Does Relative Performance of Socially Responsible Investing Increase with Financial Risk?

• Autorzy: Paweł Śliwiński , Maciej Łobza

Warianty tytułu

Czy relatywna efektywność inwestowania odpowiedzialnego społecznie wzrasta wraz z ryzykiem finansowym?

• Języki publikacji: EN

Abstrakty

EN

The research paper positively verified the research hypothesis that the relative financial performance of investments in socially responsible indices against the performance of conventional indices may go up as the global financial risk, measured by the VIX index, increases. Socially Responsible Investing can be rational from the financial point of view. In addition to the ethical aspect, it may fulfill the function of protecting the investment portfolio in periods characterized by a high level of global risk. The hypothesis was tested using statistical research based on a comparative portfolio analysis of the geographically diverse SRI indices (RESPECT Index and DJSI) against the reference points which were the territorially relevant conventional stock indices (WIG20TR and DJITR). (original abstract)

W artykule pozytywnie zweryfikowano hipotezę badawczą, że relatywna efektywność finansowa inwestycji w indeksy odpowiedzialne społecznie względem efektywności indeksów konwencjonalnych może wzrastać wraz ze wzrostem finansowego ryzyka globalnego mierzonego indeksem VIX. Inwestowanie odpowiedzialnie społeczne może być zatem racjonalne finansowo i pełnią, poza aspektem etycznym, funkcją ochrony portfela inwestycyjnego w okresach charakteryzujących się wysokim poziomem globalnego ryzyka. Weryfikacją postawionej hipotezy przeprowadzono z wykorzystaniem badań statystycznych opartych na komparatywnej analizie portfelowej zróżnicowanych geograficznie giełdowych indeksów SRI (RESPECT Index i DJSI) względem punktów odniesienia, którymi były odpowiadające im terytorialnie giełdowe indeksy konwencjonalne (WIG20TR i DJITR). (abstrakt oryginalny)

Słowa kluczowe

EN

Investment; Investment financing; RESPECT Index

PL

Inwestycje; Finansowanie inwestycji; Indeks RESPECT

• Czasopismo: Problemy Zarządzania
• Rocznik: 2019
• Tom: 17
• Numer: nr 3 (83) Evolution and Effectiveness of National and European Financial Management - Recommendations for the Future
• Strony: 212--228

Twórcy

autor

Paweł Śliwiński

• Poznań University of Economics, Poland

autor

Maciej Łobza

• Poznań University of Economics and Business, Poland

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Identyfikatory

DOI

10.7172/1644-9584.83.13