The Cost of Socially Responsible Investing

被引：63

作者：

Adler, Timothy ^{[1
]}

Kritzman, Mark ^{[1
]}

机构：

[1] Windham Capital Management LLC, Res & Dev, Cambridge, MA USA

来源：

JOURNAL OF PORTFOLIO MANAGEMENT | 2008年 / 35卷 / 01期

关键词：

D O I：

10.3905/JPM.2008.35.1.52

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

In this article, the authors estimate the cost of practicing socially responsible investing. Using these results, investors may determine whether imposing restrictions on the available investment universe is the most cost-efficient method for promoting the particular social ideal. The authors design and execute a Monte Carlo simulation to compare the performance of a skillful investor in an unrestricted investment universe with the performance of the same investor in a restricted investment universe. They repeat this for a variety of skill levels and investment universes and find that the cost of socially responsible investing is substantial for even moderately skilled investors

引用

页码：52 / +

页数：6