The Cost of Socially Responsible Investing

被引：62
|
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
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页码：52 / +
页数：6
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