40 research outputs found

    UK Charity Ethical Investment: Policy, Practice and Disclosure

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    Evaluating the performance of ethical and non-ethical funds: a matched pair analysis

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    This paper studies the performance of 60 European funds from four countries. The paper extends the UK matched pair approach for fund evaluation developed by Mallin et al. (1995) to a European setting. The findings suggest that there is no difference between ethical and non-ethical funds according to the performance measures employed. Neither type of fund displayed any ability to time the market. Finally, the results indicate that the management fee is a significant explanatory variable for the Jensen measure as Chen et al. (1992) and Grinblatt and Titman (1994) suggested. Copyright Blackwell Publishers Ltd, 2005.
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