: 99%

“…Comparing a specific category of responsible funds (the ST ones) with other SR products, we considered the strategy adopted by the asset managers, following the more recent strand of literature focused on managerial abilities, and the relationship between sustainability and performance considering the specific screening and selection approach adopted for responsible investment [78]. In this context, Capelle-Blancard and Monjon tested whether the specific screening process impacted the performance of socially responsible funds [22]; Morgan Stanley investigated the basis of the performance of different sustainable investment strategies [23]; Chen and Scholtens compared active and passive socially responsible investment funds [24]; Henke investigated the specific effect of social screening on mutual fund returns [25]; and Trinks and Scholtens studied the opportunity cost of negative screening in socially responsible investing [26].…”

Section: H2mentioning

confidence: 99%

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Responsible or Thematic? The True Nature of Sustainability-Themed Mutual Funds

Ielasi

Rossolini

2019

Sustainability

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The aim of the paper is to compare the risk-adjusted performance of sustainability-themed funds with other categories of mutual funds: sustainable and responsible mutual funds that implement different approaches in portfolio selection and management, and thematic funds not committed to responsible investments. The study analyses a sample of about 1000 European mutual open-end funds where 302 are sustainability-themed funds, 358 are other responsible funds, and 341 other thematic funds. Risk-adjusted performance is analyzed for the period 2007–2017 using different methodologies: a single factor Capital Asset Pricing Model (CAPM), a Fama and French (1993) 3-factor model, and a Fama and French (2015) 5-factor model. Our main findings demonstrate that the risk-adjusted performance of ST funds is more closely related to their responsible nature than to their thematic approach. Sustainability-themed mutual funds are more similar to other socially responsible funds than to other thematic funds, as confirmed by performance analysis over time. They are also better than other thematic funds in overcoming financially turbulent periods and currently benefit from SRI regulation and disclosure.

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Section: Methods and Variablesmentioning

confidence: 99%

Section: H2mentioning

confidence: 99%

Responsible or Thematic? The True Nature of Sustainability-Themed Mutual Funds

Ielasi

Rossolini

2019

Sustainability

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“…In the second part of our research, we applied market models to examine relative performance. It should be noted that market models are currently one of the most commonly used methods to assess socially responsible investments [68]. The first is the Capital Asset Pricing Model (CAPM) [69], which is given by the following formula:…”

Section: Methodsmentioning

confidence: 99%

Does the Asset Allocation Policy Affect the Performance of Climate-Themed Funds? Empirical Evidence from the Scandinavian Mutual Funds Market

2020

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The aim of this paper is to evaluate the performance of climate-themed mutual funds, taking into consideration the structure of their asset allocation, especially their geographical focus of investment. Additionally, the influence of differences in the industry allocations on the funds’ investment results is evaluated. Our analyses are based on climate-friendly mutual funds registered in Scandinavian countries (i.e., Denmark, Norway, and Sweden) during 2010–2019. To classify the analyzed funds as climate-friendly, we use the relative carbon footprint measure, which is a novelty in studies on ESG funds (meeting the environmental, social, and corporate governance criteria). In our analyses, we use the absolute performance as well as the relative performance methods. The obtained results confirm that geographical and industrial asset allocations significantly affect the performance of Scandinavian climate-friendly funds. On the basis of our studies, we may state that analyzed mutual funds do not get abnormal returns, and their performance mostly depends on the market state. Additionally, the unconditional firm size factor did not influence the return of particular portfolios, while the conditional firm size factor was significant for European, global, and North American funds. Moreover, the firm value factor was significant. Finally, the momentum factor was only significant for the emerging markets portfolio when it reached positive values.

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“…Currently, there have been numerous researchers used the bibliometric analysis from various disciplines, such as medicine (Nafade et al, 2018), computer networking (Iqbal et al, 2019), management and business (Merigó & Yang, 2017), digital accounting (Ardianto & Anridho, 2018), investment (Fabregat-Aibar et al, 2019), onomastic or study about names (Aribowo, 2019), and Islamic studies in general (Hussain et al, 2016). In the field of Islamic economics and finance, Ridhwan et al (2013) at first utilized this bibliometric analysis.…”

Section: Introductionmentioning

confidence: 99%

Bibliometric Analysis of Islamic Economics and Finance Journals in Indonesia

Firmansyah

Faisal

2020

JAM

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For researchers in Islamic economics and finance, publishing a journal article is one of the prerequisites to enhance the discipline of Islamic economics and finance. However, to fill out the gap in current research in the field, a researcher has to review various peer-reviewed journals. This paper utilizes a bibliometric analysis through VOSviewer software to help a researcher visualizing the performance of the Islamic economics and finance journals and the researchers in the field as well as their topic of interest. This method enables a researcher with a self-developed approach in the data collection. The result of this study shows top-five Islamic economics and finance Indonesian journals, along with the ten most productive researchers. We believe there should be an improvement in the journal management and collaboration among researchers in Indonesia for the betterment of the journals in Islamic finance in the years to come.

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A Bibliometric and Visualization Analysis of Socially Responsible Funds

Cited by 93 publications

References 84 publications

Responsible or Thematic? The True Nature of Sustainability-Themed Mutual Funds

Responsible or Thematic? The True Nature of Sustainability-Themed Mutual Funds

Does the Asset Allocation Policy Affect the Performance of Climate-Themed Funds? Empirical Evidence from the Scandinavian Mutual Funds Market

Bibliometric Analysis of Islamic Economics and Finance Journals in Indonesia

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