Socially responsible investors pursue both financial and non-financial goals. In this paper, we attempt to assess the performance of French socially responsible mutual funds (SRMFs). We consider the data envelopment analysis (DEA) approach, which allows us to assign a unique efficiency score while combining financial and social characteristics, using various combinations within different types of risk (total risk, market risk, and downside risk). We report the list of funds found to be DEA efficient using various output-oriented models. We also compare our obtained results with the traditional and modern measures used in the literature (Sharpe, Treynor, and the information ratio). We contribute to the literature by testing the validity of the DEA methodology in the financial context. The findings have important implications for fund selection processes and would be mainly of interest to investors and fund managers who integrate environmental, social, and governance criteria into their investment choices.

中文翻译：

---

衡量法国共同基金的财务和社会绩效：数据包络分析方法

具有社会责任感的投资者追求财务和非财务目标。在本文中，我们试图评估法国社会责任共同基金（SRMFs）的表现。我们考虑了数据包络分析 (DEA) 方法，该方法允许我们在结合财务和社会特征的同时分配独特的效率得分，在不同类型的风险（总风险、市场风险和下行风险）中使用各种组合。我们使用各种以产出为导向的模型报告了发现 DEA 有效的基金列表。我们还将我们获得的结果与文献中使用的传统和现代测量方法（Sharpe、Treynor 和信息比）进行了比较。我们通过在金融背景下测试 DEA 方法的有效性来为文献做出贡献。