Title: The role of fund management institutions in the development of socially responsible investments: an analysis of the Spanish case

Authors: Maria Rosario Balaguer Franch, Maria Angeles Fernandez Izquierdo, Maria Jesus Munoz Torres

Addresses: Universitat Jaume I, Departamento de Finanzas y Contabilidad, Campus del Riu Sec, 12071 Castellon, Spain. ' Universitat Jaume I, Departamento de Finanzas y Contabilidad, Campus del Riu Sec, 12071 Castellon, Spain. ' Universitat Jaume I, Departamento de Finanzas y Contabilidad, Campus del Riu Sec, 12071 Castellon, Spain

Abstract: Socially Responsible Investment (SRI) refers to investment practices that take into account financial, social and environmental aspects. The objective of this paper is to identify the factors which may influence fund management companies in making a decision to manage and/or market SRI funds and the variables that can determine whether or not this company has an explicit Corporate Social Responsibility (CSR) policy. The results confirm our initial hypothesis that there is a positive relation between fund management companies| internal policy on CSR and the fact that they manage and/or market SRI mutual funds.

Keywords: Spanish mutual funds; socially responsible investment; SRI; corporate social responsibility; CSR; websites; e-finance; electronic finance; internet; transparency; information technology; Spain; fund management.

DOI: 10.1504/IJEF.2008.020603

International Journal of Electronic Finance, 2008 Vol.2 No.3, pp.314 - 329

Published online: 01 Oct 2008 *

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