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National culture and socially responsible fund flows
Emerging Markets Review ( IF 4.359 ) Pub Date : 2020-10-21 , DOI: 10.1016/j.ememar.2020.100751
Chiraz Labidi , Dorra Laribi , Loredana Ureche-Rangau

We investigate the impact of national culture on socially responsible investment (SRI) fund flows. Drawing on prior literature suggesting that non-financial attributes and social preferences explain SRI decisions, we hypothesize that cultural traits may drive SRI fund flows. We use a dataset covering mutual funds from 45 countries over the period 1997 to 2019. Our results reveal that higher SRI flows are associated with low masculinity and uncertainty avoidance and, to a lesser extent, to high religiosity.

On the contrary, power distance and individualism affect conventional fund flows but do not have any significant differential effect on ethical money flows.



中文翻译:

民族文化和对社会负责的资金流动

我们调查了民族文化对社会责任投资(SRI)资金流的影响。根据先前的文献表明非金融属性和社会偏好可以解释SRI决策,我们假设文化特征可能会推动SRI资金流动。我们使用的数据集覆盖了1997年至2019年期间来自45个国家的共同基金。我们的结果表明,较高的SRI流量与低男性气质和避免不确定性有关,在较小程度上与高宗教性有关。

相反,权力距离和个人主义影响传统的资金流向,但是对道德资金流向没有任何明显的不同影响。

更新日期:2020-10-21
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