ABSTRACT

Over the past few decades, there has been a sharp increase in interest by investment professionals to become more socially responsible with regards to their decision making relating to their choice of investments and overall make-up of their portfolios. This paper conducts various tests to establish a link between Corporate Social Responsibility (CSR) and Corporate Financial Performance (CFP). This paper adds a strategic management element by establishing various frameworks that corporations can include in the decision-making process and includes CSR and Environmental, Social and Governance (ESG) principles when making investment decisions. The sample chosen for this paper includes the iShares MSCI KLD 400 Social exchange traded fund (ETF), iShares Core S&P 500 ETF as well as firms that follow the Principles for Responsible Investing (PRI). Overall, there is no evidence to suggest that ethical ETFs outperform conventional ETF's however PRI following firms outperform those who do not follow the guidelines.

摘要

在过去的几十年里，投资专业人士越来越有兴趣在与投资选择和投资组合整体构成相关的决策方面承担更多的社会责任。本文进行了各种测试，以建立企业社会责任（CSR）和企业财务绩效（CFP）之间的联系。本文通过建立企业可以纳入决策过程的各种框架来添加战略管理元素，并在做出投资决策时包括企业社会责任以及环境、社会和治理（ESG）原则。本文选择的样本包括 iShares MSCI KLD 400 社会交易所交易基金 (ETF)、iShares Core S&P 500 ETF 以及遵循责任投资原则 (PRI) 的公司。